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News about Mortgages:
Regulators shut down Downey Savings and Loan - Mojave Daily NewsWASHINGTON - Federal regulators on Friday shut down two big thrifts based in Southern California, saying they fell victim to the acute distress in the housing market in that state. The failures of Downey Savings and Loan Association, based in Newport ...
No parole for scam man - Edmonton SunConvicted mortgage-fraud kingpin Gohar Pervez plans to dive right back into the real estate business just as soon as he is released from prison, National Parole Board documents indicate. The same documents detail the reasons for denying Pervez's ...
Acclaimed artist draws on craft - Stratford-upon-Avon ObserverCELEBRATED artist Peter Kotka will canvas opinion with an exhibition drawing on 25 years of his craft. Kotka, from Alcester, celebrates his quarter of a century with exhibition No Turning Back at The Gallery at Stratford Leisure Centre. The ...
Feldman's End Game - Wall Street JournalDistressed-mall buyer Feldman Mall Properties Inc. may have found a way to ease its own distress without declaring bankruptcy. But few, if any, investors will come out whole. Feldman, which owns stakes in seven malls, has agreed to hand over to ...
Colonie Center owner to sell off three more properties - Daily GazetteLess than three months after revealing a fourth quarter bankruptcy filing was a possibility, the co-owner of Colonie Center said it is instead shedding three other shopping centers in a bid to say afloat. Feldman Mall Properties, the beleaguered Long ...
Paulson, Bernanke defend $700B bailout - Edmonton SunWASHINGTON (AP) — Treasury Secretary Henry Paulson expressed fresh reservations Tuesday about tapping a $700 billion bailout pool to provide mortgage guarantees to help stem soaring home foreclosures. Paulson and Federal Reserve Chairman Ben ...
'Steady as she goes' - Winnipeg SunLt.-Gov. John Harvard delivered Manitoba's provincial throne speech yesterday, outlining the NDP government's plans for the coming year. Those plans include a flurry of bans on everything from plastic bags and making phone calls while driving to ...
Energy prices knock inflation for loop - Ottawa SunSharply falling energy prices took the steam out of inflation last month, cutting the overall rise in Canadians’ cost of living to 2.6 per cent, down from 3.4 per cent in September. On a month-to-month basis, consumer prices fell one per cent in ...
U.S. home construction sinks to record low - Winnipeg SunWASHINGTON — Construction of new homes in America plunged last month to the lowest level on records going back nearly 50 years as U.S. builders slashed production while Wall Street nosedived. Embattled homebuilders, who enjoyed a five-year boom ...
Charming church minister who boasted of riches when in fact he was a ... - Daily MailHe's the charming church minister who boasted of family money and a glittering writing career. But Roderick Sangster was in fact a conman and bigamist. Here, 'wife No3' Jann tells how she turned detective to expose the truth... Everything was ...
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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