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Millions Lose Homes, As Families Plead for Help - Common Dreams
BOSTON - Bank crashes in Iceland, an International Monetary Fund (IMF) bailout of Ukraine and volatile stock markets the world over -- it all links back to the U.S. communities where hundreds of thousands of families are losing their homes with no ...

Billionaires Up, America Down - Common Dreams
When it comes to producing billionaires, America is doing great. Until 2005, multimillionaires could still make the Forbes list of the 400 richest Americans. In 2006, the Forbes 400 went billionaires only. This year, you'd need a Forbes 482 to fit ...

Forbes: Paulson Worst Secretary of Treasury - OpEdNews.com
On CNN, Sunday, with Wolf Blitzer, Steve Forbes says Paulson is worst Treasury sec in modern times. And Robert Reich says the bailout was sold on false pretenses Here, read the transcript, from CQ politics . BLITZER: Steve Forbes, do you have ...

Toddlin' Tuesday - Arkansas Times
* FINANCIAL CHAOS: The government (meaning taxpayers) bails out insurance giant A.I.G. Reluctantly. Last resort, looks like. * David Pryor's book signing at the Old State House (below) , James Carville in attendance. -- Brian Chilson photo * James ...

Inside Holyrood - Tartan-tinted specs of political award judges blur ... - Scotsman
LAST week, much of Scotland's political elite, lobbyists and journalists got together for what might be their last free drink of the recession. And as the champagne flowed, the question asked at the Scottish Political Awards was what had the judges ...

Tips for Conservatives Fleeing the Country - OpEdNews.com
The last time a Democrat became President, I remember a lot of hardcore conservatives saying they were so upset by Bill Clinton being in the White House that they were seriously considering packing up and moving overseas. Of course, most of them didn ...

SNP spends £23,000 on Saltires – from Far East - Scotsman
THE Scottish Government has paid £23,000 to a company in the Far East to produce Saltire flags for the forthcoming St Andrews Day celebrations. Despite an economic downturn that is forcing many small Scottish companies to cut costs, the SNP ...

One rule for Lloyds, one for everyone else, signals Darling - Scotsman.com
ALISTAIR Darling yesterday effectively slammed the door on a rival bid to keep HBOS an independent bank, when he set tough conditions on any alternative rescue deal. The Chancellor made it clear that the Treasury would not match its offer to buy ...

Calman advisers back new tax powers for Scottish Parliament - Scotland on Sunday Online
HOLYROOD should be given major new powers over taxation north of the border, a long-awaited report on the constitutional future of the nation will say tomorrow. An expert group, backed by all three of Scotland's pro-union parties, will declare that ...

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Today's Mortgage Terms starting with F

  • Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
  • Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
  • Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
  • FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
  • First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
  • Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
  • Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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