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Looking forward - Inquirer.netWhat a difference a year makes. When the year just ended began, the international financial community was in a generally upbeat mood. The on-and-off adverse reports about the subprime mortgage market in the United States hardly caused a stir in ...
Most Visited - Nolanchart.com(libertarian) Bad news accumulated further when Francois, known as "AnonOrange" (like "Agent Orange"), was arrested on 26 October 2008 for trespassing. He and three other Anonymous members had gathered for another "international protest" when he ...
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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