Herrick Center Mortgage Rates and Information Online from competing Lenders

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Two jobs gone; money running out - Seattle Times
Solid Ground : Call 206-694-6700 for assistance. Housing counselors are so swamped that they may not be able to help right away, but ask for a mortgage-assistance packet. Department of Financial Institutions : The department Web site, www.dfi.wa.gov ...

Macklowe May Lose $500 Million Site on Park Avenue (Update1) - Bloomberg
Sept. 11 (Bloomberg) -- New York developer Harry Macklowe may lose a building site on Manhattan's Park Avenue about a third the size of a city block after he defaulted on a $513 million loan and Deutsche Bank AG asked a court to force a sale of the ...

Deeper discounts may not boost Black Friday - Sun-Journal
TORONTO (AP) - Toronto-Dominion Bank, the parent company of Maine-based TD Banknorth, says it will report $272 million in after-tax credit trading losses in its fourth quarter. Baldacci in Canada for trade mission AUGUSTA (AP) - Gov. John Baldacci is ...

Blanchardville: Nana Schowalter and Bob Bergman - Milwaukee Journal Sentinel
Nana Schowalter's "Sun Dancer" soaks up the sun among the flowers at the sculptor's Blanchardville home, which is surrounded by gardens. Joe Koshollek For Nana Schowalter and Bob Bergman, the kitchen is the center of the home they share with their ...

Consumer spending fears sink stock prices further - Sun-Journal
NEW YORK (AP) - Wall Street got another dose of painful reality Tuesday and sent stocks diving as investors recognized that few industries are safe from the consumer spending slump - whether they're building homes, making cars or selling coffee. The ...

Indian teen thrown under train for writing love letter - USA Today Blogs
A 15-year-old boy was beaten, mocked and then thrown in front of a moving train Tuesday in eastern Bihar state, according to The Times of India . His crime? Falling in love with a girl from a different caste. "Fifteen-year-old Manish Kumar was ...

Register for FREE - Wall Street Journal
The email address you have entered is already in use. Please re-enter the email address. Barack Obama ’s campaign did not like it when rival John McCain referred to the Illinois senator as “that one” during tonight’s presidential debate ...

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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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