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Habitat to re-dedicate Maine home - Sun and PressBroome County Habitat for Humanity will re-dedicate a home for a family of four at 11 a.m. Saturday in the Town of Maine. With the help of volunteers, Habitat built the house at 70 Tiona Road in 1998. The original family raised their children and has ...
Obama: “I Love Rich People” - Wall Street JournalFor most of his campaign, Sen. Obama has decried the rich getting rich and the middle and poor losing ground. Last week in less-affluent Orlando, Fla., he argued that the Bush tax cuts (which would be continued by Sen. John McCain) “give more and ...
Today's Mortgage Terms starting with D
Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
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