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Report on economy presents grim future - Northern Virginia DailyThe housing bubble in Virginia is continuing to deflate, and it's taking some air out of the state's economy with it. That's the gist of economic data presented to members of the General Assembly's finance committees during their annual retreats last ...
Mortgage firm bucks trend with pledge of 'Integrity' - Northern Virginia DailyWhile other mortgage firms have collapsed under the weight of the sunken housing market and their own questionable lending practices, Integrity has not only survived the downturn; it has grown, recently acquiring Birchenough Mortgage Services of ...
Local bankers say credit fallout is not yet affecting them - Winchester StarWinchester — The financial collapse on Wall Street has tightened the credit market for many financial institutions, but its ripple effect has stopped short of community banks in small-town America — at least for now. Local bankers say they have ...
Cedar Shopping Centers, Inc. Q3 2008 Earnings Call Transcript - Seekingalpha.comGood morning. Welcome to the Cedar Shopping Centers Incorporated third quarter 2008 earnings conference call. (Operator instructions) It's now my pleasure to turn the floor over to your host, Mr. Brad Cowen [ph]. Please go ahead. Thank you, operator ...
Organization riddled with history of internal issues - Northern Virginia DailyNEW MARKET — The New Market Volunteer Fire Company has a checkered history of often having to douse internal flare-ups. Eight years ago, a financial control board was created by the fire department, the New Market Town Council and F&M Bank ...
Bankruptcies /Filings for Oct. 3 to Oct. 10 - Buffalo NewsThe following cases were filed in U. S. Bankruptcy Court in Buffalo, with assets, followed by liabilities. Chapter 7 bankruptcies are for liquidation of assets; Chapter 11 seeks temporary protection from creditors; Chapter 12 is a farm bankruptcy and ...
Rattled Salmond comes out fighting - ScotsmanALEX Salmond led the Nationalist fightback on the economics of independence yesterday, declaring Scotland would not just have survived the credit crisis but could thrive as a small independent country within Europe. The First Minister used his ...
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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