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Courtney criticizes Rell's mortgage plan - Record-JournalA local congressman is looking for assurance that Eastern Connecticut won’t get shut out of a federal program aimed at helping homeowners avoid foreclosures. U.S. Rep. Joe Courtney, D-2nd District, has scheduled a press conference at 1:30 today in ...
Lawmakers object to Rell's stance on money for crisis - New London DayEastern Connecticut legislators, led by U.S. Rep. Joe Courtney, have banded together to protest Gov. M. Jodi Rell's proposal to exclude the region from most of a $25 million federal program aimed at stabilizing neighborhoods in crisis. Courtney, D ...
Johnson Capital racks up $120M in deals - Denver Business JournalJohnson Capital ’s Denver office arranged $120 million in financing for real estate transactions in the third quarter, according to the company. Mike Cantwell, managing partner of Johnson Capital’s local operation, attributed his company’s ...
House member argues for immunity from lawsuit - Buffalo NewsA Marine who sued Rep. John Murtha for defamation urged a federal appeals court Tuesday to order the Pennsylvania Democrat to testify under oath in the case. An attorney for Staff Sgt. Frank Wuterich told the court that he needs Murtha's deposition ...
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 ...
Meriden Sees Spike In Foreclosures - Eyewitness News“It’s not helping the property value,” he said. “They not only impact the people around it, it impacts the surrounding neighborhoods." Meriden officials said they plan to use newly awarded federal money from the state to help flip the homes ...
Murphy vs. Cappiello - New Haven AdvocateThe battleground: The Fifth District spans Northwestern Connecticut and contains 41 cities and towns including Danbury, Meriden, New Britain and Waterbury. It's an eclectic mix of blue-collar workers and wealthy suburban commuters, and while the area ...
City could get $1.8M in foreclosure aid - New Britain HeraldNEW BRITAIN — The city will get $1.8 million to buy and reuse foreclosed homes, according to a plan announced Wednesday by Gov. M. Jodi Rell. The money is part of $25 million being given to the state as part of the federal Housing and Economic ...
Foreclosures create city of nomads, but Rell promises aid - New Britain HeraldNEW BRITAIN — The city will get $1.8 million to buy and reuse foreclosed homes, according to a plan announced Wednesday by Gov. M. Jodi Rell. The money is part of $25 million being given to the state as part of the federal Housing and Economic ...
Governor has plan to alleviate foreclosure crisis - Amity ObserverGovernor M. Jodi Rell Wednesday announced that the state has developed a draft plan to allocate more than $25 million in federal funds intended to help communities respond to the national foreclosure crisis. The federal funding is part of the Housing ...
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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