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BUSINESS HIGHLIGHTS - Highlands Today
NEW YORK (AP) - Wall Street saw a merciful end to a dreadful year Wednesday as stocks closed the last session of 2008 with a sizable advance. The Dow Jones industrials rose 108 points to 8,776 - but plunged nearly 34 percent over the course of the ...

FDIC Unnationalizes Some Debt - Forbes
Signs of life in the U.S. mortgage market emerged Wednesday, after the federal government inked a deal to let a private company service a portfolio of loans that had been owned by a failed Nevada bank. The deal could serve as a model for the ...

Denver's home-resale market shows signs of life - Denver Post
Metro Denver home prices and sales continued to slide last year, according to real estate statistics released Wednesday. But Denver's home-resale market also showed signs of finding its balance, with the supply of unsold homes falling sharply and ...

Habitat Dedicates New Home In Abingdon - TriCities.com
ABINGDON, Va. – Judy Crosswhite and her husband were one year shy of celebrating their silver anniversary when he dropped the bomb with a single word: Divorce. That was five years ago. Ever since, β€œIt’s been rough, very rough,” she said ...

CBJ: Property Transfers & Building Permits - Daily Progress
NOV. 3 l Cecil, Donald R to Cecil, William Brian, lot 46 Virginia Avenue, gift. l Orlick, Jeffrey T to Brennan, Andrew, parcel on Locust Avenue, $439,200. l Federal National Mortgage Association to Amtrust Bank, lot 66L block A Orangedale, by deed of ...

Aurora propery violations announced - Beacon News
The city of Aurora has filed the following property maintenance violation cases, which have been closed through the housing court system. Exterior and Interior Maintenance Violations: At a single-unit rental at 136 Evans Ave., owned by John Lamberti ...

In 2009, Sacramentans Hope for Progress - Sacramento Union
The Union hit the streets last week to inquire what resolutions people around the community might have for the present new year and how they felt about 2008. The survey, as one might suspect, resulted in a variety of responses, many of which ...

For the new year, Corzine pledges to help get state through troubled ... - Newark Star-Ledger
Tough times face New Jersey in 2009, but Gov. Jon Corzine today made a New Year's pledge to do everything in his power to get the state and its people through the difficult period. Speaking at the Essex County government reorganization meeting in ...

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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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