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Homes that prove a shared burden - Guardian UnlimitedShared ownerhsip has been presented as a way to help first-time buyers on to the property ladder, so why are housing associations ditching such schemes in favour of offering properties for rent? Part-buy, part-rent schemes allow you to take out a ...
Two big banks cut mortgage rate - Edmonton SunTORONTO -- Two of Canada's big banks are cutting mortgage rates on a variety of terms, reflecting a drop in borrowing costs in the bond market, where banks finance their mortgage lending. The Royal Bank of Canada said yesterday it is cutting rates ...
Beware of loan sharks, families told - Cornish GuardianSTRUGGLING families are being warned to steer clear of predatory loans sharks charging sky-high interest rates in the run-up to Christmas. Local trading standards officers have teamed up with Citizens' Advice staff to clamp down on illegal money ...
Quiet day on TSX - Ottawa SunThe energy sector was behind 1.2 per cent as the near-month crude oil contract slipped $3.73 to close at US$50.77 per barrel on the New York Mercantile Exchange. The Canadian dollar rose 0.63 cents to 81.63 cents US after surging 2.7 cents Monday. In ...
Banking blues - Ottawa SunAs the worsening economic crisis threatens to leave ordinary Canadian families jobless, if not homeless, let us all shed a tear for the unimaginable suffering of the nation's beloved Big Banks. The Royal Bank of Canada (RBC), for instance, announced ...
U.S. agrees to massive Citigroup rescue - Edmonton SunWASHINGTON — Rushing to rescue Citigroup, the U.S. government agreed to shoulder hundreds of billions of dollars in possible losses at the stricken bank and to plow a fresh US$20 billion into the company. Regulators hope the dramatic action will ...
My brother Simon Cowell - the little kid with the X-tra large ego - Daily MailNo-one knows Mr X Factor better than his brother Tony Cowell. Here he reveals all about Simon's rebellious childhood, his strange obsession with mirrors and why he really dumped his girlfriend. Tony Cowell is the spitting image of his younger brother ...
Lenders offer new tracker mortgages - but no rate cut - Times OnlineThree of Britain’s biggest mortgage lenders have relaunched the first new tracker loans since the exodus from the market last week, but have failed to pass on the 1.5 per cent reduction to the base rate made by the Bank of England last week. Abbey ...
Britain faces crisis as negative equity to reach 2 million - Times OnlineCollapsing house prices are plunging 60,000 homeowners a month into negative equity, which means the country is on course for a worse crisis than the 1990s crash. At current trends, 2m households will enter negative equity by 2010, outstripping the 1 ...
Man in despair over jobs - Cornish GuardianMOUNTING debts, a home that won't sell and no job has left one St Austell man distraught. Ken Pentelow, 45, has been searching for a job since being made redundant in March 2006, applying for at least 20 vacancies a week. He has loans and credit card ...
Today's Mortgage Terms starting with S
Second Mortgage: An additional mortgage that has rights that are secondary to the first mortgage.
Seller’s Market: Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.
Settlement Costs: Money paid by the borrowers and sellers to complete the closing of a mortgage.
Settlement Cost (HUD Guide): HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.
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