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News about Mortgages:
General Growth Properties receives loan extension - MSN MoneyCentralCHICAGO (AP) - Shopping-mall owner General Growth Properties Inc. said late Monday it reached an interim agreement to extend the maturity of $58 million in notes. The agreement extends the maturity of the notes from a subsidiary, The Rouse Company LP ...
Sheriff: Law requires processing foreclosures - Pocono RecordMonroe County Sheriff Todd Martin says his office has no choice but to continue processing the record high number of local home foreclosure notices. "I'd love to see some type of relief," Martin said Tuesday. "None of us want to see people getting ...
Monroe County forecasts deficit - Democrat and ChronicleMonroe County government could end the year with a deficit of more than $7 million, or it could break even, according to a report released Wednesday by county finance officials. Financial indicators for the first nine months of the year show that ...
State must end mortgage abuses - Detroit Free PressBeing forcibly removed from one’s home is one of the most stressful and devastating events a family can experience. This happens all-too-often in Michigan, as predatory home loans have jeopardized entire communities and seriously damaged our state ...
Business is booming, says ‘flipper' - Monroe Evening NewsBeing in the housing business right now doesn't seem like a lucrative career. But for Rich Sammons of Monroe, it couldn't be better. Mr. Sammons is buying foreclosed houses, then reselling them at a tidy profit. There's a common name for his type of ...
Ohio Police Chief Shoots Himself While Teaching Daughter Gun Safety - FOX NewsMONROE, Ohio — Police in southwestern Ohio say a police chief mistakenly shot himself in the thigh after giving his daughter a gun safety lesson. A police report says 54-year-old Middletown police Chief Greg Schwarber was preparing to clean his ...
Michigan tries to slow foreclosures - Detroit NewsLANSING -- Scrambling to do something about Michigan's rampant home foreclosure problem before the holidays, Gov. Jennifer Granholm and lawmakers are working on a flurry of bills to ease the squeeze on cash-strapped homeowners. Various measures would ...
Boesen lenders may see losses of up to $30 million - Des Moines RegisterLenders of the late Ed Boesen could lose as much as $30 million once his estate is settled, the estate's lawyer said Tuesday. "There could be as much as $30 million in unsecured debt owed to creditors," said James Monroe, lawyer and co-administrator ...
Schlafer is president-elect for TSBA in 2009 - Crossville ChronicleDan Schlafer, of Fairfield Glade, is the 9th District representative to the Cumberland County Board of Education and the federal programs director for Monroe County Schools. He has previously served as treasurer of the Tennessee School Boards ...
Franchise owners whet Rochester-area appetites for Moe's Southwest ... - Democrat and ChronicleWhen Andrew and Brad DeGrazia moved to the Rochester area, they brought a taste of their old home in Arizona with them. Since 2005, they have opened two Moe's Southwest Grill restaurants in the Buffalo area and three around Rochester. The most recent ...
Today's Mortgage Terms starting with L
Lender: The bank, mortgage company or mortgage broker providing the loan.
Loan Application: A statement of personal and financial information needed to apply for a loan.
Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
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