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News about Mortgages:
Larry Olson: Is a reverse mortgage right for you? - La Crosse TribuneSaturday, Betty and I arrived at our residence in Texas for a two-month stay to reacquaint ourselves with family and to monitor repairs — made necessary by September’s Hurricane Ike — to our Pearland home. My weekly column will resume in early ...
Housing crisis creates opportunities - TelegraphAfter a significant slump in 2008, the home mortgage business appears to be entering 2009 on an upswing. Area mortgage specialists reported business concluding 2008 on the rise with no forecast of loan or refinancing inquiries slowing as 2009 begins ...
Operation Fresh Start Homes Sitting In Idle Market - Channel 3000The nonprofit organization trains youth by building homes, but now it is sitting on 10 finished, unsold homes. "We have about 10 homes on the market right now," said Judy Olson. "Most of the homes are in Madison, a couple in Sun Prairie." Former ...
NYPD DAILY BLOTTER - New York PostA 33-year-old father of three was shot and killed in his Woodhaven driveway yesterday by a thug he and his brother tried to fend off with sticks, police said. Beni Jagdesh and his brother got into an argument with the 18-year-old gunman outside the ...
Ten Cities For Job Growth In 2009 - ForbesHaving trouble finding a job in, say, New York City or South Florida? You might give Madison, Wis., a try. It's got an unusually healthy outlook for job growth and a strikingly low unemployment rate--3.5% in October, when the national rate was 6.5 ...
Tracking Expenses Can Help Families Stay On Budget - Channel 3000MADISON, Wis. -- With the economy expected to remain stagnant in the New Year, 2009 might be the perfect time to work on putting together a personal budget. "We go out to eat less and try to drive less," said one woman. "I'm not buying as much pre ...
Owner wants to give Overture Center to city; not a good idea, mayor ... - Wisconsin State JournalOverture Center's owner wants to give the $205 million arts facility to the city of Madison or another entity for $1 as part of a complex deal to secure its long-term future, a letter obtained by the Wisconsin State Journal shows. City officials are ...
Land deal clears way for ROTHBURY concert - Oceanas Herald-JournalGRAND RAPIDS — Great Lakes Energy’s claim to a land parcel at the Double JJ Resort in southern Oceana County was taken out of the picture Thursday, essentially clearing the way for a second ROTHBURY mega music festival this summer. At a ...
REAL ESTATE - News-Democrat• 357 Breckenridge Drive; from Timothy R. Downing; to Ana-Maria Reyes; $132,000. • 22 Birdie Drive; from Mark E. Sauerwein and Linda K. Sauerwein; to Steven T. Lang and Michelle L. Lang; $225,500. • 400 S. 16th St.; from Clay Weygandts and Lang ...
Casino and Gambling - Chicago TribuneDemocratic legislative leaders said Wednesday a budget crunch and demands of funding flood recovery efforts will likely draw most attention during the upcoming legislative session. At a news conference previewing their agenda for the session opening ...
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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