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News about Mortgages:
Forensic loan review can ease homeowners' woes - San Francisco GateTroubled homeowners who are having difficulty getting the attention of their lenders might want to obtain a forensic loan review to determine if their lenders made any mistakes when the mortgage was issued. Even a $30 miscalculation on the lender's ...
Two iconic small businesses shut their doors - Atlanta Journal ConstitutionIt looks like the nation’s economic crisis has claimed two of Atlanta’s most iconic small businesses. On Thursday, Bob Carroll Appliance Co., a fixture in Decatur for decades, sat empty. And Happy Herman’s, a gourmet take-out joint and quick ...
Reality bites after the cancer fight of his life - Sydney Morning HeraldThe public purse has looked after his body but not his teeth … Chris Planer, who lost his nose after cancer treatment, with his son William. CHRIS PLANER, who lost his nose to cancer, has experienced the health system's lack of logic. He has ...
Erie County Real Estate Transactions - Buffalo News• 747 Hopkins Road, 42 East Spring Street Associates Llc to 747 Hopkins Road Llc, $537,000. • 146 Collins Lane, Natale Building Corp. to Robert P. Tracy; Gail P. Tracy, $299,000. • 17 Mount Holyoke Court, J. Gabriella Pechenik to Sucharita ...
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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