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News about Mortgages:
General Growth hires bankruptcy counsel - ReutersSAN DIEGO (Reuters) - General Growth Properties Inc GGP.N, the No. 2 U.S. mall owner, said on Thursday it hired law firm Sidley Austin as bankruptcy counsel as it negotiates with lenders for more time to restructure its $27 billion debt and ...
UBS's Goodman, Top-Ranked Bond Analyst, Joins Amherst (Update1) - BloombergNov. 19 (Bloomberg) -- Laurie Goodman , UBS AG's top-ranked head of fixed-income research who specializes in mortgage bonds, will join Amherst Holdings LLC, the Austin, Texas-based securities firm focused on home-loan assets. Goodman will become ...
Laurie Goodman to Join Amherst Holdings, LLC as Senior Managing ... - EarthtimesAUSTIN, Texas - (Business Wire) Amherst Holdings, LLC, a holding company for businesses focused on the mortgage sector, announced today that leading mortgage strategist Laurie S. Goodman will join as a Senior Managing Director in charge of research ...
More residents worry about mortgage fraud - Killeen Daily HeraldJesus Gutierrez, wearing a patterned two-pocketed work shirt, dirt-marked jeans and a Texas flag cap, sat on the edge of a bed in his living room Thursday. Only an old TV and two small couches were in the room. His grandson's baby swing hung from the ...
Home sales fall 25 percent, but median price rises - Austin American-StatesmanAUSTIN AREA HOME SALES Home sales fall 25 percent, but median price rises By Shonda Novak AMERICAN-STATESMAN STAFF Friday, November 21, 2008 Defying the national trend, the median price of existing homes in Central Texas rose last month by 7 percent ...
CMBS market shows distress as default fears rise - MarketwatchSAN FRANCISCO (MarketWatch) -- Risk premiums on commercial mortgage-backed securities have spiked in the past week, making this corner of the debt market the latest to show signs of mounting distress. Spreads on indexes that track pools of mortgages ...
Deadbeat Trend: Distressed Homeowners Dodge Creditors in Texas - US News and World ReportIf you’re behind on your mortgage and looking to dodge creditors, forget the Cayman Islands--Texas is the place to be. Texas laws are apparently more lenient for debtors looking to shield assets form creditors. “Distressed borrowers can hang on ...
Deadbeat Homeowners Tap Texas Bankruptcy Laws to Duck Creditors - BloombergNov. 18 (Bloomberg) -- Homeowners fleeing underwater mortgages in California and Florida know where to come up for air: Texas. ``Texas is an extremely friendly place to live if you owe money and do not want to pay,'' said Marjorie Britt, a bankruptcy ...
Home prices fall in most U.S. cities, not Houston - Houston ChronicleHome prices fell in four out of every five U.S. cities in the third quarter, a record spurred by distressed foreclosure sales across the country. The median price of a U.S. home fell 9 percent from a year earlier and sales of properties with ...
University at Buffalo plans campus-wide smoking ban - Buffalo NewsThe time is coming when smokers at the University at Buffalo won’t have to step outside and huddle in the cold or wind or snow to light up. That’s because they won’t be able to smoke anywhere on campus — inside or outside. “No way,” said ...
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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