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Mortgage freeze hard on self-employed - Rocky Mountain NewsThe government’s recent moves to backstop the mortgage market have made it easier for many people with decent credit scores to get a loan. But for many self-employed people — even those with pristine credit — the mortgage freeze has yet to thaw ...
Bush administration ignored mortgage crisis warnings - Rocky Mountain NewsDamage from the housing crisis includes this foreclosed house in Denver. By the end of June, a record 9 percent of American homeowners were in foreclosure or behind on their mortgage. The Bush administration backed off proposed crackdowns on no-money ...
Couples staying together because of poor economy - Rocky Mount TelegramThe Denver couple divorced after six years of marriage but have been forced to live together for months because they can't sell their place or afford to set up separate households in this slumping economy. Snyder gets the master bedroom, while ...
'Fast Money' Recap: A Super Low Mortgage Rate - Street.ComWall Street had another rocky trading session on Wednesday but finished up for the second consecutive day. The markets waded through a mix of bad economic reports, details of the bailout plans of the Big Three automakers and more corporate ...
3 Men Watching Surf Drown in Rogue Wave Along California Coast - FOX NewsPOINT MUGU, Calif. — Three men drowned Thursday after being swept to sea by a rogue wave while watching the surf from a rocky outcropping along California's Central Coast. Two other men were pulled from the water and survived, said Capt. Bruce ...
HomeBanc to Host Grand Opening for Its Two New Tampa Branches - Yahoo FinanceTAMPA, Fla., Dec. 1 /PRNewswire/ -- HomeBanc, known for offering customers "distinctive personal service," will host a week-long Grand Opening celebration for its two new branches in Tampa December 8-12. The bank's two new locations are at Rocky ...
A Win for Civility - Wall Street JournalDemocrats will fall short of a 60-seat Senate supermajority in the 111th Congress. Unofficial results , with 97% of precincts reporting, show Sen. Saxby Chambliss with a wide lead over challenger Jim Martin, 57.4% to 42.6%, in Georgia's runoff ...
Buchanan: Socialist republic - MSNBCBarack Obama and George W. Bush seem to have come away from their study of the Great Depression with similar conclusions: To wit: After the Crash of 1929, the Federal Reserve did not move fast enough to save the banks and inject cash into the economy ...
Paulson pulling more tricks to bolster US economy - Marketplace.publicradio.orgWith 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 Federal Reserve ...
Unprecedented Market Bubble Has Led to an Unprecedented Collapse - Seekingalpha.comWe all know the common refrain police use at a crime scene to clear out a crowd: "Keep moving! There is nothing to see here!" Last week, I discovered that my 401K provider has been issuing a similar decree to nervous investors surveying the stock ...
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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