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Class action on lenders moves ahead - Jonesboro Sun
JONESBORO — Circuit Judge David Burnett of Osceola will apparently carry an 8-year-old lawsuit over second-mortgage loans into his retirement. Burnett is presiding over the class-action suit that was originally filed in February 2002 in Greene ...

As economy falters, many trying to convert possessions into cash - Boston Globe
WASHINGTON - Patricia Ohlemiller packed up her telescope recently and headed to the Gaithersburg, Md., drop-off center for iSold It eBay . She hoped to recoup $150, minus commission, of its original $350 value. Planning to retire next year and ...

'The economy just fell apart and people really need cash' - Chicago Sun-Times
Randy Cohen, co-owner of a South Loop pawn shop, has never seen anything like the current parade of cash-strapped customers forced to sell their stuff. ''Anything people can possibly get ahold of to bring in to pay their mortgage and get gas in the ...

House rejects Wall Street bailout. Did it do right? - Orange County Register
WASHINGTON – In a nail-biter vote, the House of Representatives today shocked Capitol Hill and Wall Street and voted down the bipartisan $700 billion financial bailout by a vote of 228-205. Orange County's lawmakers split their decision: Reps. John ...

RMG Capital Corporation Reports Third Quarter Earnings - Market Wire
FULLERTON, CA--(Marketwire - November 21, 2008) - RMG Capital Corporation ( OTCBB : RMGC ), the holding company for Fullerton Community Bank, F.S.B. in Fullerton, California, announced results for the third quarter of 2008. RMG Capital Corporation ...

Foreclosures blanket O.C. - Orange County Register
Despite a return of buyer demand to the housing market, banks seized three times as many homes from delinquent borrowers in the third quarter than they did for the same period a year earlier. Banks foreclosed on 3,997 houses and condos, which was ...

Capital letters - Guardian Unlimited
I had a Portman mortgage which came under Nationwide's control after the merger. In March 2008, I reduced the loan with a payment of £170,000 on the basis that I could draw it back later if necessary. I also carried on making monthly payments at the ...

Will Vrdolyak ties hurt developer? - Chicago Sun-Times
Chicago developer Bill Smith has had as much of an impact on State Street as anybody since Marshall Field and Potter Palmer. His hard-driving deal-making combined with a preference for good architecture made him a favorite for City Hall- brokered ...

Taking stock of the economy via eBay - PhysOrg
He owns an iSold It franchise in Fullerton, Calif., that sells on eBay auction Web site items brought in by individuals and businesses. Recent economic turmoil seems to have motivated a lot of people to clean out the garage or company store room ...

Good housekeeping is a gamble that may win - Times Online
A helpful rule of thumb for assessing the fanfare that habitually precedes a Gordon Brown initiative, is that there will be less to it than meets the eye. Under scrutiny, these things tend to come apart in our hands, shot through with failures of ...

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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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