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News about Mortgages:
As economy falters, many trying to convert possessions into cash - Boston GlobeWASHINGTON - Patricia Ohlemiller packed up her telescope recently and headed to the Gaithersburg, Md., drop-off center for iSold It eBay . She hoped to recoup $150, minus commission, of its original $350 value. Planning to retire next year and ...
'The economy just fell apart and people really need cash' - Chicago Sun-TimesRandy Cohen, co-owner of a South Loop pawn shop, has never seen anything like the current parade of cash-strapped customers forced to sell their stuff. ''Anything people can possibly get ahold of to bring in to pay their mortgage and get gas in the ...
House rejects Wall Street bailout. Did it do right? - Orange County RegisterWASHINGTON – In a nail-biter vote, the House of Representatives today shocked Capitol Hill and Wall Street and voted down the bipartisan $700 billion financial bailout by a vote of 228-205. Orange County's lawmakers split their decision: Reps. John ...
RMG Capital Corporation Reports Third Quarter Earnings - Market WireFULLERTON, CA--(Marketwire - November 21, 2008) - RMG Capital Corporation ( OTCBB : RMGC ), the holding company for Fullerton Community Bank, F.S.B. in Fullerton, California, announced results for the third quarter of 2008. RMG Capital Corporation ...
Foreclosures blanket O.C. - Orange County RegisterDespite a return of buyer demand to the housing market, banks seized three times as many homes from delinquent borrowers in the third quarter than they did for the same period a year earlier. Banks foreclosed on 3,997 houses and condos, which was ...
Capital letters - Guardian UnlimitedI had a Portman mortgage which came under Nationwide's control after the merger. In March 2008, I reduced the loan with a payment of £170,000 on the basis that I could draw it back later if necessary. I also carried on making monthly payments at the ...
Will Vrdolyak ties hurt developer? - Chicago Sun-TimesChicago developer Bill Smith has had as much of an impact on State Street as anybody since Marshall Field and Potter Palmer. His hard-driving deal-making combined with a preference for good architecture made him a favorite for City Hall- brokered ...
Taking stock of the economy via eBay - PhysOrgHe owns an iSold It franchise in Fullerton, Calif., that sells on eBay auction Web site items brought in by individuals and businesses. Recent economic turmoil seems to have motivated a lot of people to clean out the garage or company store room ...
Good housekeeping is a gamble that may win - Times OnlineA helpful rule of thumb for assessing the fanfare that habitually precedes a Gordon Brown initiative, is that there will be less to it than meets the eye. Under scrutiny, these things tend to come apart in our hands, shot through with failures of ...
Pawn shops doing brisk business - Morris County Daily RecordAnything people can possibly get ahold of to bring in to pay their mortgage and get gas in the car, they're doing it," he says. "I actually have lines when I open at 9. The economy just fell apart, and people really need cash." Want a 30-foot boat ...
Today's Mortgage Terms starting with L
Lender: The bank, mortgage company or mortgage broker providing the loan.
Loan Application: A statement of personal and financial information needed to apply for a loan.
Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
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