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Denny Hecker closes 6 car lots, sells 3; GM sues - Minneapolis Star TribuneSix of flamboyant Twin Cities auto dealer Denny Hecker's dealerships have closed and three others have been sold. In a news release late Friday, Hecker said the shutdown of the Blaine Bargain Lot, Forest Lake Chrysler Jeep Dodge Mitsubishi ...
Deadbeat Trend: Distressed Homeowners Dodge Creditors in Texas - US News and World ReportIf you’re behind on your mortgage and looking to dodge creditors, forget the Cayman Islands--Texas is the place to be. Texas laws are apparently more lenient for debtors looking to shield assets form creditors. “Distressed borrowers can hang on ...
How David Dodge would fix the financial system - Globe and MailThe overzealous enforcement of inappropriate accounting rules on financial institutions has helped amplify market gyrations in the past eight years and should be stopped, former Bank of Canada governor David Dodge contends. The so-called “mark-to ...
Parents dodge day care to save money - Naperville SunAdrienne Gilla's workday isn't exactly traditional. The North Aurora mom often takes business calls with a squirming toddler on her hip. » Click to enlarge image Adrienne Gilla stops working for a moment to check on her tired daughter Reese, 17 ...
Where’s love for Detroit? - VindicatorAfter living in Michigan most of my life, I never knew Detroit was a dirty word. I’ve always driven a Chrysler. I grew up in a house in Warren that is blocks away from a Dodge truck plant and a General Motors powertrain plant. Sometimes when I ...
Video: Dodge EV Smokes a Hemi, Sort Of - WiredChrysler is bringing its three electric-car prototypes to the Los Angeles Auto Show, and in a desperate bid to get some publicity before the shindig it staged an impromptu "drag race" between the Dodge EV and a Challenger SRT8 hemi. The smallest of ...
Text of Dodge's lecture - Globe and MailI want to begin by thanking the C.D. Howe Institute for the opportunity to deliver the 2008 Benefactors Lecture. It is a privilege I especially value as the Institute has contributed much to the debates about monetary policy in Canada. My former ...
Deadbeat Homeowners Tap Texas Bankruptcy Laws to Duck Creditors - BloombergNov. 18 (Bloomberg) -- Homeowners fleeing underwater mortgages in California and Florida know where to come up for air: Texas. ``Texas is an extremely friendly place to live if you owe money and do not want to pay,'' said Marjorie Britt, a bankruptcy ...
Identity Theft Victim Sues 3 Stores - Wbaltv.comELLICOTT CITY, Md. -- A Howard County man is suing three companies, claiming they didn't protect his identity from being stolen. Police said Lavon Caldwell and members of his theft ring stole the identities of at least 15 people and used them to buy ...
With economy sputtering, frugal is in - Lowell SunMany in their 80s remember a hand-to-mouth existence during the Great Depression. Many in college realize theirs will perhaps become the first generation of Americans less well-off economically than their parents. Those generations in between ...
Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
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