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What's new in the business scene - Poughkeepsie JournalJohn Murray, president and chief executive of Rose & Kiernan Inc. announced Tammy Holt has been ap-pointed a personal lines client manger in the insurance company's Kingston office. Holt previously worked at the John J. Liggan Insurance Agency in ...
Heritage bank announces new loan officer - Leaf ChronicleJohn Peck, president and CEO of Heritage Bank, announces the addition of Mark Stewart as mortgage loan officer for the Christian County, Ky., market. Stewart will be responsible for residential mortgage loans in the Christian County area. He is a ...
Bush ignored financial warnings - Edmonton SunWASHINGTON -- The Bush administration ignored remarkably prescient warnings that foretold the financial meltdown, a review of regulatory documents shows. "Expect fallout, expect foreclosures, expect horror stories," California mortgage lender Paris ...
Happy Holidays? Economy Goes From Bad to Worse - CNBCThere are ample reasons for America's shoppers to act like grinches this holiday season, with lost jobs, wilting retirement accounts and shrinking home values topping the list. And if anyone needed more evidence of consumers' weary state and the ...
Leave a Comment - PopsugarAsk Savvy: Should I Split the Mortgage With My Boyfriend Who Earns More? Will Cyber Monday Make Up For Black Friday? Six Steps For Balancing Work and Cyber Monday Sales I'm Asking: What Black Friday Deals Did You Score? Did You Spend More Than You ...
'Black Friday' won't stave off black days ahead: Analysts - Ottawa SunWASHINGTON (AP) — U.S. retail shoppers hunting for holiday bargains on ”Black Friday” won’t be enough to stave off what’s likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims ...
Globe editorial board editor on why Harper should resign - Globe and MailDarcy Meyer from Canada writes: John, you didn't take one question from someone defending Harper or posing an arguement why he should not resign. This would contrast your view and stance, and allow you to show your justification for such a call. I ...
The Tories are doing what they must – but they don't like it - Globe and MailJust In from Canada writes: 'The Conservatives raise money more easily than the others, so by eliminating the $1.75 per vote subsidy, they are trying to use this economic crisis for their partisan advantage. Canadians fought a long battle to get ...
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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