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News about Mortgages:
Pa. AG: Officials in ailing borough misused money - ForbesA former borough manager, borough secretary, council president and another official were charged Thursday with stealing money and equipment from their cash-strapped Pennsylvania municipality. The financial situation in Rochester, 25 miles northwest ...
Brown given November deadline to save his job - The IndependentPrime Minister Gordon Brown is seeking a plan for his fightback Cabinet ministers will give Gordon Brown "one last chance" to save his premiership but will try to oust him by November if he fails to improve Labour's prospects. Senior ministers ...
Ex-Rochester Council President, Manager, Secretary Accused Of Theft - Pittsburgh ChannelROCHESTER, Pa. -- A former borough manager, borough secretary, council president and another official were charged Thursday with stealing money and equipment from their cash-strapped Beaver County municipality. The financial situation in Rochester ...
Rally ends; Dow falls 283 - Baltimore SunNEW YORK - Wall Street abruptly ended an earnings-driven rally and closed sharply lower yesterday after a steeper-than-expected decline in existing-home sales and worries about the financial sector chilled the market's recent optimism. The major ...
Grant will expand housing ownership opportunities for Native Americans - Daily TribuneThe Otto Bremer Foundation of St. Paul, Minn., has awarded a $37,215 grant to Ho-Chunk Housing and Community Development Agency, affordable housing provider to Ho-Chunk Nation members and other Native Americans in 16 Wisconsin and Minnesota counties ...
Detert narrowly beats Grant in GOP primary for state seat - Herald TribuneLongtime Venice politician Nancy Detert overcame a significant fundraising disadvantage to narrowly win the Republican primary for the District 23 Senate seat Tuesday. Alisan Belsan, left, shows Nancy Detert T-shirts she made into signs during Detert ...
Detert edges Grant in state Senate primary - Herald TribuneLongtime Venice politician Nancy Detert overcame a significant fundraising disadvantage to narrowly win the Republican primary for the District 23 Senate seat Tuesday. Detert’s name recognition and deep connections in Sarasota County lifted her ...
Paradise Valley homes sells for $4.4M - AZCentral.comAn advertising executive, a radio-station executive, a president of a finance company in Scottsdale, the owner of a Phoenix property-investment firm and a Phoenix building executive are among the buyers and sellers in this week's priciest home sales ...
4 Rochester officials charged with theft from borough - Pittsburgh Post-GazetteAttorney General Tom Corbett today announced theft charges against four current or former public officials in Rochester Borough, Beaver County. Mr. Corbett identified the defendants as Edward Piroli, the former borough manager; Lois Sutter, the ...
Let's Chat Today - Washington PostJoin me today at noon for a live online discussion about mortgages. The current housing market has sidelined many would-be buyers, who are worried they'll buy before the market hits bottom. Meanwhile, mortgages rates are rising and qualifying for a ...

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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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