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News about Mortgages:
16 charged in mortgage fraud schemes - NewsdaySixteen people have been charged with involvement in two Long Island -based mortgage fraud schemes which lost lenders $13 million, federal officials said Wednesday. The charges, unsealed Wednesday in Brooklyn federal court, accused one group of ...
Feds accuse 16 in LI mortgage fraud schemes - NewsdayMortgage fraud and cocaine - not a typical crime combination. However, federal officials yesterday arrested 16 people who they said were involved in two multimillion-dollar Long Island mortgage fraud schemes, including one suspected of being tied to ...
Public Notices - Amityville RecordNOTICE OF SALE SUPREME COURT - COUNTY OF SUFFOLK LASALLE BANK NATIONAL ASSOCIATION, AS TRUSTEE FOR THE STRUCTURED ASSET INVESTMENT LOAN TRUST 2005-2 c/o America's Servicing Company Plaintiff, AGAINST ANDREW HAGANS, et al. Defendant(s) Pursuant to a ...
Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
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