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Fed makes emergency move to lend directly to companies; Bernanke hints ... - Chicago TribuneWASHINGTON (AP) _ Frantically trying to stop the bleeding on Wall Street, the Federal Reserve took a first-time step Tuesday to get cash directly to businesses and hinted that interest rates could come down soon. Stocks continued their free fall ...
Wells Fargo and Citigroup to share Wachovia - Times OnlineWells Fargo and Citigroup are to carve up Wachovia between them. It is believed that Wells Fargo will grab up to 80 per cent of Wachovia's deposits with Citigroup taking the rest. Wells Fargo is also thought to be keen to seize Wachovia's branches ...
Insurance giant AIG's role in market crisis probed - MSNBCWASHINGTON - Executives at the American International Group Inc. hid from its auditors the full range of risky practices at its financial products division even as losses mounted, according to documents obtained by a congressional panel examining ...
So, where do they get the money? - Globe and MailOTTAWA — Central banks around the world have pumped hundreds of billions of dollars into gummed-up credit markets over the past two weeks. On Tuesday alone, the U.S. Federal Reserve Board said it would find the financing to actually buy up ...
Unregulated swaps hastened Wall Street collapse - MSN MoneyCentralWASHINGTON (AP) - It can be a fine line between investing and gambling. But in Las Vegas, you know the odds. On Wall Street, that's not always the case. Especially when it comes to the $62 trillion market in arcane financial contracts known as ...
Fingerpointing about the economic crisis - Seattle Post IntelligencerBecause there is STILL finger pointing about this economic crisis, educate yourselves. From factcheck.org ...So who is to blame? There's plenty of blame to go around, and it doesn't fasten only on one party or even mainly on what Washington did or ...
Editorial: A key investment in mental health care - Minneapolis Star TribuneWhen the mental health parity law passed last Friday, 23-year-old Marley Prunty-Lara, who has bipolar disorder and watched her parents take out a second mortgage to pay for her medical treatment, did a little dance of victory around her Minneapolis ...
Budget deficit hits record $438 billion, CBO says - Boston GlobeWASHINGTON— The Federal budget deficit is ballooning under the latest estimates from the Congressional Budget Office. The deficit hit a record $438 billion for the budget year that ended last week, up from the $162 billion worth of red ink posted ...
Congress scolds former AIG executives over crisis - Kansas City StarRep. Dennis Kucinich, D-Ohio, holds up the Wall Street Journal as he questions former CEO's of AIG Robert Willumstad and Martin Sullivan before the House Oversight and Government Reform Committee on Capitol Hill in Washington, Tuesday, Oct. 7, 2008 ...
Fannie Mae, Freddie Mac wielded big clout in Washington - Christian Science MonitorReporter Gail Russell Chaddock talks about the enormous political clout that Fannie Mae and Freddie Mac wielded in Washington. Washington - Mortgage giants Fannie Mae and Freddie Mac didn't just dominate the nation's $12 trillion home loan market ...

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Today's Mortgage Terms starting with S
Second Mortgage: An additional mortgage that has rights that are secondary to the first mortgage.
Seller’s Market: Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.
Settlement Costs: Money paid by the borrowers and sellers to complete the closing of a mortgage.
Settlement Cost (HUD Guide): HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.
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