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Pilgrim’s Pride will keep plants running - Sand Mountain ReporterPilgrim’s Pride has no plans for additional layoffs or plant closings despite filing for bankruptcy protection. The poultry giant, Marshall County’s largest employer, is seeking Chapter 11 protection. That would free the company from the threat ...
Business briefs: Rate continues to fall on 30-year mortgage - Herald TribuneSOUTHWEST FLORIDA -- The average rate for a conventional 30-year fixed mortgage on a owner-occupied, single-family home with 20 percent down on Monday afternoon was 5.625 percent, down from Friday's rate of 5.75 percent, Sarasota's Sentinel Mortgage ...
Capitalism needs to be rescued by capitalism - Pittsburgh Tribune ReviewCapitalism seems to have stranded its passengers. Their vehicle is laid up. The free enterprise model is in for repairs. And who knows when it will come out? Whatever good emerges from the trillion-dollar bailout and the multi-billion "stimulus" that ...
The Foundry sale delay asked - Pittsburgh Tribune ReviewThe bank that holds the mortgage on The Foundry shopping center plans to ask a Washington County judge today to delay a sheriff's sale on the subsidence-damaged property until March 6. The South Strabane property is scheduled to be sold Friday, but ...
Mortgage fraud suspects find little refuge - Pittsburgh Tribune ReviewFederal prosecutors in Western Pennsylvania are earning a reputation for tough treatment of those who commit mortgage fraud, even though the problem isn't as bad here as it is elsewhere. The district headed by U.S. Attorney Mary Beth Buchanan trailed ...
Register for FREE - Wall Street JournalANTIOCH, Calif. -- When the Federal Deposit Insurance Corp. seized control of IndyMac Bancorp -- the nation's 10th-largest mortgage lender by loan volume -- the agency vowed to ease terms for many of its troubled borrowers. In doing so, the FDIC ...
Sheriff's sale set for 10 of investor's holdings - Pittsburgh Tribune ReviewA Pittsburgh-based investor faces the loss of 10 properties -- most housing rental apartments -- in the city and nearby communities at a Dec. 1 Allegheny County sheriff's sale. R.A.E.D. Investments Inc. of Pittsburgh and Davin Investments Inc. are in ...
Feds launch mortgage aid effort - Rutland HeraldWASHINGTON — Once again, the government has offered another plan to help troubled homeowners. Once again, critics say it doesn't go far enough. The plan announced Tuesday by federal officials and mortgage giants Fannie Mae and Freddie Mac sounds ...
Realty One Going Green - BeaconWhere there is smoke, there is usually fire. That old adage came true on Saturday when Pittsburg-based Howard Hanna “officially” announced that they had indeed acquired Realty One. Five years ago, they bought out Northeast Ohio real estate giant ...
National City customers get reassurances from buyer - Sandusky RegisterConcerned about the stability of her longtime bank, Aretta Smith received a call from a National City spokesperson last week reassuring her that her money would be safe. The next day, she learned the bank had been sold. "That really got me," said ...
Today's Mortgage Terms starting with S
Second Mortgage: An additional mortgage that has rights that are secondary to the first mortgage.
Seller’s Market: Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.
Settlement Costs: Money paid by the borrowers and sellers to complete the closing of a mortgage.
Settlement Cost (HUD Guide): HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.
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