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Obama Names Richardson as Choice for Commerce Secretary - Washington PostPresident-elect Barack Obama has nominated Gov. Bill Richardon for Secretary of Commerce. Richardson is currently the governor of New Mexico. CHICAGO, Dec. 3 -- President-elect Barack Obama announced his choice Wednesday of New Mexico Gov. Bill ...
Mortgage rate drop sparks surge in consumer interest - San Jose Mercury NewsBorrowers descended on the home loan industry Wednesday after the federal government's latest move to shore up the financial system sparked a sharp drop in interest rates. Valley brokers said business picked up immediately as rates dropped from 6 ...
Bernanke: more action needed to cut foreclosures - SalonDec 4th, 2008 | WASHINGTON -- Federal Reserve Chairman Ben Bernanke called on the government Thursday to ramp up efforts to stem soaring home foreclosures, which are feeding into the country's deep economic troubles. Although a flurry of actions have ...
Crisis sparks reversal in electronic trading-study - ReutersNEW YORK, Dec 3 (Reuters) - The earthquake that shook markets this year drove increasingly computer-oriented investors back to more traditional trading methods, a study of U.S. equity trading has found. TABB Group's annual U.S. Institutional Equity ...
Hoboken's 47% Tax Rise Sparks Exodus Talk in Manhattan Option - BloombergDec. 1 (Bloomberg) -- The blue property tax bill Andrew Sapira received in the mail last month from Hoboken, New Jersey, has him questioning whether the city billed as a lower-cost alternative to Manhattan is worth it. A state monitor, installed ...
Facebook Shows Off Its Flexibility - WebProNewsFacebook just wants you to know: it's a friggin' Swiss Army knife. Over the past few days, a flurry of posts on the company's official blog have highlighted ways in which the social network is offering interesting new features or playing important ...
Sweden makes dramatic rate cut - EurActiv.comLONDON/TOKYO (Reuters) - Sweden cut interest rates by a record 175 basis points on Thursday, prompting speculation of dramatic cuts elsewhere in Europe to try to stop a global slump spreading faster than policymakers had anticipated. Japanese ...
Sponsored by: - Reno GazetteAs of Nov. 4, bank-owned properties and short sales comprised 45 percent of the Reno-Sparks market, said CalNeva Realty owner Mitch Argon, who regularly publishes a report on local foreclosure inventory on his Web site FreeNevadaMove.com. Bank-owned ...
8 songs for 'Black Friday' - AZCentral.com"Black Friday" is that magical day when retailers slash prices and customers trample each other to get the really great deals. With the economy tight this year, many people are going the extra mile to track down the best sales so they can give ...
Foreclosure: Nevadans hit hard in national crisis - Reno GazetteShelly Griese hates to move. But in the last four months, the 47-year-old Reno resident found herself doing exactly that. Twice. Packing boxes on a clear November afternoon, a tired and dejected Griese expressed disbelief on how quickly her life has ...
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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