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Cause and Effect - American Enterprise InstituteAlthough the media are full of talk that we face a "crisis of capitalism," the underlying cause of the financial meltdown is something much more mundane and practical--the housing, tax, and bank regulatory policies of the U.S. government. The ...
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Latest Pictures - Newstrack IndiaLondon, Nov 22 (ANI): After 40 years, a previously-unheard interview with The Beatles' late guitarist George Harrison has come to light. The interview ... and rule our lives." Lambert only used a small section of the interview in his Reporter who ...
Real-Time News - Newark Star-Ledger• Football: Millburn plays Madison during their Thanksgiving game • Football: Millburn plays Madison during their Thanksgiving game • Football: Millburn plays Madison during their Thanksgiving game They met as teenagers, finding a common bond ...
John S.W. MacDonald - New York ObserverAs this blog encompasses culture, I suppose we’re contractually obligated to mention this year’s Grammy nominations. So here goes… The lucky nominees were announced last night at LA's Nokia Theatre during a live televised event that CBS humbly ...
10-year-old to thief: Bring my bike back! - Corvallis Gazette-TimesLast week, my bike was stolen from the bike rack at my school. If you are the person who stole it, this letter is to you (and anybody else thinking about stealing a bike). That bike — you might think of it as a piece of junk — was my ...
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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