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Empty homes a danger to fire fighters and a nuisance to officials - MetroWest Daily News
As the staggering economy leads to more foreclosures, local officials are left to deal with the problem of keeping the empty homes from becoming eyesores and safety hazards. On Labelle Street in Marlborough, the contents of a foreclosed home ...

Family avoids foreclosure as community gives $7G - New Haven Register
MILFORD — Milford Special Education PTA President Susan St. Pierre calls it a "Holiday Miracle Story." Sharon Jansen described it as an "emotional roller-coaster" that has left her family touched by the outpouring of generosity from the community ...

Editorial: Stemming the tide of foreclosures - Enterprise
The national numbers are staggering: An estimated 1.5 million homeowners went through foreclosure last year, and another 1.2 million in the first six months of this year. The FDIC estimates that unless something is done, between 4 million and 5 ...

High electric rates concern RTM - TriVallyCentral
BRANFORD - The Representative Town Meeting is considering taking a stance against the state's escalating electric rates. The grass-roots organization, Fight the Hike, has asked Branford officials to sign a resolution that will be presented to state ...

Business Digest - Providence Journal
FM Global to increase work force FM Global, the property insurer based in Johnston, plans to increase its information-technology work force by 6 percent by year’s end. It plans to hire 26 information-technology professionals and a dozen paid ...

Bonnie Miller Earns Certified Mortgage Instructor Designation from ... - PR.com
Bonnie Miller, CMI, recently qualified for the Certified Mortgage Instructor (CMI) designation through the National Association of Professional Mortgage Women (NAPMW) Institute of Mortgage Lending (IML) training program. Milford, MI, October 11, 2008 ...

Former Prosecutor In Milford Charged In Thefts - Hartford Courant
A pedestrian was struck in the head during a robbery on Franklin Avenue Monday, police said. The holdup was reported about 3:30 a.m., police said. The male victim was walking in the area of 156 Franklin Ave., when a black Toyota pickup pulled up. A ...

Community rallies around sick girl - New Haven Register
MILFORD — When Sharon Jansen’s severely ill 7-year-old daughter, Claire Kenny, almost died in her arms before being revived, she thought she’d seen the worst. After more than 10 surgeries, Claire is beginning the long road to recovery, but last ...

Pork grilling for Arlen Specter in Milford - Pocono Record
MILFORD — The pork filled $700 billion bank bailout was the top topic at a Milford town hall meeting with U.S. Sen. Arlen Specter, R-Pa., on Monday. During congressional fall recess, Specter is making 26 stops throughout Pennsylvania hearing ...

Crane: In Marlborough, foreclosure is on the table - Milford Daily News
The recent turmoil in the financial markets has been well-documented. Newspapers in states across the country contain reports about homeowners struggling under the weight of unaffordable mortgages. Headlines scream about double digit increases in ...

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Today's Mortgage Terms starting with F

  • Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
  • Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
  • Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
  • FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
  • First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
  • Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
  • Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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