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News about Mortgages:
GMAC to cut 5,000 jobs at ResCap mortgage unit - ForbesNEW YORK (Reuters) - GMAC LLC (nyse: GJM - news - people ), the auto finance and mortgage company, plans to eliminate about 5,000 jobs at its Residential Capital LLC unit and close all 200 GMAC Mortgage retail offices to combat weak housing and ...
GMAC to cut 5,000 jobs, close all 200 retail offices - Detroit NewsWASHINGTON -- GMAC Financial Services said it was cutting 5,000 jobs at its ResCap mortgage lending subsidiary, or 60 percent of the staff, and closing all 200 GMAC Mortgage retail offices -- the latest sign of continuing woes in the housing sector ...
GMAC's mortgage unit to cut 5,000 jobs - Boston GlobeCHARLOTTE, N.C. - GMAC LLC and its Residential Capital LLC home loan unit plan to dismiss 5,000 employees, or 60 percent of the unit's staff, and close all 200 GMAC Mortgage retail offices because of weak real estate markets. The first 3,000 job cuts ...
Evergreen Investments Announces Portfolio Management Changes - ForbesCHARLOTTE, N.C., Sept. 5 /PRNewswire/ -- Evergreen Investments today announced changes to the following portfolio management teams: Fund Existing Portfolio New Portfolio Management Team Management Team Evergreen Adjustable Lisa Brown-Premo Richard ...
Wachovia turns to brokers for refinancing help - TradingMarkets.comThe Charlotte bank, which is wrestling with massive mortgage losses, gives the bank another way to reach more than 500,000 customers about the possibility of converting their Pick-A-Pay loans into traditional loans. Wachovia in July announced that it ...
Palin steps into spotlight, takes swipe at media - Miami HeraldRepublican presidential candidate Sen. John McCain, R-Ariz., right, greets Levi Johnston, left, boyfriend of Bristol Palin, center, the pregnant daughter of vice presidential candidate Alaska Gov. Sarah Palin, not pictured, as McCain arrives in ...
Wachovia Will Release 3rd Quarter 2008 Results Oct. 22 - MSN MoneyCentralCHARLOTTE, N.C. , Sept. 5 /PRNewswire-FirstCall/ -- Wachovia will release its third quarter 2008 results on Wednesday, Oct. 22, 2008 . Wachovia CEO Robert K. Steel will review Wachovia's results via teleconference and live audio webcast beginning at ...
Business Highlights - ForbesUnemployment climbs to 5-year high of 6.1 percent WASHINGTON (AP) - The nation's unemployment rate zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy ...
Sarasota County Real Estate Transfers, July 2008 - Herald TribuneCentex Homes to Wilkinson, Brent A., Lot 2, Block 73, Cedar Grove, Phase 1A, $205,000. U.S. Bank to Lusk, Daniel H. and Jamie M., Lot 5, Block 2691, 52 Addition, Port Charlotte, $152,500.
AIG shares fall on reports it may spin off assets - CNBCCHARLOTTE, N.C. - Shares of American International Group Inc. fell on Thursday, on reports that the insurer may be considering forming a separate company to hold billions in securities that have dogged its balance sheet for the past several quarters ...

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Today's Mortgage Terms starting with E
Equity: The difference between the current market value of a property and the total debt outstanding against the property.
Escrow: A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.
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