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News about Mortgages:
Downtown Raleigh condo sales are slow, steady - Triangle Business JournalDanny Williams and fiancée Tanya Haddad atop the RBC Plaza building, where he owns a 27th-floor condo. RALEIGH – Downtown Raleigh condominium projects are not meeting the goals set by developers when dirt was turned, but slow and steady progress ...
Housing problem expands in state - Lynchburg News and AdvanceThe number of foreclosures in Virginia more than doubled during the first 11 months of 2008, compared with all of 2007. Data analyzed by the Richmond Times-Dispatch show 27,938 foreclosures statewide in the 2008 period for all property types ...
Today's Mortgage Terms starting with J
Jumbo Loan: A mortgage over the $300,700 limit established by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. A jumbo mortgage tend to carry a higher interest rate than a conventional mortgage.
Junior Mortgage: A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid down first.
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