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Week In Review: Economy's Bad; So Are Cigarettes - Hartford Courant
The state's economy took another dive this week when the Department of Labor reported that 3,600 jobs disappeared off the books in October; estimates of the growing state deficit ballooned; and stocks in that Hartford stalwart, the insurance business ...

Hope for homeowners as rates fall below 5 per cent - Guardian Unlimited
Homeowners looking to remortgage could soon benefit from some of the lowest fixed-rate deals in almost a year after the Bank of England base rate cut. Immediately after the 1.5 per cent reduction two weeks ago, 849 mortgage products were withdrawn ...

How banks' so-called hotshots cleaned up - Independent
Share THE key executives running Ireland 's imploding banks have been paid close to €100m in salary, bonuses, options and special conditional share awards since they took office in the past four years. The near collapse of the Irish banking systems ...

Mortgage debt forces thousands to sell up - Times Online
More than one in five homes on the market are there because their owners cannot afford the mortgage repayments, The Times has learnt. A survey of estate agents suggests that at least 5,000 properties a week are being put up for sale by “forced ...

Business people - Anchorage Daily News
Summit Mortgage recently hired Colin Krieger as a mortgage loan officer. He has worked in the loan mortgage industry since 2003. He is a member of the National Mortgage Bankers Association, Anchorage Home Builders Association and Armed Services YMCA ...

Tax preparer guilty of fraud - Burlington County Times
BRISTOL - As a self-taught tax preparer for some of Lower Bucks County's Liberian immigrants, Bristol's Aneza Abalo falsified her clients' tax forms with deductions for children that didn't exist, fake education expenses and charitable contributions ...

Gordon Brown to cut Vat as winter recession bites - Times Online
Cuts in Vat are to form a key plank of Gordon Brown’s emergency economic rescue package to be unveiled tomorrow. The temporary reduction in sales tax, currently at 17.5%, will be one of a range of measures designed to stimulate consumer spending ...

On The Move - Elkhart Truth
Average Rating: This item has not been rated yet. ELKHART -- Pedcor Management has announced personnel changes to Ashton Pines Apartment Community. Chantell Bailey has been appointed leasing representative. She has more than 15 years experience in ...

Budget airline 'jeopardized windpipe transplant' - CNN
The delay jeopardized the success of the delicate operation, British media said. The stem cells had been grown in a laboratory in Bristol, western England, but had to be flown to Barcelona ahead of the world-first operation last June. With a 16-hour ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. It is amazing what a trust fund can do. Two weeks ago, Wachovia couldn’t get arrested. It was scorned by analysts, a pain to investors and ...

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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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