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Michigan business news in brief: Dow acquisition is OK'd - Detroit Free PressDow Chemical Co., the biggest U.S. chemical maker, received European Union clearance to acquire Rohm & Haas Co. for $15.4 billion. The European Commission, the 27-nation group's antitrust regulator in Brussels, determined the merger doesn't ...
Woes continue for Farwell's Mountain festivals; bank sets foreclosure ... - Grand Rapids PressKimberly Megoran has her own way of dealing with the fall of Farwell's Mountain Country and Rock festivals. "I poured everything in a song, 'Already Gone,' " said the events' former publicist, one of many who walked away heartbroken and unpaid when ...
The Tax Man - Midland Daily NewsCity Assessor Reid Duford knows all about the roller coaster ride that's been Midland's property tax story over the past few years. He should. He's been in the front car. "I agree (with the forecast) that there will be a downward trend in property ...
COMMON PLEAS - Salem News OnlineChase Home Finance v. Jeffrey C. Watson of East Liverpool; foreclosure sought. Countrywide Home Loans v. Daniel and Lori Earich of Salineville, etc; foreclosure sought. Bank of New York v. Terri L. Presto of Wellsville, etc; foreclosure sought. U.S ...
Money is here to lend, but where are borrowers? - Grand Rapids PressBanks took another hit last week when GMAC began lending money to General Motors' car buyers within hours after getting a federal bailout. Why can't banks pump up lending as quickly as GMAC has, a Detroit editorial demanded to know. The public and ...
Court news - Hendricks County FlyerNathan Adam Daniel, Danville and Kisha Rachelle Zigler, Brownsburg. Anthony J. Dick, Plainfield and Kimberly A. Ehmen, Indianapolis. Travis Lee Fields, Carbon and Lindsey Sue Buck, Brownsburg. Nathan Andrew Finlay, Danville and Sarah Elizabeth Baker ...
Letter of the Day - Edmonton SunOwners and players in professional sports are in big trouble. In my opinion, they deserve it. The New York Yankees have signed A.J. Burnett, a pitcher of limited talent, for $82.5 million over five years. He pitched 221 innings last year with the ...
2009 will be bumpy - Edmonton SunBUCERIA, Mexico -- I'd have to be Merlin's cousin to prognosticate the coming year accurately. So much to consider and so much fluff clogging the trap. Barack Obama assuming the U.S. presidency this month makes things even harder to figure. He ...
Looking Back Part 2: 2008 ended on good note - Wahoo NewsASHLAND - In 2008, Ashland and the surrounding communities saw their share of triumphs and tragedy. The second half of the year began with more news on the closing of a local grain elevator and with the annual Stir-Up celebration that livened the ...
Today's Mortgage Terms starting with D
Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
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