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News about Mortgages:
Fitch Withdraws 'AA-' Rating on Battle Creek TIFA, Michigan's $4MM ... - PR InsideFitch Ratings withdraws its 'AA-' rating on the tax increment finance authority (TIFA) of the City of Battle Creek, Michigan's $4 million tax increment bonds, series 2008 (limited tax general obligation; LTGOs). The bonds were originally scheduled ...
Some strapped metro Atlanta homeowners get break - Atlanta Journal ConstitutionTim Collins finds himself living a national crisis. First he lost his job when his company moved. Then he fell behind in his mortgage and faced foreclosure. Now, he’s rebuilding his finances thanks to a last-minute deal with his mortgage company to ...
Repossession promise by RBS is 'PR stunt' say mortgage experts - Daily TelegraphRBS, which became part-nationalised last week, has announced that it will not start repossession proceedings against any of their customers unless they are at least six months in arrears. While experts have said this will give struggling customers ...
Dear Santa, - Chicago TribuneA letter to Santa Claus written by Ronisha Moseley, 10, caught the eye of volunteers at the U.S. Postal Service office in Chicago. She asked "to go away somewhere nice," in her letter. For the 4th grader, that somewhere would be one of the downtown ...
My warning to Gordon and his friend Alistair - Evening StandardEconomics is not a game. Bad decisions blight the future for hundreds of thousands, if not millions, of people. It's hard to imagine a discipline less suited to the febrile world of politics, where the influence of tomorrow's headlines has become an ...
China Cracks the Aircraft Market - Seekingalpha.com2008 has been quite a year for the country’s aviation industry. Over the past six months, China has created a giant new aircraft company to make jumbo jetliners in competition with Boeing ( BA ) and Airbus; it has merged the country’s two largest ...
Solid Black Friday sales fail to settle South Florida retail fears - Miami HeraldSouth Florida shoppers came out to spend on Black Friday, but most stuck to a list and a budget as the struggling economy left people hunting for deals this holiday season. From Wal-Mart in North Miami Beach to Kohl's in Hollywood and Toys R Us in ...
Libor rate latest - This is MoneyWe explain Libor , its relationship with the bank rate and why it is so important in the credit crunch and for influencing mortgage pricing... Commentary from Editor Andrew Oxlade (4 Dec): Libor has fallen from 3.79% to 3.72% overnight, a sizeable ...
An election ends, but union ads march on - Bangor Daily NewsThe 2008 general election is over, with Barack Obama winning the race for president and Susan Collins easily being re-elected over challenger Tom Allen to represent Maine in the U.S. Senate. But Mainers are still seeing issue ads similar to those ...
Banks move to match interest cut - BBC NewsTwo of Northern Ireland's 'big four' banks have said they will be matching the latest cut in interest rates. The Ulster Bank said all their tracker customers would benefit from the cut, but they are meeting to discuss other financial products. The ...
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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