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Great Wolf talking with lenders about mortgage extension - Milwaukee Journal Sentinel
Dec. 1, 2008 11:42 a.m. | Madison-based Great Wolf Resorts Inc. says it remains in discussions with its lenders regarding an extension of yesterday's maturity date on a $76.8 million mortgage loan on its Mason, Ohio, water park resort. Until those ...

West Bend woman gets 2 years for sex with teen - Milwaukee Journal Sentinel
Dec. 1, 2008 4:48 p.m. | West Bend - A 32-year-old West Bend woman was sentenced today to two years in prison for having sex with a 15-year-old boy and then violating conditions of her bail by repeatedly text-messaging him. Jaime M. Foss also was ...

In four Union towns, taxes hit five figures - Newark Star-Ledger
The average homeowner's tax bill in four of Union County's 21 communities has now crossed the $10,000 mark, according to county tax officials. In Summit, Westfield, New Providence and Scotch Plains, the average homeowner is now looking at an annual ...

First American CoreLogic Releases September 2008 LoanPerformance Home ... - MSN MoneyCentral
SANTA ANA, Calif. , Dec. 1 /PRNewswire-FirstCall/ -- First American CoreLogic, a member of The First American Corporation FAF , America's largest provider of advance property and ownership information, analytics and services, today announced the ...

From the police report... - Spokane Spokesman-Review
State Rep. Geoff Simpson, D-Covington, was arrested Sunday afternon on charges of fourth degree assault and interfering with reporting of domestic violence. He says -- see below -- that the charges are baseless and that he'll be exonerated. In ...

ALL STORIES FROM November 2008 - Staten Island Advance
The lowest cash gas price on Staten Island this morning is the Sunoco station at Armstrong Avenue and Arthur Kill Road in Great Kills. The station has a listed price of $2.21 per gallon of unleaded regular, according to NewYorkGasPrices.com . Fire ...

Power Shift 2009 - Nation
In November of 2007 the Energy Action Coalition brought together more than 6,000 young activists for the first ever national youth conference to solve the climate crisis. Watch highlights from the historic and inspiring Power Shift. This February 27 ...

Jurors hear confession tape in Randolph murder trial - Newark Star-Ledger
After police caught Jonathan Zarate and two teen-agers trying to dump a trunk containing a Randolph girl's beaten and dismembered body into the Passaic River in Rutherford, Zarate told an investigator he had found his next-door neighbor dead. "I ...

November 2008 - Posts - MSNBC Firstread
Senate candidate Al Franken will not appeal a decision by the Minnesota State Canvassing Board, which today rejected the Democrat's request that rejected absentee ballots be included in the race's hotly contested recount. The canvassing board's ...

City sitdowns to help homeowners in mortgage trap - New York Daily News
With the borough reeling from the subprime mortgage mess and the economy, city and borough leaders are reaching out to help Bronxites save their homes. City Controller William Thompson is hosting a Save Our Homes initiative at Lehman College Saturday ...

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Today's Mortgage Terms starting with M

  • Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
  • Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
  • Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
  • Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
  • Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
  • Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
  • Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
  • Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
  • Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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