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News about Mortgages:
Foreclosure aid on its way - RecordSTOCKTON - Neighborhoods pummeled by the subprime mortgage debacle will start seeing a few new folks moving into foreclosed homes with help from federal funding on its way to San Joaquin County. On Tuesday, the Board of Supervisors approved a plan ...
Latest News - dBusinessNews.comKilpatrick Stockton Receives Top Honors at 2008 World Leaders International Intellectual Property Awards ATLANTA -- Kilpatrick Stockton announced today that it was recognized ... Selling Source Creates New Consumer Acquisition Group Taps Gary Fisher ...
Rescue Schemes - Modesto BeeWASHINGTON -- The foreclosure sharks are circling the San Joaquin Valley. Homeowners beware. Just ask Fresno resident Patricia Ireland. A temporarily laid-off Internal Revenue Service employee, Ireland was scrambling to meet her mortgage payments ...
REQUIRED READING - New York PostYou will want to read Naipaul's books. You will not want to invite him to your Christmas party. Trinidad-born literary giant V.S. Naipaul made fun of people with darker skin than himself, and was annoyed that his wife took too long to die of breast ...
Home prices dive - AZCentral.comHome values in Arizona are approaching free fall. New figures from the Federal Housing Finance Agency show that the value of the state's "average" home has plummeted more than 6 percent in the three months ending Sept. 30. Year over year, values are ...
Housing Prices Continue to Decline Nationwide - MSN MoneyCentralIHS Global Insight, the world's leading company for economic and financial analysis and forecasting, today released the third-quarter 2008 update of the U.S. housing valuation analysis, House Prices in America , showing that single-family U.S. home ...
Home sellers suffer amid wave of foreclosures - CNN MoneyNEW YORK (CNNMoney.com) -- Selling a home in this market is hard enough. Competing in a neighborhood flooded with foreclosed homes that are heavily discounted is nearly impossible. There are nearly a million repossessed homes on the market right now ...
HuffPost Readers Blog The Meltdown - Huffingtonpost.comWe've pulled together a selection of some of the standout stories to share with the rest of our readers -- both to do our part to document the downturn and to make sure that everyone out there feeling the financial pressure knows that they are not ...
Homes could replace swim center - Tracy PressTracy wants the "flexibility" to allow a developer the chance to build homes on land in southwestern Tracy slated for an aquatics park, just in case the swim center is built elsewhere. This artist's rendering shows a street in the proposed Ellis ...
Stockton Man Sentenced in Mortgage Fraud Ring - KXTV News10NetSACRAMENTO, CA - The first prison sentence resulting from a busted mortgage fraud ring based in Stockton was handed down by a federal judge on Monday. Jose Serrano, 45, was sentenced to 15 months in prison and ordered to pay more than $219,000 in ...
Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
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