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W.Va. mom accused of burning ‘wimp’ into child - Las Vegas SunA West Virginia mother faces charges after being accused of burning the word "wimp" into her 6-year-old daughter's neck. Tammy Smith is charged with five counts of child abuse and of malicious assault, all felonies. Moundsville Police Chief Jim ...
Motel slaying case goes to jury - Las Vegas SunA Washoe County jury will begin deliberating the fate of a Reno man charged with fatally stabbing a motel guest while trying to obtain some methamphetamine. Lawyers in the murder trial of Fernando Gallegos gave closing arguments Friday. Gallegos is ...
Nothing in it for him - Sioux City JournalSIOUX CITY -- I have done it all wrong for 35 years. I have worked all those years, paid off my mortgage, have no credit card debt, and did not get myself overextended financially. Now as a taxpayer I have to pay for the people who got loans for ...
Memo to Congress and automakers: A modest proposal - Buzzflash.comSo the people's representatives and Detroit's Big Three remain locked in spirited competition for the nation's title of top cretin. All eyes are on the race this year, because there really haven't been any credible challengers to the White House's ...
USA Gymnastics hears no complaints about Karolyis - Buffalo NewsUSA Gymnastics has never received a complaint about Bela or Martha Karolyi in the nearly 30 years they have been coaching in the United States, the governing body said Wednesday, a day after a Romanian gymnast alleged the two had abused her. Trudi ...
Feldman's End Game - Wall Street JournalDistressed-mall buyer Feldman Mall Properties Inc. may have found a way to ease its own distress without declaring bankruptcy. But few, if any, investors will come out whole. Feldman, which owns stakes in seven malls, has agreed to hand over to ...
New York University - Chicago TribunePresident-elect Barack Obama and Democrats are facing the first important test of their promise of change, and they are about to land heavily on the side of the status quo in the most embarrassing and contemptible way. In their hyperventilated drive ...
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. Now that Hank Paulson has transformed the U.S. Treasury into Goldman Sachs South–buying, selling, lending to and merging companies–it ...
The Drop of a Feather - Wall Street JournalWhen Sarah Stein told her friends that she was writing a book about feathers, they might have assumed that her subject was a light one. If so, they couldn't have been more wrong. It turns out that "Plumes" -- in part the chronicle of a craze in early ...
Is this getting depressing? - Economist.comIT'S always darkest before the dawn, they say, but just how dark is that? At the moment, it's very hard to know. It's worth remembering that we might be caught in a spiral of irrational pessimism to match the exuberance that got us into this mess ...
Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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