Bala Cynwyd Mortgage Rates and Information Online from competing Lenders
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News about Mortgages:
Letters: Campaign '08 - Philadelphia InquirerSusan Furey Bala Cynwyd Since 9/11 we should have been a country on a solid road to unity, but instead we have been on a rocky road to nowhere because of a Republican president who has divided the country between haves and have-nots, and who has ...
Is Palin's $150,000 makeover too much? - Philadelphia InquirerIn this designer-look-for-less day and age, vice presidential candidate Sarah Palin's $150,000 wardrobe seems to wear the label of excess. In addition to nicking her image of a hockey mom feeling Joe the Plumber's pain. But truth is, the bespectacled ...
People on the Move - Philadelphia Business JournalThe First National Bank and Trust Co. of Newtown promoted Emma Shafer to the position of branch manager at the Yardley Road office. Shafer was previously assistant branch manager at the office. The Lincoln Mortgage Co. of Conshohocken announced that ...
Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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