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News about Mortgages:
Homeowners' new reality: You're suddenly poorer - Globe and MailAdil Burney from Canada writes: For 2009, CREA is delusional. Suppose we end December 2008 at -9% YoY. To end up a -2% for the full year 2009, we would probably have to bottom in December 2008 and then get to a around 7% by late 2009. CREA is talking ...
Should the government bail out automakers, too? - Atlanta Journal ConstitutionAbout five seconds after the $700-billion financial bailout passed, politicians asked about saving automakers, too. And then there were the “underwater” mortgage-holders. And really, would it be fair to let Circuit City die? The “where-does-it ...
Braves fans, it just feels late - Atlanta Journal ConstitutionIt’s Thanksgiving and we’re all thankful for something, most of us for a whole lot. So have a good one, everybody, and try to be thankful for what you have despite these rough times. We’re glad you come here to the Braves/Man In Black blog ...
Tories promise stimulus, but not until new year - Globe and MailKevin Desmoulin from Canada writes: Robert Loblaw from Canada writes: Can you imagine Dion's throne speech if he had been elected? Reality Check, The Conservatives and Steven Harper got elected again. Put up or shut up, stand up or take a walk again ...
LETTER: Those who follow rules forced to 'bail out' - Journal Gazette and Times CourierIf you already have a fixed-rate mortgage, nothing will change with our recent financial crisis as far as your housing is concerned, except for a rising feeling of righteous indignation that you as a taxpayer are footing the bill for the mistakes of ...
McCain slams Obama on 'redistribution of wealth' - Boston GlobeConservative bloggers and websites have been flogging it, and now John McCain's campaign has put its imprimatur on it: a newly disclosed radio interview in which Democratic rival Barack Obama talks about the redistribution of wealth. The interview ...
Wall Street runs through Las Vegas, campaigns - Las Vegas SunThat partially finished multibillion-dollar Strip resort, paralyzed because the money is gone, has become a symbol of Wall Street’s far-reaching impact on Las Vegas. After a year in which Las Vegas neighborhoods suffered from the subprime mortgage ...
Many National City jobs safe, PNC's CEO says - Cleveland Plain Dealer BlogCompanies sometimes say one thing and do another, Jim Rohr believes. So when he says that a large number of jobs at National City Corp. are safe, he understands if people are skeptical. PNC Financial Services Group PNC Chairman and CEO Jim Rohr Rohr ...
Does Angelina Orchestrate Her Entire Image? - PopsugarOn Thursday, the New York Times ran a pretty unflattering piece about Angelina Jolie and her calculating way of leveraging coverage of herself . The article asserts that she struck a deal with People : baby photos in exchange for a $14 million ...
Treasury official denies steering bailout money to PNC for National ... - Cleveland Plain Dealer BlogWASHINGTON -- A Treasury Department official Tuesday angrily denied Rep. Steve LaTourette's suggestions that he orchestrated PNC Financial Services Group's purchase of National City Bank with federal bank bailout dollars because he was a PNC attorney ...
Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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