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US to leave door open on climate for Obama: officials - Khaleej Times
WASHINGTON - President George W. Bush’s outgoing administration promised Wednesday to leave options open at next week’s UN climate talks in Poznan, Poland on president-elect Barack Obama’s possible environment plans. “We hope that Poznan can ...

Brown defends mortgage break scheme - Cambridge News
Prime Minister Gordon Brown said the Government's plan to give struggling homeowners a two-year mortgage payment holiday would make people "feel more secure in the downturn". He said his Government wanted to "do everything we can to reassure people ...

Call for £1bn mortgage plan details - Cambridge News
Struggling homeowners are eagerly awaiting details of a government rescue plan which will give them a two-year mortgage holiday underwritten by the taxpayer. Under the Homeowner Mortgage Support Scheme people who experience a significant temporary ...

Cambridge Index climbs 12.8% - Cambridge Network
The Cambridge Index surged 12.8% or 407.5 points to 3,580.8, aided by the improvement in market sentiments, after the US and UK government pledged billions of dollars to support economic growth and revive lending. The top 10 index heavy weight stocks ...

New Anglia IT Recruitment website, developed by netXtra, triumphant in ... - Cambridge Network
Having recently been highly successful at the Trade Association Forum Best Practice Awards, with websites developed for the Recruitment and Employment Confederation (REC), the British Educational Suppliers Association and the Council of Mortgage ...

Cause and Effect - American Enterprise Institute
Although the media are full of talk that we face a "crisis of capitalism," the underlying cause of the financial meltdown is something much more mundane and practical--the housing, tax, and bank regulatory policies of the U.S. government. The ...

Treasury Yields Drop to Record Lows as Bernanke Cites Buybacks - Bloomberg
Dec. 1 (Bloomberg) -- Treasuries rose, pushing yields to record lows, as Federal Reserve Chairman Ben S. Bernanke said the central bank may purchase Treasuries and target long-term interest rates to combat the deepening recession. Bonds rallied for a ...

Fed’s Plosser Says Central Bank Shouldn’t Favor Single Industry - Bloomberg
Dec. 2 (Bloomberg) -- The U.S. central bank should protect its independence and avoid targeting its credit policies toward specific industries or businesses, Federal Reserve Bank of Philadelphia President Charles Plosser said. “Central bank lending ...

Latest News - dBusinessNews.com
Maurice's Gourmet Barbeque Recognized by Kiplinger's Personal Finance Magazine COLUMBIA -- Maurice's Gourmet Barbeque is pleased to announce the ... Microsoft and EMC's RSA Security Division Team Up to Help Customers Secure Sensitive Data HOPKINTON ...

Around Tech Valley - Times Union
TD Charitable Foundation awarded two grants to winners of its "Housing for Everyone" competition, supporting affordable housing initiatives in the community. The Homeless and Travelers Aid Society of the Capital District in Albany will use a $15,000 ...

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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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