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Electricity shut-offs on rise - Martinsville BulletinThe number of local residents whose electricity has been shut off for nonpayment of their bills has increased recently as the economy has worsened, according to officials. “We’re starting to see an increase in disconnections now for nonpayment ...
70-80 laid off in city - Martinsville BulletinA leading builder of modular single family homes is laying off about 25 percent of its Martinsville work force, company officials said Monday. Nationwide Custom Homes, an affiliate of Texas-based Palm Harbor Homes Inc., is laying off between 70 and ...
Obama advisor stumps in city - Martinsville BulletinIf he is elected president on Nov. 4, Sen. Barack Obama will make sure the government does everything it can to prevent financial crises such as the one pummeling the nation this week from happening again, an adviser to his campaign said Wednesday ...
Jun 8, 12:57 AM EDT - Associated PressFRANKLIN, Ind. (AP) -- Severe storms crippled central Indiana with as much as 10 inches of rain Saturday and spawned tornadoes that ripped up roofs and flipped tractor-trailers in Wisconsin and the Chicago suburbs. The floods in Indiana threatened ...

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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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