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Erie County Real Estate Transactions - Buffalo News• 63 Fairlawn Drive, Edmund Karnofsky to Squire Shop Inc., $348,700. • 92 South Rockingham Way, GMAC Mortgage Llc to John F. Marcolini; Angela J. Marcolini, $340,000. • 248 Running Brook Lane, Drew A. Gundlach; Sandra L. Gundlach to Robert M ...
Losing it all: Subprime loan mess slamming doors on homebuyers in ... - Lynchburg News and AdvanceYou wouldn’t expect a $1 million home on Easy Street on Smith Mountain Lake to end up in the same situation as a $20,000 house from inner-city Lynchburg. One was built as a lakeside mini-mansion in 2006. It has 5,200 square feet, granite ...
It’s tougher to find a good deal at foreclosure auctions - Lynchburg News and AdvanceThe first time Penny Sipple went to a foreclosure auction, she wasn’t looking for a house. She was just curious. Then she watched a house sell for $20,000 at auction, about half its original mortgage. “That was enough to get me hooked,” she ...
Coastal Federal Credit Union Welcomes New Vice Presidents - Carolina NewswireRALEIGH, N.C. – Coastal Federal Credit Union announced the appointments of two new vice presidents. Richard Mullen has joined the organization as VP, Mortgage Solutions and Jim Pack has been hired as VP, Retail Sales and Service. Mullen will be ...
Wisconsin/Illinois briefs - Dubuque Telegraph HeraldMADISON, Wis. -- The Wisconsin Department of Justice has opened a perjury investigation into an expert witness who lied about his credentials in a high-profile homicide case, a spokesman said Wednesday. Spokesman Kevin St. John confirmed that the ...
Our economy: The good, the bad and the ugly - Daily ProgressAs the nation struggles through a severe economic downturn, the state of the Charlottesville area’s economy is a bit of a mixed bag. While the region has bounced back quickly from past recessions, this downturn appears likely to cut deeper and last ...
Goode, Perriello clash days before election - Daily ProgressDANVILLE — With one week remaining before voters head to the polls, U.S. Rep. Virgil H. Goode Jr., R-Rocky Mount, and Democratic challenger Tom Perriello clashed Tuesday night in the third and final debate of a fiercely contested campaign. Goode, a ...
Register for FREE - Wall Street JournalThe email address you have entered is already in use. Please re-enter the email address. Former Federal Reserve Chairman Alan Greenspan said he “made a mistake” in believing banks and others would protect their shareholders and own firms ...
Hollani's Blog - WDBJ7.comYou know, Thanksgiving is just a few days away and this year a lot of us - I'm talking about those of us who still have a job - have so much to be thankful for. I can't tell you how many people I've heard say "UGH - my job" and then in the next ...
Citing Space Constraints, Obama Campaign Kicks Off the Plane Reporters ... - ABC News BlogsThe Obama campaign has told three reporters they have to drop off the campaign plane this weekend. All three work for papers that endorsed Sen. John McCain, R-Ariz.: the New York Post, the Washington Times, and the Dallas Morning News. "Unfortunately ...
Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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