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News about Mortgages:
Borrowers get gift of lower mortgage rates - Seattle Post IntelligencerMortgage rates plunged after the Federal Reserve announced that it would buy up to $500 billion of securitized home loans. Rates on 30-year, fixed-rate, conforming mortgages fell well below 6 percent after the Fed announced Tuesday morning that it ...
Mathews one of a kind - Bedford Times-MailBEDFORD — Many remember Mark Mathews and his warm, greeting smile as a teacher at Bedford North Lawrence, but his legacy at the school may be better remembered on the hardwood as the head boys basketball coach for the Stars from 1993-96. Mathews ...
Kirk 'envious' of New Bedford Marriott deal Other city's challenges ... - Gloucester Daily TimesMayor Carolyn Kirk says she's "envious" of her counterpart, New Bedford Mayor Scott Lang. Lang landed a Marriott hotel on the New Bedford waterfront through an agreement announced last week. The developer, the Lafrance Hospitality Co. of Westport ...
Fed will buy $500 billion in securitized home loans - ScrippsNewsMortgage rates plunged after the Federal Reserve announced that it would buy up to $500 billion of securitized home loans. Rates on 30-year, fixed-rate, conforming mortgages fell well below 6 percent after the Fed announced Tuesday morning that it ...
Hurst man with cancer still fighting today's planned foreclosure of ... - Fort Worth Star-TelegramA Hurst man with cancer has filed court papers trying to stop today’s planned foreclosure of his home. The home of Frank Hartman, whose plight was featured recently in the Star-Telegram, is slated for the foreclosure auction this afternoon. The 67 ...
Struggling along - Sun and PressNot in the vault, he tells them. It's in the grand old hotel on Fall Street that reopens next spring. It's in the Downtown Deli, which will serve free Thanksgiving dinners to the hungry. It's in this fellow's home, and that one's. You know them. They ...
Morning headlines - WTGVJust before midnight, a six-car accident shut down portions of I-75. The accident happened in the northbound lanes near the Anthony Wayne Trail, but crews shut down southbound lanes to get to the scene. We're told no one was injured. We are also told ...
Did Russian Mafia loot Sandwich? Harwich charity to up the ante; Sea ... - Cape Cod TodayI nvestigators in Sandwich believe organized crime in Russia may be behind the disappearance of thousands of dollars in taxpayer money. Four illegal withdrawals were made over a 10-day period beginning Nov. 4. - Miller Sandwich Police Chief Michael ...
Not everyone is a loser in today's struggling economy - Fort Worth Star-TelegramMelissa Bezner evaluates a purchase at Half Price Books, where Dallas-Fort Worth sales are up 2.8 percent. STAR-TELEGRAM/JOYCE MARSHALL Losers might outnumber winners in this struggling economy, but Dan Parra is one of those coming out ahead. Parra ...
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 ...
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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