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News about Mortgages:
A Rush Into Refinancing as Mortgage Rates Fall - Gainesville SunThe housing market may finally be getting some relief, with lower mortgage rates already encouraging refinancing and Treasury officials considering ways to entice new buyers. Click to enlarge Low rates enticed Javier and Irina Lattanzio to refinance ...
Crist announces delay in foreclosures - Gainesville SunTALLAHASSEE - With Florida residents facing one of the highest foreclosure rates in the nation, Gov. Charlie Crist announced Monday that the state's bankers and credit unions have agreed to a voluntary delay in any foreclosure sales on homes or new ...
Excerpts from editorials in Florida newspapers - Miami HeraldThe Gainesville Sun, on the new speaker of the Florida House of Representatives: The new speaker of the Florida House of Representatives, Ray Sansom, R-Destin, seems to be carrying on the tradition, but with a twist - a six-figure job for himself. On ...
Business Briefs - Daily BreezeSteven A. Berkowitz announces the start of Steven A. Berkowitz & Associates, a consulting group specializing in Foreclosure Mitigation Consulting and Property Tax Reduction consulting. Berkowitz was a mortgage banker in Lee County for seven years ...
Program Following Up With Ailing Child - The LedgerLAKE WALES | "He's in remission," Miranda Appleton says of her 5-year-old son, Blake, the simplicity of her statement carrying the baggage of uncertainty that may stretch another 10 years or more. Click to enlarge (L-R) Miranda Appleton, Morgan ...
Home Value Highwire - WTOP RadioWASHINGTON - If you want to buy in today's housing market, you may not be able to seal the deal or get a loan, unless you have cash and good credit. You need cash to close the deal. The days of zero-down are gone. That's the new reality of the ...
Florida's Depression - St. Petersburg TimesStory Tools The bottom had fallen out of the economy in the Depression days of 1932, when this sign went up in St. Petersburg. Itinerant workers were not welcome. Editor's note: Seventy-five years ago, at the end of February 1933, just before ...
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 ...
New twist in housing saga - Gainesville SunBargain hunters are driving up sales in cities and states hit hardest by the housing bubble even as prices continue to plummet, while sales are still down in areas like Gainesville that largely escaped the subprime mortgage collapse that is hampering ...
New tack vs default: cutting mortgage principal - Gainesville SunAs home prices slide and loan defaults pile up, some mortgage companies are slashing the amount that borrowers owe, deciding that a permanent cut in the loan balance may pay off if that helps teetering borrowers avoid foreclosure. The small but ...
Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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