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News about Mortgages:
REAL ESTATE: Second indictment in foreclosure investigation - North County TimesRIVERSIDE ---- A Murrieta resident pleaded not guilty to charges of mortgage fraud late Wednesday afternoon in the second criminal prosecution to stem from a group of 120 foreclosed houses in the area. A federal grand jury indicted Dow Duncan on two ...
Owner, 32, looted East Providence title business - Providence JournalPROVIDENCE — The former owner of a title insurance firm in East Providence pleaded guilty yesterday to a federal fraud charge for looting more than $1.3 million from company accounts and using the money for vacations, hair care, cosmetics and ...
Inland Empire Prepares for 350,000 Foreclosures - PLANetizenLocal and regional governments in Riverside County, California, have assembled a "Red Team" task force to mitigate the impacts of the foreclosure crisis in the fastest growing region in the state. "For example, there were approximately 360,000 homes ...
Local business briefs -- 12/04 - Riverside Press EnterpriseRiverside-based Provident Financial Holdings, parent of Provident Savings Bank, announced Wednesday it will participate in a temporary new federal program aimed at boosting bank confidence by expanding deposit insurance coverage. A news release said ...
Wallick & Volk Expanding in California - EarthtimesCHEYENNE , Wyo., Dec. 3 /PRNewswire/ -- ... "We're strong ... We're Growing ... and we have money to lend!" The current market environment has given us the opportunity to grow our business in locations that are showing signs of stabilization and ...
S.B. County tackles foreclosures - Victorville Daily PressThe San Bernardino County Board of Supervisors Monday launched what officials say is a "bold economic recovery plan" to address area foreclosures and the mortgage meltdown. The Board of Supervisors unanimously approved a plan to contract with the ...
From Bust to Broom: Mortgage crisis a boon for foreclosure cleanup ... - Chicago TribuneFORT EDWARD, N.Y. (AP) _ Several men wordlessly carry out furniture, broken computers and boxes of garbage from a large blue house on a quiet upstate street on a brisk autumn morning. Rusting bikes and an old grill lay discarded in the overgrown ...
John Steele refused help, and now he's gone - Baltimore SunJ ohn A. Steele Sr. was cremated without ceremony. Only his estranged wife and children attended the brief service at the Charles L. Stevens Funeral Home in Locust Point . No words were spoken. No death notice appeared in the paper. No obituary was ...
Commercial Real Estate Office Vacancies Expected in 2009 - Turks.USAccording to a 2009 regional forecast by Grubb & Ellis/BRE Commercial, a real estate broker, lowered demand for office space will give tenants a better choice of properties. Among its findings are San Diego County landlords will benefit from a steady ...
Shots Fired at California Toys R Us; 2 People Reported Dead - FOX NewsRiverside County sheriff's Sgt. Dennis Gutierrez said Palm Desert police got a call saying shots had been fired inside the store. One juvenile is in custody, according to unconfirmed reports. The store is on lockdown, and KTTV in Los Angeles is ...
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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