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Business Digest - Providence JournalExtra benefits for laid-off workers The 400 workers who lost their jobs when KIK Custom Products Inc.’s plant in Cumberland shut down will be eligible for extra help through the federal Trade Adjustment Assistance program, which helps laid-off ...
Paine's property to go on auction block - Union LeaderThe main residence on the Paine property is a 5,300-square-foot contemporary Colonial built in 2000. DURHAM - Local businesswoman Katie Paine's sprawling 48-acre property on the Oyster River has been put on the auction block by the bank that holds ...
Virtual Open House: Windham colonial offers lots of space, privacy - Union LeaderPrivacy and beauty is what you will find with this 11-room, 5,120-square-foot colonial in Windham, situated on 6.87 acres. The property features lush landscaping, stone walls and perennial English gardens that bloom throughout the season. Located in ...
Hot Properties: Less than 700 gallons of propane heat 4,000 square ... - New Hampshire Union LeaderAMHERST – Heating a 4,000-square-foot house with under 700 gallons of propane this winter is what awaits the next owner of this 2005 New England colonial. Located at 5 Parker Farm Lane, this house has 12-inch-thick exterior walls that have helped ...
Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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