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News about Mortgages:
Once obscure, Hank Paulson now nearly a household name - ScrippsNewsWASHINGTON -- Before the stock market tanked, before prominent banks collapsed, before home foreclosures and shrinking 401(k) plans became a national obsession, most Americans would have been hard-pressed to name the man responsible for leading the ...
Annoying calls from phone solicitor are costing him - UnionA man from the 400 block of Marshall Street called Grass Valley Police Department at 2:06 p.m. Wednesday to report getting continued phone calls from a mortgage insurance company, which was costing him cell phone minutes. He said he has asked to be ...
Activists join for prayers in D.C. - Modesto BeeWASHINGTON -- Prayers and politics combined Tuesday as Fresno minister Bill Knezovich joined 170 activists pleading for help with the foreclosure crisis that's struck the San Joaquin Valley. Treasury Secretary Henry Paulson was absent and heaven's ...
Paralegal enters not guilty plea in felony fraud case - UnionKathleen Ann Gilio, a 55-year-old paralegal has entered a not guilty plea to four felony counts of preparing false documentary evidence when she notarized signatures for attorney Thomas Hastert. Hastert is under investigation for real estate fraud ...
Clean up foreclosed home, or city will - Las Vegas SunAs a growing number of cities across the country are aggressively forcing owners of foreclosed and abandoned properties to clean them up, Las Vegas is going after them with the help of a three-year-old ordinance that, until recently, wasn’t much ...
Berks County Week in Review - Reading EagleA recap of the week’s top news stories including details of the 2009 Berks County budget, an update on a proposed rail line from Wyomissing to Philadelphia, Boscov's receives financial aid from the federal government, and a new veterans memorial is ...
'You fear death, mister journalist. Why?' - Guardian UnlimitedA few weeks before my father died, he gave me a photograph of him as a young man on his skis in an Austrian resort, framed by a bank of spring snow. After his death, I kept this picture by my bed, as I believe he intended. He had already made plans ...
School for the blind starts visionary newsroom - Newark Star-LedgerEd Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...
August 31 - September 7 (99) - Dakota Voice► January 16 - January 23 (1) She quietly inhaled the gas mixture the doctor gave her to relax. Suddenly, there was incredible pain. She jerked her legs up and cried. The doctor yelled at her and told her not to move. If she moved, she would bleed ...
Why the economic house of cards fell - East Valley TribuneIn a more fair world, Franklin Raines and Jim Johnson would be doing a perp walk. After all, the CEOs of Fannie Mae and Freddie Mac committed the same white-collar crimes that brought down Enron and WorldCom, among others. They cooked their books to ...
Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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