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News about Mortgages:
Metro/State briefs - Detroit NewsLANSING -- Michigan will lead a class-action lawsuit against investment bank Bear Stearns over losses to state pension funds and other investors. Michigan alleges that Bear Stearns and five current and former executives misled investors about ...
Dream of home ownership comes true - Daily JournalVolunteers break ground for the 11th Habitat for Humanity home in St. Francois County. Cindy Dotson, far right, will be the owner. - Teresa Ressel / Daily Journal FARMINGTON — One Habitat for Humanity project is starting up as another is wrapping ...
TRUMBULL COUNTY - VindicatorJerry D. Ladd Jr., 32, of 112 Westgate Drive, Newton Falls, and Carol J. Oller, 30, of same. James E. Exline, 25, of 4773 Fifth Ave., Youngstown, and Candina M. Chamberlain, of same. Charles Zajaczkowski, 50, of 186 W. Main St., West Farmington, and ...
Home prices take record fall - Detroit NewsNEW YORK -- Home prices dropped by the sharpest annual rate on record in October and there are no signs the housing pain is over, according to a closely watched index released Tuesday. The Standard & Poor's/Case-Shiller 20-city housing index fell by ...
Tough times - Sun-JournalHow bad is it getting? The numbers don't look good in Maine. But there's hope in staying flexible, leaning on support services and spending smart. At one point last week, Community Concepts workers frantically scrambled to answer the agency's phones ...
Wisconsin foreclosure filings rise 21.5%, hit record in 2008 - Milwaukee Journal SentinelForeclosure experts say the worst probably isn't over because unemployment is spreading in the weak economy. In addition, one said, more frustrated homeowners could decide to quit making mortgage payments on homes that are worth less now than when ...
Mo. lawmakers look to divert new casino tax money - Columbia MissourianJEFFERSON CITY — Just weeks after voters approved a casino ballot measure, Missouri lawmakers are looking to redirect the money that had been earmarked for the state's school funding formula. Some lawmakers want to divert the money to raise teacher ...
Today's Mortgage Terms starting with L
Lender: The bank, mortgage company or mortgage broker providing the loan.
Loan Application: A statement of personal and financial information needed to apply for a loan.
Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
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