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News about Mortgages:
Real estate transfers: Nov. 17 - Knoxville News SentinelProvision Properties LLC to East Tennessee Healthcare Development LLC, in Dowell Springs subdivision, $2,138,600. Kamilia Kozlowski to East Tennessee Healthcare Development LLC, in Dowell Springs subdivision, $1,590,426. About Face Properties LP to ...
Business prompted change of heart on bailout vote - Knoxville News SentinelBo Carey, right, owner of Greer's Home Furnishings and Appliance in Loudon catches up Rick Dover, a Lenoir City small business owner. Carey, who's active with the National Federation of Independent Business' Tennessee chapter, changed his mind about ...
Come join the Parade - New Hampshire Union LeaderThe Parade of Homes being held this weekend and next is a great opportunity to find inspiration for updating your current home, check out new designs and the latest features or find that dream home you've always wanted. Produced by the professionals ...
Ways to protect your email from hackers - WATEIt doesn't matter if you use Hotmail, Yahoo! Mail, Gmail or any other web based email. You could be the next victim to a hacker if you're not careful. But know there are ways to protect yourself. The president of a local mortgage company says ...
Knoxville residents join protest across the country for same-sex ... - WATEProtestors opposed to a ban on same sex marriage held simultaneous rallies in cities across the U.S., including Knoxville, Saturday. Both defendants accused of plotting to kill President-elect Barack Obama claim the grand jury in Tennessee that ...
Final push in GOP land - Times-ArgusSen. John McCain and Sen. Barack Obama began their final push for the White House on Saturday, returning to the themes that had marked their candidacies, with Obama calling for a break from the Bush era and McCain challenging Obama's credentials to ...
TVA CEO Tom Kilgore (Photo Courtesy: Tennessee Valley Authority) - WVLTNASHVILLE, Tenn. (AP) -- The Tennessee Valley Authority board has approved increasing the utility chief executive's compensation by nearly a half million dollars, and Congressman Jimmy Duncan, Jr., has sent a letter to the TVA board chairman ...
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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