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News about Mortgages:
America's Top Five Scams And How To Beat Them - ForbesThe mortgage industry may be hurting, but the mortgage scam business is booming. Despite the government crackdown on crooked lending companies, mortgage fraud is rising rapidly--it increased 42% in the first quarter of 2008, according to the Mortgage ...
Gustav kills 23 New Orleans makes evacuation plan - Southernledger.comGustav stalled offshore Wednesday and poured more misery onto Haiti after landslides and flooding killed 23 people. Oil workers began leaving their rigs and New Orleans drew up evacuation plans as forecasters warned the storm could plow into the U.S ...
News from Thursday, August 28 - The LedgerMan Guilty of Mortgage Fraud 2 min ago Teen Convicted Of Gunpoint Sexual Battery 6 min ago Lotto Jackpot Rolls Over to $15 Million 8 min ago 3-Vehicle Crash Injures Driver 10 min ago Haines City Man Indicted in Slayings, Attack 12 min ago FHA Will ...
Business news in brief - Philadelphia InquirerBankruptcies in Pennsylvania shot up more than 12 percent in the last year as a vicious mix of stagnant hiring, mounting credit card debt, and rising mortgage payments spurred financial struggles. Federal figures released yesterday showed that 31,494 ...
Obama vows political reform - Wausau Daily HeraldDENVER -- With a display of fireworks and pageantry worthy of an Olympic opening, Barack Obama began his historic campaign as the Democratic presidential nominee Thursday. He promised to reform Washington's broken politics and attacked his Republican ...
Obama: 'Time to change America' - Morris County Daily RecordDENVER -- With a display of fireworks and pageantry worthy of an Olympic opening, Barack Obama began his historic campaign as the Democratic presidential nominee Thursday. He promised to reform Washington's broken politics and attacked his Republican ...
Obama, McCain on the issues - FOX NewsMcCain: Opposes abortion rights. Has voted for abortion restrictions permissible under Roe v. Wade, and now says he would seek to overturn that guarantee of abortion rights while being open to a running mate who supports abortion rights. Would not ...
Street Cheers GDP - ForbesOptimism reigned on a low-volume day for Wall Street, as investors embraced an encouraging report on the U.S. economy and sent the market for gains led by financials, retailers and oil refiners. The Commerce Department revised its reading on second ...
Project Home Again and Barnes & Noble Chairman Announce First ... - StreetInsider.comProject Home Again (PHA) announced it has completed the selection of 20 local families who will receive new homes currently under construction in New Orleans' Gentilly neighborhood. Leonard Riggio, chairman of Barnes & Noble, and his wife Louise ...
As Gustav nears US, Gulf Coast begins moving on plans - ScoopBritish police say they are still trying to find the owners of a property gutted by arson in western England. House prices in Britain registered their biggest annual fall in almost two decades in August as banks tightened mortgage lending and ...

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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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