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News about Mortgages:
Florida pushing tough law to combat mortgage fraud - Modesto Beehttp://www.herald.com/ After months of stinging criticism for letting crooks and con artists prey on Florida borrowers, regulators have proposed sweeping changes in state law that would make Florida one of the most tightly regulated mortgage markets ...
How to stay one step ahead of scam artists in a sinking economy - PantagraphCHICAGO -- The economy is tough, and there are crooks out there looking to make things a whole lot tougher. The number of financial scams circulating is on the rise, some experts say, as criminals seize every opportunity to take advantage of the ...
Rogue home lenders difficult to keep out - Rockford Register-StarFirst come the shady operators, then comes the collapse, then comes the bailout, then come the shady operators. That, too often, is the sad history of financial meltdowns and their cleanups. The closing days of the Bush administration offer the ...
Workplace Coach: The lessons learned from 2008 - Seattle Post IntelligencerLAST YEAR WAS a banner year for lousy business headlines. Wall Street's demise, a tanked economy in recession, plummeting 401(k)s, massive layoffs, government bailouts, and crooks who swindle charities out of business. As a workplace coach, I am ...
The Top 10 Reasons Why Bush is a Crook. - OpEdNews.com"No-one could have seen the collapse coming," says Bush, and a servile media has carried the lie. Bush presides over a criminal corporate class and does their bidding and this is why the current US financial collapse has occurred. There has been a ...
The biggest CEO firings of 2008 - MSNBCThe bloodletting in the c-suite started in 2007. It still hasn't stopped. Another year goes by and more chief executives get the ax — probably more than in any previous year. People shook their heads when Charles Prince III at Citigroup and Stanley ...
Unexpected charges create ID theft fears - San Francisco ExaminerAs many as nine million Americans have their identities stolen each year. With that much criminal activity, there’s plenty to worry about and obvious reasons to protect your personal information. But don't let a very real threat produce needless ...
New jobless claims drop unexpectedly - NewsweekRecommended (6) Stocks Plummet After Retail, Unemployment Data The Economy Sucks. But Is It ’92 Redux? Hurts So Good;At Work: What Full Employment Is Li Unemployment: The Bad News About Your Job The Economy's a Wreck, But We Can Fix It The Bailout ...
FBI, other agencies offer useful Web site to avoid scams - Evening StarThis is a good news column with lots of useful information courtesy of the FBI and the U.S. Postal Inspection Service, along with their partners, the National White Collar Crime Center, Monster.com , Target and members of the Merchants Risk Council ...
N.J. housing market slide provides opportunity for first-time buyers - Newark Star-LedgerIn a wooded neighborhood of Raritan Township, Sarah Nojiri walks through an empty colonial with a dining room big enough to fit the large furniture her grandmother gave her. She can't wait to hold family dinner parties inside her first home, and she ...
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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