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Whee, the people! How to handle the throng at Obama's inauguration - Detroit Free PressNow, 200 years after the birth of Abraham Lincoln, the famous words of the 16th president of the United States -- "a new birth of freedom" -- serve as the theme for the historic inauguration of our 44th president. Millions of people are expected to ...
Commercial real estate prognosis - New Mexico Business WeeklyIf 2009 is no worse than 2008, those who own and lease commercial real estate will be relieved. Compared to residential real estate, office, industrial and retail properties were spared the nation’s foreclosure tide, which flowed from the subprime ...
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Political Punch - ABC News BlogsJake Tapper is ABC News' Senior White House Correspondent based in the network's Washington bureau. He writes about politics and popular culture and covers a range of national stories. Sources tell ABC News that officials on the Obama Transition Team ...
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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