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News about Mortgages:
Kondracke: Will Obama adopt a pragmatic energy policy? - Milford Daily NewsPresident-elect Barack Obama is proving to be remarkably pragmatic and centrist as he tackles the global economic crisis. Big tests are yet to come on energy, however. Will Obama tilt toward fossil-phobic environmentalists who heavily influence the ...
Milford Person of the Year: Michael Shain - MetroWest Daily NewsAt any given moment, he's likely to be organizing a blood drive, planning a dinner for military families, leading a seminar on homebuying or scheduling a magic show. He's also probably thinking about next year's Pumpkin Stroll while hosting a cable ...
Editorial: Bailout must not buy parachutes - Milford Daily NewsAs if to rub salt in the wounds left from an unprecedented year of recklessness and irresponsibility, Wall Street served up a final indignity this week. Among the casualties of the meltdown in the financial services industry was the venerable firm of ...
People on the Move - Scranton TimesGraham Kiddwatson has been named executive chef at the resort in Milford. He attended the Culinary Institute of America and has been a chef for 40 years. FIRST LIBERTY BANK & TRUST Douglas Klinger of Dallas has been hired as a commercial banking ...
Fuel bank's donations down - TriVallyCentralThis week, Peg Molina, as usual, seemed rushed. "We're busy. I've got to go," the director of the Department of Social Services said. After a season where Ms. Molina termed donations to the annual Santa Fund and the Food Bank "great," but donations ...
Numbers don’t tell whole story of real estate market - Amity ObserverThe days of the red-hot real estate market might be over, but Realtors in Fairfield and New Haven counties say the market is far from dead, despite continued slumping sales and the worsening recession. According to the Boston-based Warren Group ...
A look back at 2008 - Danbury News-TimesIn a year that brought about profound change in the nation's future leadership, a year marked by United States involvement in two draining wars, a year that witnessed the deaths of Nobel Prize-winning authors and Oscar-winning actors, it would be ...
On the Horizon: 2009 may bring slow, gradual improvement - New Haven RegisterWith a new year comes a renewed hope that the economic doldrums of 2008 will begin to fade in 2009, albeit slowly. While the nation grapples with a recession crossing the one-year threshold, many of the region's economic indicators finished last year ...
Today's Mortgage Terms starting with D
Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
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