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Prince Henry Society announces scholarship winners - South Coast Today
The New Bedford Chapter of the Prince Henry Society of Massachusetts awarded a record $41,000 in scholarships to area college bound students. For the 28th consecutive year, the society held its annual scholarship brunch at the Century House in ...

South End home gets new life, new owner - South Coast Today
NEW BEDFORD β€” The city turned over the keys Friday for an extensively-renovated, three-family house in the South End to a lower-income, first-time homebuyer in what officials suggested could serve as a model to help address New Bedford's problems ...

Chris Satullo: Of Wall Street, moral hazard and our new fortune - Philadelphia Daily News
The dukes of moral hazard have had a rough few weeks. Some sit dazed and bleeding in the gutters of Wall Street. Some hang on, scared and chastened. As the agonies of financial behemoths grow - venerable Lehman Bros. nearly kaput, bullish Merrill ...

Trust is at the heart of credit crisis - Kansas City Star
Wall Street is having its George Bailey moment. The credit crisis roiling the financial system β€” larded as it is with terms such as mortgage-backed securities, credit default swaps and derivatives β€” is so complex that it’s incomprehensible even ...

93% of All Mortgages are Being Paid on Time - Shelbyville Times-Gazette
Treasury Secretary Henry Paulson said Thursday that many proposals being put forward to deal with the housing slump would do more harm than good. While he still believes that the housing problem remains the biggest downside risk to the economy ...

Burt from the benches: MP's column - Bedford Today
Britain returns to some sort of normality after the holiday period to two distinctive sounds. The first is of the belts tightening as we realise that the economic troubles have not passed away with the summer and look set to stay. When the warnings ...

Every budget will get bitten - Detroit Free Press
Many families, rightfully so, are angry about the potential taxpayer tab. They pay mortgages on time, skip the trips to Disney World, bag a lunch a few days a week and live for years without granite countertops. Who truly wants to pay higher taxes to ...

Housing gloom deepens as prices plunge 12.7% - Times Online
House prices fell by 12.7 per cent in the year to August, it emerged today, declining at the fastest rate since 1983. Today's figure is above the 10.5 per cent annual fall recorded by Nationwide last month. Halifax said today that house prices in the ...

Bank of England holds interest rate at 5% - Times Online
The Bank of England kept interest rates on hold at 5 per cent today, despite widespread expectations that the country is set to enter a recession in the second half of the year. It is likely that while a rate cut was discussed among the Bank's ...

Group helps families in danger of foreclosure - Lowell Sun
Osman and Rosaline Bangura have their foreclosure on hold from help from the Coalition for a Better Acre. SUN /David H. BROW LOWELL -- In the spring of 2005, Rose Bangura was dancing in the streets of Centralville. She and her husband, Osman, who had ...

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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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