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News about Mortgages:
A near-riot and parliament besieged: Iceland boiling mad at credit ... - ScotsmanTHOUSANDS of Icelanders have demonstrated in Reykjavik to demand the resignation of Prime Minister Geir Haarde and Central Bank governor David Oddsson, for failing to stop the country's financial meltdown. It was the latest in a series of protests in ...
Wilting economy is bad for florists - Baltimore SunW ho doesn't smile when surprised with a dozen roses at work? Even after seeing the "I love you very much" card from her fiance? Meet Melissa Fralin. It's not that Fralin is ungrateful or shy. And it's not because, ha ha, she works at the Motor ...
Massive mortgage squeeze - bbcNet new mortgage lending is likely to fall to less than zero next year, according to a report commissioned by the Treasury from Sir James Crosby, the former chief executive of HBOS, owner of the Halifax. Sir James is warning that as homeowners are ...
Brown tells the lenders to cut mortgage rates - ScotsmanBANKS were under growing pressure last night to pass on dramatic savings to borrowers after the Bank of England slashed interest rates by 1.5 percentage points. Only Lloyds TSB confirmed it would adjust mortgage rates immediately, despite demands ...
Road trip in search of the ‘real England’ - Financial TimesThe driving, I could tell from the start, was going to be controversial. It began in quick succession with a smashed traffic cone, a close shave with an unwary pedestrian and the grisly murder of an entire family of voles, who, it must be admitted ...
Planning system is damaging Scotland’s future in renewables - Sunday HeraldIN THE revived energy debate that has seen the UK government return to nuclear energy as its preferred choice to bridge Britain's predicted energy gap, there is the built-in assumption that the old and very lengthy planning procedures involved in ...
London seeks end to Scots nuclear veto - ScotsmanTHE UK government is searching for a way to end Scotland's effective veto over the building of nuclear power stations north of the Border. It has asked the Calman Commission – set up to review devolution – to solve the "problem" of Holyrood using ...
Tory party conference: David Cameron's speech in Birmingham in full - Daily TelegraphToday the financial crisis means that all eyes are on the economy and the financial markets and that is absolutely right. As I said yesterday, on this issue, we must put aside our differences and work together with the government in the short-term to ...
Brent policeman jailed for kicking drunk - Harrow TimesA BRENT policeman has been jailed for attacking a drunk while on duty. Andy Graham was sentenced to 12 weeks for leading Mahdi Jamal into Barham Park, in Wembley, tripping him up and kicking him three times in the back, leaving him lying limp on the ...
Big names join fight for HBOS - Scotsman.comTHE tycoon Sir Tom Farmer is at the head of a growing list of senior business figures demanding a rethink of the HBOS takeover, The Scotsman can reveal. Figures from industries including construction, retail, property and tourism are all concerned ...
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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