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News about Mortgages:
Action taken against lender over foreclosure - Chicago DefenderA Chicago housing non-profit organization and community residents protested Thursday outside Wells Fargo Bank in an effort to help a homeowner facing foreclosure by year-end. Action Now marched outside the financial institution’s branch at 511 W ...
Sunday Calendar - San Gabriel Valley TribuneINTER-COUNTY GARDEN CLUB will hold its Annual Holiday Potluck at 10:30 a.m. at the Joslyn Senior Center, 815 N. Barranca Ave., Covina. Please bring a dish to share. For more information, call (626) 967-1602. COLLECTIBLES CLUB meets at 7 p.m. at the ...
Festival of Trees benefit for Big Brothers Big Sisters - Bothell ReporterThe names alone are enchanting and might provoke the curiosity of even the most unwavering Scrooge. Clair de Lune, Arabian Nights, Hidden Treasures and Fairy Christmas are some of the names given over the years to the gloriously decorated evergreens ...
Berks County Week in Review - Reading EagleA recap of the week’s top news stories including State Representative Doug Reichley criticizes Gov. Rendell for bailing out Boscov’s, Reading City Council approves a property tax hike, UGI announces rate cuts, and security measures are being ...
House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News BlogsABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...
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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