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The World Newser - ABC News BlogsWith a whirlwind set of press conferences, supposed deals, nixed deals and frustration over whether to bail out the auto industry with $25 billion in low-interest loans or take the chance of letting it go bust, the Congress's lame duck session keeps ...
As U.S. banks retreat, credit unions step up loans - Boston GlobeNOVI, Michigan (Reuters) - Some U.S. consumers hit hard by the credit and foreclosure crisis are finding that down-sizing their lender is paying dividends. Thanks to his local credit union, for example, former automotive engineer Jim Greenshields is ...
Geocachers find, leave buried treasure - Las Vegas SunBefore you think geocachers are totally uncool — and you can get that impression from their love of gadgets and swag boxes full of toy cars and Mardi Gras beads — get a look at Lynn Storton's tricked-out Jeep Wrangler. It has 35-inch wheels and ...
When the wheels fell off - Brisbane TimesMidway through what is remembered as the American Century the health of General Motors could be equated to the well being of America itself. It was not so much a slogan as a state of mind when the company's president declared with a straight face ...
No to Detroit - Daily PressWhat's good for General Motors is not, in fact, necessarily good for America. The assertion that their interests are one in the same, uttered 55 years ago by a company executive, reflected a time when U.S. automakers' dominance was in its heyday ...
Taxes will never disappear, but you can ease the sting - Boston GlobeEven in hard times, taxes are, borrowing from Ben Franklin, as certain as death. But there are tax provisions that can ease the sting of an economic downturn. NOW YOU QUALIFY It's bittersweet, but Bob Scharin, a senior analyst at the tax and ...
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. There shouldn’t be. General Motors is reportedly asking for $10 billion in taxpayer money to grease a merger with Chrysler. That is on top of ...
Auto bailout talks begin - and industry 'haters' will get national ... - Ann Arbor News BlogPaula Gardner is editor of Michigan Business Review in Ann Arbor, Oakland and Tri-Cities. This will be an interesting day for those of us in Michigan. Other adjectives that we use by the time the sun sets could be "scary," "insulting," even ...
Democratic leaders say they'll delay auto bailout plan, for now - Cleveland Plain Dealer BlogGerald Herbert/Associated Press Democratic Sen. Carl Levin of Michigan, center, listens to a question during a news conference Thursday about the auto industry bailout. With him, from left, are Sens. Arlen Specter, Republican of Pennsylvania ...
Site Presented By - SalonIf you have the stomach for 10 minutes of schadenfreude, you might enjoy watching a series of clips edited together featuring Peter Schiff, president of Euro Pacific Capital, arguing about the economy with a bunch of arrogant and ignorant talking ...
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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