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NorCal Zip Code Is Ground Zero Of Mortgage Mess - KPIX-TV5MOUNTAIN HOUSE (CBS 5) ― Just over the Altamont Pass is one of the communities hit hardest by the mortgage meltdown. In the Mountain House community, about 90 percent of the homes are now underwater, or worth less than is owed on the mortgage. The ...
Illinois, Michigan Banks Shut by Regulators; Toll Climbs to 15 - BloombergOct. 11 (Bloomberg) -- Illinois and Michigan banks with $123 million in deposits were closed by state regulators as tightening credit and a deepening real-estate slump pushes failures this year to 15, the most since 1993. Meridian Bank of Eldred ...
Underwater epicenter - Tracy PressMountain House leads the nation in 'underwater' homes — those worth less than what buyers paid. But that doesn't mean every homeowner is getting ready to ditch the planned community at the foot of the Altamont. MOUNTAIN HOUSE — Stockton claims ...
Northville's 'Main Street Bank' Goes Under - WXYZThe Federal Deposit Insurance Corp. was appointed receiver of the banks. Main Street Bank, based in Northville, Mich., had $98 million in assets and $86 million in deposits as of Oct. 7. Meridian Bank, based in Eldred, Ill., had assets of $39.2 ...
RSS Feed: Local News - Tracy PressFor most of us living in Tracy, commuting is a way of life. Sad as it may be, spending four hours a day driving to and from work is our norm. Politics aside, this is about families in Tracy who try to work though the hardships that come with ...
El Paso Corp. Q3 2008 Earnings Call Transcript - Seekingalpha.comGood morning. My name is Ann, and I will be your conference operator today. At this time I would like to welcome everyone to the El Paso Corporation Third Quarter 2008 Earnings Conference Call. All lines have been placed on mute to prevent any ...
Email Crime Scene KC - Kansas City Star BlogsMission playground fire causes $25K in damage Nudists versus wifeswappers! The Michael Vick story can't get any worse, right? UK boy, 12, died from using too much deodorant FL man stabs brother in the chest over a hat, police say As though being a ...
Letters to the Editor: Oct. 12 - Record SearchlightThis proposition does not seek to "protect marriage" but to "define marriage." Is it possible that you do not see the long-range ramifications this will have on many of our institutions if it does not pass? California has very strict anti ...
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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