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When the Downturn Sailed Into Savannah - Gainesville SunSAVANNAH, Ga. Click to enlarge A container ship passes through Savannah, Ga. The nation’s economic downturn has begun chipping away at expansion and prosperity in this port city, dimming a 20-year boom. Stephen Morton for The New York Times DOZIER ...
After the bailout: a need to reinvest in America - Seattle TimesWith the Wall Street mortgage meltdown so massive its costs could reach toward $1 trillion, where's the economic plan to rebuild America's cities and infrastructure, to retool our businesses and people for a risky century? It seems totally missing in ...
My Turn: Fund schools to bail out economy - Burlington Free PressProposals to halt the slide into recession include: 1) Pumping federal money into failing banks and financial institutions; 2) Getting federal money into the hands of folks who are defaulting on mortgage payments; 3) Funding banks with federal monies ...
Real estate market slow to respond to gov't plan - Yahoo NewsKANSAS CITY, Kansas - By late Saturday afternoon, only three prospective homebuyers had visited the open house Valerie Morrill was hosting. The Prudential real estate agent recalled a year ago, she'd see 10 to 15 people during an open house in this ...
Letter: Illegal immigrants shouldn't have driver's licenses - Worthington Daily GlobeWolf Blitzer of CNN asked Barack Obama, “Do you plan to give illegal aliens driver’s licenses to those who want one, yes or no?” Obama responded, “Yes.” With a driver’s license an illegal alien can get government benefits, a mortgage ...
Retailers remain cautious about holiday sales - Fosters Daily DemocratThe Kittery Trading Post is cautiously optimistic that a combination of well-timed sales, festive events and customer loyalty will deliver a decent holiday shopping season. John Morrill, vice president of specialty sports and apparel, said the ...
Obama calls on Americans to support rescue plan - MLive.comAP Photo Democratic presidential candidate Sen. Barack Obama speaks at a rally in front of Morrill Hall at the University of Nevada at Reno, Nev. on Tuesday. RENO, Nev. - Democratic presidential candidate Barack Obama on Tuesday called for Americans ...
1992 Republican Party Platform - CNNAbraham Lincoln, our first Republican president, expressed the philosophy that inspires Republicans to this day: "The legitimate object of government is to do for a community of people whatever they need to have done, but cannot do at all, or cannot ...
AP Executive Morning Briefing - Denver PostLast major investment banks change status WASHINGTON (AP)—The Federal Reserve said Sunday it had granted a request by the country's last two major investment banks—Goldman Sachs and Morgan Stanley—to change their status to bank holding ...
Selections for Election Day - Hudson ReporterYes, let's not forget the eccentric Guttenberg resident who is running for both president of the United States and the U.S. Senate at the same time. In fact, this coming Tuesday, this year's historic presidential election is not the only one on the ...
Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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