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News about Mortgages:
Businessman gives mortgage proposal - Orlando SentinelBillionaire businessman Robert L. Johnson talked about his proposal to help solve the mortgage crisis Wednesday, as the chairman of Lake Mary -based Urban Trust Bank was in Central Florida for meetings. Best known as the founder of Black ...
Ways to whittle down your debt - NorthJersey.comWhen it comes to New Year's resolutions, Kathy Johnson of Sacramento, Calif., has two simple money-savers in mind: "to get out of debt and pay off all my credit cards." Johnson, a single mother, said her debts have accelerated due to health issues ...
NYPD DAILY BLOTTER - New York PostA 33-year-old father of three was shot and killed in his Woodhaven driveway yesterday by a thug he and his brother tried to fend off with sticks, police said. Beni Jagdesh and his brother got into an argument with the 18-year-old gunman outside the ...
Sun-Sentinel newsroom turns into movie set - Fort Lauderdale Sun-SentinelHarriet Johnson Brackey's workday normally revolves around things financial: Wall Street, mortgage rates, household budgets. But on Monday morning, the South Florida Sun-Sentinel personal finance writer's first priority was making sure that the ...
Condos enjoy break on taxes - SaratogianSARATOGA SPRINGS — Commissioner of Accounts John Franck is urging his colleagues on the City Council to back state legislation that would change the way condominiums are assessed. The move would raise property taxes for people buying new condos and ...
Paulson Bailout Didn’t Give Taxpayers What Goldman Gave Buffett - BloombergJan. 9 (Bloomberg) -- Henry Paulson may be the most powerful manager of money in the world and he still couldn’t do for taxpayers with the $700 billion bailout of American banks what Warren Buffett did for his shareholders in investing in Goldman ...
Ballard Road plans advance - SaratogianWILTON —For the most part, commercial development is already past peak in this rapidly growing community, but some areas for growth still exist. Toward that end, the town will take a more aggressive approach to marketing the Ballard Road corridor ...
Mortgage rates dropping: Is it time to refinance? - Providence JournalMINNEAPOLIS — This year is likely to be a little cheerier at Kevin Coughlin’s home. Coughlin refinanced the adjustable-rate mortgage on his Shorewood, Minn., house last month into a 30-year fixed-rate mortgage that’s going to save him $200 a ...
Obama lays out his stimulus proposal - San Francisco GateFriday, January 9, 2009 "On Friday, we're likely to learn that we lost more jobs last year than at any time since World War II," Obama said referring to the unemployment report that the Labor Department will issue today. In a 17-minute speech that ...
Lenders overcharged Latinos, blacks - New York Daily NewsTwo mortgage brokerage companies must compensate 445 black and Hispanic borrowers who were systematically charged higher fees than white clients. HCI Mortgage and Consumer One Mortgage must pay $665,000 in restitution, according to a settlement ...
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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