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Obama Names Richardson as Choice for Commerce Secretary - Washington PostPresident-elect Barack Obama has nominated Gov. Bill Richardon for Secretary of Commerce. Richardson is currently the governor of New Mexico. CHICAGO, Dec. 3 -- President-elect Barack Obama announced his choice Wednesday of New Mexico Gov. Bill ...
New – Blair sets up credit card court - Tribune-DemocratHOLLIDAYSBURG — Judges in a central Pennsylvania county have established a special court to deal with credit card default cases. The system just begun in Blair County is informally called Credit Card Court. Judges attempt to settle civil lawsuits ...
Blair forms new Credit Card Court - Altoona MirrorHOLLIDAYSBURG - Local residents are defaulting on their credit card payments and mortgages at a record rate, leading Blair County judges to form what has loosely been referred to as a Credit Card Court. The purpose of the new system, which went into ...
Blair County has special court for credit card defaults - Pittsburgh Post-GazetteHOLLIDAYSBURG, Pa. -- Judges in Blair County have established a special court to deal with credit card default cases. The system just begun is informally called Credit Card Court. Judges attempt to settle civil lawsuits with conciliation conferences ...
Corbyn most rebellious Labour MP (again) - Politics.co.ukJeremy Corbyn is Labour's most rebellious MP, according to new academic research. It is not the first time the renegade left-winger has run up more rebellions than anyone else in the party. This year he voted against the whip 57 times. Last year he ...
World headlines today - The TimesHomeowners will be able to defer payments on their mortgage for up to two years if they lose their jobs, under plans to cut repossessions announced by British Prime Minister Gordon Brown. Financial Times: Western banks face snub by China fund China ...
Bonus for borrowers - StuffHome loan interest rates are being slashed to their lowest levels in four years, giving some borrowers a boost worth thousands a year, but savers are facing a hefty cut on deposit rates. In a record-breaking move, Reserve Bank governor Alan Bollard ...
Brown moves to slow repossessions with Queen's speech mortgage help - Guardian UnlimitedGordon Brown today announced plans to help borrowers who are struggling to keep up with their mortgage repayments stay in their homes. The move, announced this afternoon by the prime minister in a debate on the Queen's speech , is designed to slow ...
New Labour 1994-2008 - Times OnlineIt was a brief shining moment. For a little more than a decade Britain's centre left party turned its back on past economic folly. It had realised that it could offer voters a potent combination. It become not just the party of social justice, but ...
Brown helps crunch victims keep homes - ScotsmanVICTIMS of the economic downturn can have their mortgage interest payments delayed for up to two years under a government scheme to avoid homes being repossessed, Gordon Brown announced yesterday. The scheme is due to start early next year and will ...
Today's Mortgage Terms starting with L
Lender: The bank, mortgage company or mortgage broker providing the loan.
Loan Application: A statement of personal and financial information needed to apply for a loan.
Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
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