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News about Mortgages:
Outgoing Sheriff Files for Bankruptcy - WXIA 11 AliveJONESBORO, Ga. (AP) -- Victor Hill has ended four controversial years as Clayton County's sheriff by filing for bankruptcy, saying he is unable to pay damages of up to $1.7 million from several lawsuits. Hill's single term ended at midnight Wednesday ...
Victor Hill files for bankruptcy - Atlanta Journal ConstitutionOutgoing Clayton County Sheriff Victor Hill filed for bankruptcy during his last week in office. Hill, who ends his single term at midnight Wednesday, filed suit Tuesday in U.S. District Court, claiming he does not have enough money to pay $1.7 ...
COMMON PLEAS - Salem News OnlineChase Home Finance v. Jeffrey C. Watson of East Liverpool; foreclosure sought. Countrywide Home Loans v. Daniel and Lori Earich of Salineville, etc; foreclosure sought. Bank of New York v. Terri L. Presto of Wellsville, etc; foreclosure sought. U.S ...
Several developments were brought to fruition - Pahrump Valley TimesThe Home Depot store, a 130,000-square-foot big box store opened Aug. 14 on Highway 160 and Basin Avenue, is the most obvious sign of growth in Pahrump. The project was estimated to create 130 jobs during groundbreaking ceremonies in October 2007 ...
More homes up for auction - Dubuque Telegraph HeraldIt's heartbreaking, financially draining and, for many, foreclosure is the last resort. Foreclosure is the last option when the only thing left to do is walk away. But as the number of sheriff's sales spiked across the tri-states in 2008, it seems ...
Seeing ahead in 2009 - Boston GlobeKarl Case made a reputation as a distinguished housing sage with prescient calls on the real estate market. A Wellesley College economist whose name is on the most widely followed barometer of the housing market, the S&P/Case-Shiller home price index ...
Loan modifiers accused of bilking homeowners - Atlanta Journal ConstitutionWashington —- A growing industry has emerged to take advantage of the unprecedented wave of foreclosures, charging distressed homeowners for help negotiating better loan terms —- a service provided for free or for a nominal fee by many nonprofits ...
Realtor foresees dip in Toronto - Toronto StarThe average price of a house in Canada is likely to decline by 3 per cent this year as sales activity continues to cool, according to Royal LePage Real Estate Services. The number of residential resales is forecast to decline 3.5 per cent across ...
Credit crunch: the big picture - Toronto StarAll week, you've been hearing about subprime this, and asset-backed that, and commercial paper whatever. Here's the big picture: the stock market has been going strong for years. This pullback is a natural and expected result – some say it was ...
Not a regular Joe, he jogs and juggles at the same time - Sun-JournalST. LOUIS - Joe The Juggler was juggling and jogging one morning recently. His sparkly pins whirled and tumbled beneath the canopy of trees as he moved west. Passing drivers did double takes then slowed to get a gander. Oncoming runners and cyclists ...
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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