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News about Mortgages:
The gift of the Magi, 2008 style - Baxter BulletinChristmas was a week away, and Sabrina didn't have enough money to buy a gift for her husband Beckett. How their fortunes had reversed! Unable to keep up with their house payments after their no-money-down, interest-only, balloon mortgage reset, the ...
Financial literacy needed - Baxter BulletinLike many other people, I'm feeling the ripple effects of this country's economic meltdown. If the losses in my retirement account can't be recovered, I may have to work well into my golden years before I retire. I worry I won't have the savings to ...
Delta, Northwest airlines post traffic declines - Milwaukee Journal SentinelDec. 4, 2008 2:50 p.m. | Delta Air Lines Inc. today reported November traffic declines for both its Delta and Northwest Airlines units. For the Delta operations, revenue passenger miles in the United States dropped 10.5% compared to November 2007 ...
People in Business - Nashville TennesseanTennessee State Board of Accountancy has announced candidates who are Nashville residents who passed the Uniform Certified Public Accountant examination: James N. Lane, April L. Mitchell and Chandar A. Reed of Antioch; Robert A. Argo, Amy E. Mitchell ...
"Spin" Comes Around To M.I.A. - Idolator.comOnce again, we present Rock-Critically Correct, a feature in which the most recent issues of Rolling Stone , Blender , Vibe , and Spin are given a once-over by a writer who's contributed to many of those magazines, as well as a few others ! In this ...
Women Start Club to Control Their Personal Finances - The LedgerMortgage brokers deserve their fair share of blame for the foreclosures haunting the housing market right now. And plenty of banks allowed too many people to take on too much debt. But it was individual consumers who ultimately took on those loans ...
McCain tussles with Palin over whipping up a mob mentality - Times OnlineWith his electoral prospects fading by the day, Senator John McCain has fallen out with his vice-presidential running mate about the direction of his White House campaign. McCain has become alarmed about the fury unleashed by Sarah Palin, the moose ...
Business events and economic reports scheduled - Boston GlobeGovernment closed for Columbus Day. Bond markets closed. STOCKHOLM, Sweden -- Nobel memorial prize in economics announced. TUESDAY, Oct. 14 WASHINGTON -- Weekly Treasury auction; Weekly Treasury briefing. JACKSONVILLE, Fla. -- CSX Corp. releases ...
Consumers cut back sharply on spending - Baxter BulletinWASHINGTON -- Consumers, taking a beating from the worst financial crisis in seven decades, cut back sharply on their spending in October, pushing retail sales down by a record amount. As President George W. Bush and other world leaders gathered for ...
Forming a Club to Share Financial Wisdom - Herald TribuneMortgage brokers deserve their fair share of blame for the foreclosures haunting the housing market right now. And plenty of banks allowed too many people to take on too much debt. Bayne Stanley for The New York Times Five women in Vancouver, British ...
Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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