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News about Mortgages:
Court win for Westpoint investors - West OnlineSix investors who lost money in the collapse of the Westpoint property investment group are to receive more than $850,000, a court has ordered. Westpoint, an Australia-wide property development group, failed between November 2005 and February 2006 ...
Official family reunion - The AustralianTHIS is the interest rate cut that Kevin Rudd and Wayne Swan needed: its aggression reveals a central bank resolve to fight the global downturn working in lockstep with the Rudd Government. Fiscal and monetary policy are in harmony. The Government ...
Would-be buyers get rent-free home offer - Edinburgh NewsA HOUSING developer is to allow potential buyers to live in its new properties free of charge for six months to help them save for a deposit. Mactaggart & Mickel's scheme, aimed at first-time buyers struggling to secure a mortgage, is designed to ...
Lavish lifestyle of an Allco exec - The AustralianGORDON Fell raised $870 million from investors, invested it in high-risk property trusts, then lost almost everything in the gamble. Everything, that is, except more than $50 million which Mr Fell -- also chair of Opera Australia -- personally ...
Today's Mortgage Terms starting with E
Equity: The difference between the current market value of a property and the total debt outstanding against the property.
Escrow: A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.
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