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News about Mortgages:
Treasury briefs candidates on plan to seize Fannie, Freddie - Miami HeraldWASHINGTON -- The widening housing crisis took center stage on the presidential campaign trail Saturday after the Treasury Department confirmed to the candidates it was preparing a historic seizure of mortgage finance giants Fannie Mae and Freddie ...
Mortgages arrears show sharp rise - Financial TimesArrears and repossessions among prime mortgage borrowers jumped sharply in the second quarter, according to a report by Moody's which suggests that home loans are deteriorating even among borrowers with good credit records. Mortgages held by Granite ...
Candidates' Plans For Struggling Homeowners - ForbesIt's possible that once pundits tire of discussing Sarah Palin's penchant for moose hunting or Joe Biden's working class roots, Americans will again turn their attention to the housing crisis. After all, the fortunes of many homeowners haven't ...
Newspaper round-up - Reuters UKThe Prime Minister has admitted that his plans to force Britain's energy firms to fund a one billion pound cash rebate for poor families have failed. Speaking to a Scottish business audience, Gordon Brown said that his fuel-poverty bill would instead ...
Bleak jobs data keep economy at center stage - MSNBCA sharp and surprising jump in the unemployment rate reported Friday makes it likely the economy will remain front and center in a hotly contested presidential campaign just entering its final stage. The unemployment rate in August jumped to 6.1 ...
Paulson to Take Over and Restructure Fannie, Freddie (Update4) - BloombergSept. 6 (Bloomberg) -- Treasury Secretary Henry Paulson will use his authority to rescue Fannie Mae and Freddie Mac , likely placing the beleaguered mortgage-finance companies under government control as early as this weekend. The Treasury plans to ...
PRESS DIGEST - Financial Times - Sept 5 - ForbesThe Prime Minister has admitted that his plans to force Britain's energy firms to fund a one billion pound cash rebate for poor families have failed. Speaking to a Scottish business audience, Gordon Brown said that his fuel-poverty bill would instead ...
Paulson Intends to Use New Power to Restructure Fannie, Freddie - BloombergSept. 6 (Bloomberg) -- Treasury Secretary Henry Paulson will use his authority to rescue Fannie Mae and Freddie Mac , likely placing the beleaguered mortgage-finance companies under government control as early as this weekend. ``Late yesterday I ...
Higher earners now hit by mortgage repossessions - Daily TelegraphMortgage arrears and home repossessions are rising fast among higher earning households, a report by a credit rating agency suggests. The finding indicates that serious housing debt problems caused by the credit crisis are not limited to those on low ...
Sellers on hold - Baltimore SunFor every home that sold in the first half of the year, 10 more would-be sellers in the Baltimore metro area were wishing, waiting, hoping. With credit and economic woes weighing on buyers, that figure is twice as high as normal. And it's night and ...

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Today's Mortgage Terms starting with J
Jumbo Loan: A mortgage over the $300,700 limit established by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. A jumbo mortgage tend to carry a higher interest rate than a conventional mortgage.
Junior Mortgage: A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid down first.
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