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Nation/World briefs - Detroit NewsDENVER -- Crude futures retreated for a second consecutive day as the government released more disheartening economic data and another inventory report suggested further erosion in energy demand. Light, sweet crude for February delivery fell 93 cents ...
Lebanon family gets more time to leave foreclosed property - Fosters Daily DemocratLEBANON, Maine — Suzanne Carter was given five additional days to move out of her home, just hours before she was going to be locked out Wednesday. The 14-year resident of 728 Upper Guinea Road had been ordered to vacate her property, where she ...
Citigroup to back rewriting mortgages - The Washington TimesGiant lender Citigroup announced Thursday it would support an effort in Congress to rewrite bankruptcy laws to give struggling homeowners the ability to rewrite the terms of their mortgages to avoid foreclosure -- the first major crack in the banking ...
Israel Ready For Any Development On Border With Lebanon-Min - Beurs.nlTEL AVIV (AFP)--Israel is ready for any development on its northern border with Lebanon, Defense Minister Ehud Barak said Saturday in a veiled warning to Hezbollah as the Jewish state launched a ground offensive in Gaza. 'While we are fighting in ...
Mortgage refinancing skyrockets - Cincinnati.comWith U.S. mortgage rates the lowest in 30 years, local lenders say they've seen a strong surge in loan applications as homeowners seek to refinance their mortgages in Greater Cincinnati and Northern Kentucky. From the largest commercial banks to ...
Labor Legislation - Chicago TribuneJERUSALEM (AP) — The U.N. suspended aid shipments in the Gaza Strip on Thursday and the Red Cross restricted its convoys after their trucks came under Israeli fire. The threat of a wider conflict arose when militants in Lebanon fired two rockets ...
GLOBAL MARKETS-Stocks end mixed but grim data sinks oil, dollar - ForbesMarkets in Europe and Asia had already closed lower before the Citigroup news, mainly on renewed fears that the global economy was weakening and corporations started warning investors of weak demand. That led to a sell-off in oil and a drop in grain ...
Stocks end mixed but grim data sinks oil and dollar - International Herald TribuneU.S. stocks staged a late rebound on Thursday after news that Citigroup agreed to support legislation aimed at stemming home loan foreclosures, offsetting bleak economic data and a grim outlook for world No. 1 retailer Wal-Mart. Markets in Europe and ...
The American puppet state - Online JournalPresident George W. Bush was in his stand-up comedian role when he declared that he wanted to be remembered as a fighter for human rights. Seldom has a fighter for human rights amassed Bush’s death toll. According to Information Clearing House ...
Stock & fund quotes - ninemsnNEW YORK, Jan 8 (Reuters) - U.S. stocks staged a late rebound on Thursday after news that Citigroup agreed to support legislation aimed at stemming home loan foreclosures, offsetting bleak economic data and a grim outlook for world No. 1 retailer Wal ...
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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