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News about Mortgages:
CITY OF LOCKPORT: Mortgage company fined over housing violations - Lockport Union-SunA mortgage company that disposed of a dilapidated Harvey Avenue house will pay a fine to satisfy charges it neglected the house while it still held the title. American General Home Equity Inc., 5875 S. Transit Road, agreed last month to plead guilty ...
Toys for Tots Drop-off Sites - WBAY Green BayToys for Tots is collecting toys to make sure children in need get a gift during this holiday season. Toys donated in your area stay in your area. Please contact the webmaster to add, remove, or edit a drop-off site. The deadline for dropping off ...
Congress tackles Wall Street reform - CNN MoneyNEW YORK (CNNMoney.com) -- Members of Congress, fiscal experts and Wall Street lobbyists gathered Tuesday to discuss ways to change regulation of the finance industry to shore up its foundations and prevent future crises. "We must recognize that ...
Banking execs ask for more regulation - Atlanta Journal ConstitutionWashington — Setting the stage for a dramatic swing toward more regulation, the House Financial Services committee Tuesday heard pleas from bankers and economists for more government oversight of credit and financial markets. U.S. Rep. Tom Price of ...
Rescue Plan Chafes Small Banks - Wall Street JournalWASHINGTON -- The Treasury's bailout plan is fueling a long-simmering war between financial institutions, prompting fears among small banks that big banks getting rescue money will be encouraged to buy smaller rivals. Big banks say the purchase of ...
Heritage Christian plans expansion - Topeka Capitol-JournalAn intercom system, an industrial arts shop, a home gymnasium, a full-sized soccer field and room to grow. These are just a few things Aletha Rogers sees in Heritage Christian School's future now that the private school has acquired the East ...
NAREE Names Best Real Estate Books of the Year in the Prestigious ... - HuntingtonNews.NetThe National Association of Real Estate Editors (NAREE) has named the 2008 winners of the Robert Bruss Real Estate Book Awards, recognizing excellence in recently published works. Winning the first place Gold Award in the competition is ...
Register for FREE - Wall Street JournalThe email address you have entered is already in use. Please re-enter the email address. Genworth Financial shares shed as much as 50% Tuesday following a credit rating cut from Moody’s Investor Service on Monday that made the company ineligible to ...
America's future? Socialist nation? - Florida Times-Union"Any of the various theories or systems of the ownership and operation of the means of production and distribution by society or the community rather than by private individuals, with all members of society or the community sharing in the work and ...
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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