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Dover Town Board trims budget to 2.8% - Daily Freeman & Sunday Freeman
Despite making some cuts that board members deemed unsavory, members of the board said that they were very happy to be able to come up with a document that boasts one of the lowest tax increases in Dutchess County. After holding a public hearing on ...

Stamford-based Harman readies to weather economic storm - Stamford Advocate
As Americans cope with lost jobs, mortgage and credit card debt, falling home values and stock prices, Harman International Industries of Stamford said it hopes consumers will keep buying home entertainment speakers that can cost as much as $2,300 ...

How $700 billion Paulson-Bernanke plan may help house prices - Yahoo News
New York – Foreclosed house for sale. That sign has been popping up with rising frequency in front yards across America as banks unload foreclosed homes. Moreover, the distressed real estate market is causing housing prices to drop further ...

Fire guts Hyde Park home; see video - Poughkeepsie Journal
HYDE PARK - Ralph Hoffman had just arrived home from work Monday and was doing some repair work on his truck when a neighbor stopped by at about 4:30 p.m. "He said, 'Your house is on fire,' " Hoffman said. Firefighters from several departments ...

Be conservative is buzz word locally - Poughkeepsie Journal
Big business news used to happen Mondays through Fridays. But lately, weekends have been the prime time for breaking news about financial system breakdowns. And that’s leaving people in a funk about what to do. Experts say this is a time to be ...

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Today's Mortgage Terms starting with D

  • Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
  • Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
  • Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
  • Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
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