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News about Mortgages:
Lofgren sees higher jumbo mortgage limits returning - San Jose Business JournalHigher jumbo mortgage loan limits will be part of the highly-anticipated economic stimulus package coming from Washington early this year, U.S. Rep. Zoe Lofgren said Wednesday. A temporary increase in the limit for lower rate conforming mortgages to ...
Home sales are up but prices are falling: Who's buying houses? - San Jose Mercury NewsFirst-time home buyers Andrew and Kaori Nielson made a deal on a two-bedroom San Jose townhouse last month, even though they knew that property values are falling. ''We probably would have waited longer, but our lease was up, and we have our son ...
Low mortgage rates tough to get - Contra Costa TimesMortgage rates are at their lowest level in decades, but thousands of Bay Area residents are discovering that qualifying for a loan is tougher than it has been in years. Banks are reluctant to lend at favorable rates to all but the most bulletproof ...
Mortgage rates are low, but loans difficult to get - San Jose Mercury NewsMortgage rates are at their lowest level in decades, but thousands of Silicon Valley residents are discovering that qualifying for a loan is tougher than it has been in years. Banks are reluctant to lend at favorable rates to all but the most ...
Bills.com: New Year's personal finance resolutions can minimize money ... - PR Inside"At this time last year, the stock market was near its record high, unemployment was near record lows, and the bursting housing bubble was the main financial concern facing the United States," said Ewing. "Today, with the country in a very different ...
Mandarin church expands building to serve community - Florida Times-UnionIt's just a combination of steel and brick right now, taking shape along San Jose Boulevard. If everything goes as planned, it will open as Mandarin United Methodist Church's new family life center this spring. Church officials plan to open it to the ...
Market Mover - American ReporterBOCA RATON, Fla. -- The thoughts below were written three years and one month ago. No one cared about my ideas. On local and national radio for more than 14 years I made the same health care warning loud and clear to anyone who would listen. I'll try ...
Aurora propery violations announced - Beacon NewsThe city of Aurora has filed the following property maintenance violation cases, which have been closed through the housing court system. Exterior and Interior Maintenance Violations: At a single-unit rental at 136 Evans Ave., owned by John Lamberti ...
Dodgers may be working on deal to unload Andruw Jones - Los Angeles TimesCenter fielder Andruw Jones is reportedly trying to be moved by the Dodgers, presumably to make room for Manny Ramirez. Report also has the Giants getting into the Manny Ramirez sweepstakes. I'm hearing the Dodgers are working on a deal that will ...
Latest News - dBusinessNews.comGrubb & Ellis Predicts a Challenging 2009 for Commercial Real Estate as Economy Weathers Recession SANTA ANA -- Grubb & Ellis Company , a leading ... Location Based Technologies Reports 10,000 PocketFinder Downloads for Apple iPhone and Google ...
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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