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News about Mortgages:
Common Foreclosure Misconceptions - WBNS 10TV ColumbusWithout a doubt, the foreclosure crisis has created a big mess in Ohio. A local expert said it has also painted a portrait of a foreclosure victim that may be inaccurate. By all accounts, Doris-Jean Butner did everything right. She paid twenty ...
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Today's Mortgage Terms starting with E
Equity: The difference between the current market value of a property and the total debt outstanding against the property.
Escrow: A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.
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