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Australia slashes interest rate to avert recession - AOL
SYDNEY, Australia -Australia's central bank slashed its key interest rate by one percentage point Tuesday in the latest bold move by the country's top finance officials to stave off a recession. The reduction is the fourth in three months by the ...

TransUnion: 3Q mortgage delinquencies shoot higher - The State
NEW YORK -- The percentage of people who are two months behind on their mortgages shot up in the third quarter from the same period last year, according to credit reporting agency TransUnion LLC. For the quarter ended Sept. 30, 3.96 percent of people ...

Lenders offering cut price mortgages to wean borrowers off trackers - Daily Telegraph
But far from being good news for home owners, experts warned it was a way for lenders to ensurse borrowers with tracker mortgages do not get too cheap a deal if interest rates fall further. West Bromwich Building Society has written to 15,000 ...

Notice of Mortgage Foreclosure Sale, Demars - Daily Journal
(SE3 SW3) of Section Six (6), Township Sixty-nine (69), Range Twenty-three (23), described as follows: Beginning at the Southwest (SW) corner of said SE3 SW3, thence North Three Hundred Seventy Feet (N 370’); thence East Two Hundred Five Feet (E ...

3 new reports reveal battered economy - My West Texas
WASHINGTON - The government released a trio of reports Wednesday that paint a bleak picture of the nation's economy: Jobless claims remain at recessionary levels, while Americans cut back on their spending by the largest amount since the 2001 ...

Paulson pulling more tricks to bolster US economy - My West Texas
WASHINGTON - With the economy showing further signs that it is headed into a steep swoon, Treasury Secretary Henry Paulson is pulling more tricks out of his bag to try bolster the country's battered financial sector. The administration and the ...

Two big banks cut mortgage rate - Edmonton Sun
TORONTO -- Two of Canada's big banks are cutting mortgage rates on a variety of terms, reflecting a drop in borrowing costs in the bond market, where banks finance their mortgage lending. The Royal Bank of Canada said yesterday it is cutting rates ...

Goshay: Optimism needed now more than ever - MetroWest Daily News
President-elect Barack Obama made a simple observation Wednesday about the current economic crisis that some people may have missed. Something that, in our despair, we seem to have thrown out with the bath water. He said simply, "We'll get through ...

New Farm median house price surges to $1 million - News.com.au
HOUSE hunters are in danger of being locked out of the inner-city Brisbane market, with the median price in New Farm having surged above $1 million. According to RP Data figures, a 12 per cent increase in the median house price (to $1.1 million) in ...

New home sales fall to lowest point in nearly 18 years - Peoria Journal Star
 Sales of new homes fell in October to the lowest point in nearly 18 years while the median price of a new home dropped to the lowest level since 2004. The Commerce Department reported Wednesday that new home sales decreased 5.3 percent last month ...

Today's Mortgage Terms starting with H

Home Equity Line of Credit: A type of revolving credit in which your home is used as collateral.

Home Equity Loan: A revolving line of credit or loan based on the equity in the mortgagor's property. The property is the collateral for the loan, which is usable for any purpose.

Housing and Urban Development (HUD): A U.S. government agency created to introduce federal housing and community development programs; manages the Federal Housing Administration.

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