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News about Mortgages:
Orange offers free mortgage foreclosure prevention services and ... - Mid-Hudson News NetworkGOSHEN -- Orange County Executive Edward Diana and Tom Lane, director of the Orange County Office of Community Development, Tuesday said Orange County residents who are in danger of losing their homes through foreclosure can receive free counseling ...
Goshen police looking for victims after embezzlement accusations - 22 WSBTInvestigators in Goshen are looking for people who may have been the victim in what police are investigating as an embezzlement case. (WSBT photo) Story Created: Jan 7, 2009 at 9:00 PM EST Story Updated: Jan 7, 2009 at 10:48 PM EST GOSHEN — Police ...
Pay the banker, get a low price on a house - Elkhart TruthGOSHEN -- If you know what you're doing, the Elkhart County Sheriff's Department mortgage foreclosure sale can be a good place to find a house. At the last sale of the year in which foreclosures made big news nationally, several dozen people gathered ...
Fed: Economic woes will last despite radical moves - Goshen NewsWASHINGTON (AP) — Even as Federal Reserve officials slashed their key interest rate to a record low and pledged to use other unconventional tools to fight the worst financial crisis since the 1930s, they still feared the economy would be stuck in a ...
Obama: Country needs economic stimulus plan - Goshen NewsCHICAGO — President-elect Barack Obama urged congressional leaders Saturday to move quickly on an economic recovery plan, even as some Republicans are saying they want more time to review the details. Obama said Congress should pass an American ...
Donnery elected chairwoman of Orange County Legislature - Mid-Hudson News NetworkOrange County Democratic Committee Chair Jonathan Jacobson. GOSHEN - In a bold move to bridge three parties together within the Orange County Legislature, a Republican nominated a Democrat for the chairmanship, and for the first time in county ...
County unemployment up in November - Daily Local NewsChester County’s unemployment situation worsened in November, as the jobless rate jumped to 4.8 percent from October’s 4.4 percent. According the the state’s Department of Labor and Industry, 12,700 people were unemployed in the county in ...
Looking for a smoother ride in '09 - Visalia Times-DeltaAnd if can't be happy, let it at least be consistent. We have just shed a year that was as turbulent as any in our history in some things, and as uplifting and positive as any in our history in other ways. A graph of 2008 would resemble a graph of ...
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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