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News about Mortgages:
Homeownership preservation clinic scheduled in Vineland - Bridgeton NewsVINELAND -- As New Jerseyans continue to struggle with economic uncertainty, Sen. Robert Menendez has announced an additional homeownership preservation clinic this Friday to offer information, direction and assistance to homeowners who are ...
Jersey City celebrates completion of "affordable" Tubman homes - Bridgeton NewsFederal, state and city officials opened eight new affordable housing units on Martin Luther King Drive with a ribbon-cutting ceremony this morning. The project is the first of Jersey City's affordable housing units born from the "CHOICE" program to ...
What is the single most important ramification of the election? - Atlanta Journal ConstitutionBefore I tackle this week’s topic, I must first congratulate Barack Obama. Even the election of a man with whom I deeply disagree makes me proud to be an American. I will probably object to his policy priorities, but the ascendance of our first ...
Workshop to help local homeowners - Daily JournalU.S. Sen. Robert Menendez, D-N.J., announced a homeownership preservation clinic will be held Friday in Vineland to offer information, direction, and assistance to homeowners who are experiencing difficulty in making their mortgage payments and are ...
People On the Move - St. Louis Business JournalKathy Dickmann was promoted to club services officer at The Bank of Edwardsville. Kim Vosholler was promoted to retail operations supervisor at its Highland Center. Premier Bank added Carol Garske as residential mortgage lender. Tim Weinhold was ...
Wall Street crisis may be good for Cumberland - Daily JournalVINELAND -- The financial crisis that federal and state governments are scrambling to fix is a potentially lucrative opportunity for well-prepared communities. And Cumberland County intends to be one of those communities. County officials, with an ...
Today's Mortgage Terms starting with D
Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
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