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News about Mortgages:
Bank fees separate big banks from the local guys - Long Island Business NewsEarlier this month, the Wall Street Journal reported that large banks are raising fees in an attempt to generate revenue amid the economic crisis. For instance, Citibank recently began charging customers a $10 overdraft protection transfer fee to ...
In North Port, code violators pay dearly - Herald TribuneNORTH PORT - Andy Schade got a $300 Wal-Mart swimming pool last year as a treat for his daughter's seventh birthday. Now, his father faces nearly $14,000 in city fines -- punishment for running afoul of North Port's relentless code enforcement system ...
KAREN KERR-OZIMEK - NewsdayBACKGROUND: Kerr-Ozimek, 47, is making her first run for public office. She began her career in the Nassau district attorney's office, working there for 16 years before starting a private practice in Huntington two years ago. She is also the village ...
PRISON STRIPES FOR POWERBROKER - New York PostDisgraced former labor leader Brian McLaughlin - who was charged with illicitly amassing more than $2 million - admitted in court yesterday that he looted political, union and charitable bank accounts, while simultaneously rigging bids and taking ...
Who has best plans for tax relief, job growth? - Northport TimesDespite their common aim of reducing the cost of living for working Long Island families, Rep. Steve Israel (D-Dix Hills) and Republican challenger Frank Stalzer of Huntington couldn't have more opposing views. Four-term incumbent Israel has written ...
Smithtown Bancorp Announces Third Quarter Earnings - MSN MoneyCentralSmithtown Bancorp (NASDAQ: SMTB), the parent company of Bank of Smithtown, today announced that the Company had earnings for the third quarter of 2008 of $4,607,000 or $.47 per share. These figures represent an 21% increase in net income and a 21 ...
US commits US$800b to unfreeze credit markets - Business Times MalaysiaWASHINGTON: The US government, still struggling to manage a severe financial crisis, unveiled two new programmes yesterday that will provide US$800 billion to try to help unfreeze the market for consumer debt from home mortgages to credit cards. The ...
Asia Roundup: Bargain hunting spurs rally - Business Times MalaysiaHONG KONG: Stocks in Asia rebounded yesterday on the back of a rally on Wall Street and as traders stepped in to pick up bargains following three days of heavy losses amid fears for the global economy. "The rally is just driven by bargain hunting ...
The ZIP where debt resides - Herald TribuneMore than 68 percent of the 3,186 single-family residential mortgage holders within North Port's 34288 ZIP code have so-called "negative equity mortgages," according to an analysis by First American CoreLogic, a California-based real estate data ...
At home with the Sabans - Times DailyTerry Saban appeared at the door of the ivy-covered, French chateau-esque home with a warm smile and gracious welcome. The first family of University of Alabama football was packing for their annual trek to Lake Burton in northern Georgia, but there ...
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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