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News about Mortgages:
Imogen Milford and Mark Henry in a fix over country cottage - News.com.auIMOGEN Milford and Mark Henry were thrilled to put an end to their high rental costs this year by buying a cottage at Daylesford. But now they regret fixing their home loan at 7.9 per cent for three years. They locked in the rate two months ago ...
Housing programs mostly unscathed in budget cuts - Milford Daily NewsEditor's note: This story is part of a series of reports on the impact of Gov. Deval Patrick's state budget cuts. A quick reading of Gov. Deval Patrick's $11.5 million in cuts to state housing programs can leave a reader grim. A mortgage subsidy ...
Cops: Retiree pulled pistol on repo man - Connecticut PostMILFORD -- A city man, charged with pointing a gun at the tow truck driver trying to repossess his car, walked home Monday from Milford Superior Court with his wife, after she posted $15,000 bond to free him. Herbert Young, 66, of 125 North Ave ...
Goshay: Optimism needed now more than ever - Milford Daily NewsPresident-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 ...
What to do - Memphis Commercial AppealThe Engineers' Club of Memphis meeting and lunch: 11:30 a.m., Holiday Inn at the University of Memphis, 3700 Central. Col. Thomas P. Smith, district commander, Memphis District, U.S. Army Corps of Engineers, will present arms. Fee: $14. Christian ...
Guido Tino remembered by many - TriVallyCentralGuido Tino loved life. The words used to describe him by his friends and family include "dynamic," "a total giver," "enthusiastic," and "a remarkable humanitarian." The 71-year-old Sherman resident, who died Nov. 21 of complications from a recent ...
Week in Review - Thursday, Nov 27 - Delaware OnlineTraffic is jammed getting into the Tanger Midway outlet center near Rehoboth tonight as shoppers wait for the locks to turn at the stroke of midnight. LAUREL -- When Josh Kosiorowski made a catch in the corner of the end zone with 28 seconds ...
Malloy prepares to run two races - Stamford AdvocateSTAMFORD - Mayor Dannel Malloy said he intends to run for mayor next year, while still aiming for the governor's office in 2010. Until recently, Malloy was mum on his re-election plans. But in recent weeks, he has begun to openly acknowledge plans to ...
Obama tells NY Times he'd do better without Fox News around - Los Angeles Times BlogsThe New York Times, of all places, has a long interview coming out Sunday with the freshman senator from Illinois, Barack Obama. In it, the Democratic presidential nominee, who's leading in most recent political polls, still bemoans the existence of ...
Bonnie Miller Earns Certified Mortgage Instructor Designation from ... - PR.comBonnie Miller, CMI, recently qualified for the Certified Mortgage Instructor (CMI) designation through the National Association of Professional Mortgage Women (NAPMW) Institute of Mortgage Lending (IML) training program. Milford, MI, October 11, 2008 ...
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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