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'It's the economy, stupid' Top 10 business stories of 2008 - Eagle-TribuneIn every way imaginable, the downturn in the economy and the fluctuating price of petroleum products had an impact on everyone on the planet this year. In the Merrimack Valley, the crumbling real estate market hit the construction industry. Even huge ...
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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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