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Luxury-home prices in central London, the world's most expensive location for prime real estate, had their first annual decline in five years as buyers were deterred by the prospect of a recession. The average price of houses and apartments in London ...

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London's luxury homes worth more than £10m have become "completely detached" from the slowdown in the main market, according to estate agent Knight Frank. Properties under £10m are now falling alongside the rest of the market Super-rich hedge fund ...

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August 2008 - Posts - MSNBC Firstread
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Ala. governor in talks over county debt crisis - Buffalo News
Gov. Bob Riley negotiated with creditors Friday over whether Alabama's largest county should seek a deal on its $3.2 billion sewer debt or file the largest bankruptcy in U.S. history. The meeting - held at the Capitol in Montgomery between the ...

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Gov. Sarah Palin of Alaska with Senator John McCain in Ohio on Friday. (Photo: Jim Wilson/The New York Times) 4:10 p.m. | Clinton’s Statement: Senator Hillary Rodham Clinton released the following statement: “We should all be proud of Governor ...

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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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