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City could receive $796,000 in grant for neighborhood aid - Princeton Union Eagle
The city of Princeton could receive up to $796,000 as part of a federal grant of nearly $58 million coming into the state through the Neighborhood Stabilization Program. Princeton is listed along with Big Lake, Buffalo, St. Michael, Elk River, Otsego ...

Mortgage Video Gallery - CNBC
One possible silver lining of the housing crisis is a big drop for mortgage rates. Dan Gilbert, chairman of Quicken Loan... UK Banks Feel Repossession ... UK banks are being lenient on mortgage defaults because repossessions cost the banks an ...

Lower US mortgage rates help but jobs, prices key - Guardian Unlimited
NEW YORK, Dec 3 (Reuters) - The lowest mortgage rates in three years are luring first-time buyers and cost-cutting refinancers, but falling home prices and mounting unemployment will keep U.S. housing in its deepest slump since the Great Depression ...

EDITORIAL: New gimmick won't solve budget crisis - Packet Online
Back during the 1990s, then-Gov. Christie Todd Whitman used an accounting trick to balance the state’s budget while slashing state income taxes. She revalued the state’s pension accounts, saying the booming stock market of the Clinton years meant ...

BullMarket.com Publishes Special High Yield Stock Report; Examines ... - Earthtimes
PRINCETON, N.J. , Dec. 3 /PRNewswire/ -- BullMarket.com ( http://www.bullmarket.com ), an online investment newsletter focused on long-term growth and income-generating stocks, announced today that it has published a special report on high-yield ...

When you have to choose between dinner and electricity - Daily Princetonian
The contrast was striking: While outside Frist Campus Center, the band's upbeat cadence brightened the atmosphere as students went about their usual Saturday routines and headed to tailgates before the Princeton-Dartmouth football game, a solemn ...

Parents fight cancer for ‘Angel Emma’ - Bluefield Daily Telegraph
PRINCETON — Emma Ruth Vannatter’s family believes she was born to be an angel. Just weeks after complications from leukemia took the little girl’s life, her mom finds comfort knowing that her “Angel Emma” doesn’t hurt any more. After ...

U.K. house prices fall at fastest rate in 16 years - 680 News
LONDON - House prices in Britain fell at their fastest rate in 16 years during November, the country's biggest mortgage lender said Thursday, reinforcing market expectations that the Bank of England will later cut interest rates by at least another ...

Shopping Season for Uncle Sam - Barron's Online
THE GOVERNMENT'S LATEST INTERVENTION IN financial markets -- the $800 billion plan unveiled last week to boost lending to consumers and trim mortgage rates -- hasn't been much more successful than its earlier efforts. While rates on home mortgages ...

RealMoney.com: Market Commentary - Street.Com
The market celebrated Thanksgiving with the best weekly advance in 34 years. The 12% gain was the most since 1974. The S&P 500 is now up 19% from its recent low, although still off 43% from its high reached in October 2007. All it took was for the ...

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Today's Mortgage Terms starting with F

  • Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
  • Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
  • Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
  • FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
  • First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
  • Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
  • Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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