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News about Mortgages:
Madigan suing a Plainfield company - Herald NewsCHICAGO -- A Plainfield company is among seven "so-called mortgage 'rescue' companies" that were sued Monday by Illinois Attorney General Lisa Madigan. Madigan said the companies were scamming vulnerable homeowners who are on the verge of foreclosure ...
Madigan sues 7 companies over mortgage schemes - St. Louis Business JournalIllinois Attorney General Lisa Madigan sued seven so-called mortgage “rescue” companies late Monday and warned consumers about an alarming rise in these scams that prey on vulnerable homeowners on the verge of foreclosure. Con artists targeted ...
Disclosure of Vick's finances reveals excess - Observer-ReporterRICHMOND, Va. - Michael Vick was once the NFL's highest-paid player, and he spent like it. One of his friends tools around in a $31,000 Cadillac DTS. His former personal assistant steers a $45,000 Infiniti M45 and has a pair of power boats. His ...
TowneBank Announces Quarterly Cash Dividend - MSN MoneyCentralThe amount and declaration of future cash dividends are subject to Board of Director's approval in addition to regulatory restrictions. G. Robert Aston, Jr., Chairman & Chief Executive Officer said, "We are pleased to declare our eighth consecutive ...
Morning Briefing - Batavia SunSchool bus drivers with First Student in Naperville voted 258-74 to join the Teamsters, according to a press release. The bargaining unit consists of 417 workers. The Naperville workers are the latest group of First Student drivers in Illinois to ...
The Store Celebrates 30 Years - Post-JournalCELORON For 30 years, one business has been located at 53 Dunham Ave. in Celoron. One business with a simple, easy-to-remember name - ''The Store.'' For area residents the shop's owner Caresse Bush has been known for restoring antique trunks, vintage ...
Our economy: The good, the bad and the ugly - Daily ProgressAs the nation struggles through a severe economic downturn, the state of the Charlottesville area’s economy is a bit of a mixed bag. While the region has bounced back quickly from past recessions, this downturn appears likely to cut deeper and last ...
Vick is swimming in debt - The Washington TimesOne of his friends tools around in a $31,000 Cadillac DTS. His former personal assistant steers a $45,000 Infiniti M45 and has a pair of powerboats. His brother Marcus has a $62,000 Land Rover and his sister a Yukon Denali. But Vick himself is busted ...
Vick's wild spending has him in financial abyss - Austin American-StatesmanOne of his friends tools around in a $31,000 Cadillac DTS. His former personal assistant steers a $45,000 Infiniti M45 and has a pair of power boats. His brother Marcus has a $62,000 Land Rover and his sister a Yukon Denali. But Vick himself is ...
Bankruptcy records detail Vick's lavish spending - CBS SportslineRICHMOND, Va. (AP) - Michael Vick was once the NFL's highest-paid player, and he spent like it. One of his friends tools around in a $31,000 Cadillac DTS. His former personal assistant steers a $45,000 Infiniti M45 and has a pair of power boats. 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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