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News about Mortgages:
Detroit family homeless after morning fire - Bangor Daily NewsPittsfield firefighters battle a house fire at 27 River Road in Detroit, the home of Madeline Wheeler and her two sons, on Monday, November 17, 2008. A faulty furnace is suspected in the blaze, which gutted the home. Wheeler had no insurance on the ...
N.Y. town basks in glow of Hollywood - Bennington BannerNEW LEBANON, N.Y. — The hippies are gone. So are the detours. And the chilled lobster tails. The movie stars have left. Ang Lee's headed south. And there's a dearth of naked people running around Columbia County. This is the hangover in the ...
Current owner wins auction bid - Berkshire EaglePITTSFIELD — The ownership of the Rainbow Restaurant and the two-story commercial building in which it resides on First Street will remain with one member of the current owners. Michael DeLeo of Pittsfield, the husband of Marca Neary DeLeo, one of ...
State feels the pinch - Berkshire EaglePITTSFIELD — Though the Berkshire economy may be struggling, it is faring better than other parts of the country, a panel of five officials said yesterday. "We are going through challenges, everyone is," state Sen. Benjamin B. Downing, D-Pittsfield ...
Daily Digest - iBerkshires.comPittsfield – Legacy Banks Executive Vice President Steven F. Pierce announced today that Jacqueline S. McNinch has been appointed Vice President, Consumer Lending. In this capacity, McNinch will oversee Legacy’s Residential Mortgage and Consumer ...
Shamrock Village condos have edge in energy efficiency - Detroit Free PressPlace: Redford Township. Developer: Triangle Development; vice president is Pierre Nona. Builder is JNCC LLC; manager is Pierre Nona. Other Triangle projects: Gateway Village, Novi, attached condos from $189,000; Arbor Woods, Pittsfield Township ...
Patrick appoints 12 to public integrity task force - Boston GlobeGovernor Deval Patrick today announced the appointment of a 12-member public integrity task force that will include lawmakers, good government advocates, and ethicists. The task force includes Kimberly Budd, director of the Community Values Program ...
Legacy Banks boosts Q3 profit - Boston Business JournalLegacy Bancorp reports dip in net income in 1Q Interest income boosts Legacy 2nd-quarter earnings 28 percent Legacy Banks boosts Q3 profit Legacy Banks seeks approvals to open Latham branch office Legacy Bancorp Inc. (Nasdaq: LEGC) said profit in the ...
Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
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