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Mortgage crisis hits new depth - Cincinnati.com
The number of Southwest Ohio homeowners who went into foreclosure soared during the second quarter as the national mortgage crisis continued. Nationwide, a record 9.2 percent of mortgage holders were either behind on their payments or in foreclosure ...

Forced sales increase as owners fail on payments - Stuff
Ray White selling agent and auctioneer Lynn Eagar said he had seen massive growth in the number of sales, fuelled by the collapse of finance companies as well as the mortgage crisis in the US. Mr Eagar said he had always had a large mortgagee sales ...

Foreclosures still rising - Cincinnati.com
New foreclosure filings soared in Southwest Ohio in the second quarter of 2008. Meanwhile, a record 9.2 percent of American mortgage holders were either behind on their payments or in foreclosure at the end of June, according to reports out today ...

Top Gear on the road to global domination - Guardian Unlimited
It is a television phenomenon that is set to become Britain's latest lucrative cultural export, a specialist show that reinvented itself as mainstream family entertainment, winning a Sunday-night audience measuring more than eight million. Top Gear ...

Backlash in the heartland - The Columbus Dispatch
Maria, an immigrant from El Salvador, lives, drives and works in the shadows of Columbus. Last year, she entered the United States illegally. The young woman climbed into a van with a man she had paid $6,500 to take her out of El Salvador and smuggle ...

The Fine Print - Marion Chronicle-Tribune
Circle K 2220 , 863 S. Main St., Upland, Aug. 18, routine; 1C, 6NC, 1R; NC, the lights in the Noble Roman’s display case are not shatter resistant or plastic covered, five days; NC, employees personal drinks not stored properly in designated areas ...

Government-backed mortgages soon to face stricter rules - The London Free Press
Yesterday my column was about not dismissing variable-rate mortgages out of hand, because they could potentially save you money during the long term. Today's column is a reminder, which came to me through Strategic Mortgages based in Hamilton and ...

Construction begins on affordable housing project in Komoka - CNW Group
KOMOKA, ON, Sept. 5 /CNW/ - The Government of Canada, the Government of Ontario, the County of Middlesex and the Township of Middlesex Centre are pleased to announce the start of construction of the Komoka Seniors' Apartments Complex, an affordable ...

Lincoln ranked No. 1 in insurance sales - Evening Star
The organization formerly known as the Life Insurance Management Research Association ranked Lincoln National Corp. at the top of the industry in life insurance sales for 2007. The Philadelphia-based insurance and financial-services company does ...

Job losses adding to ministry, agency woes, officials say - Daily Citizen-News
Before he came to work at Providence Ministries, Mark Pate said he tried many times to hold jobs gotten through temporary agencies. “At the end of the shift on the 89th day they tell you to report back to the ‘temp’ office so you don’t hit ...

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Today's Mortgage Terms starting with F

  • Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
  • Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
  • Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
  • FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
  • First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
  • Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
  • Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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