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News about Mortgages:
Record global rate cuts - Macon DailyLONDON/TOKYO ( Reuters ) - Sweden cut interest rates by a record 175 basis points on Thursday, prompting speculation of dramatic cuts elsewhere in Europe to try to stop a global slump spreading faster than policymakers had anticipated. Japanese ...
Piedmont Community Bank Group, Inc. Announces Third Quarter Earnings - PR InsidePiedmont Community Bank Group, Inc. (OTC Bulletin Board: PCBN) today announced results for the third quarter of 2008 which included a 90% decrease in net income as compared to the same period of 2007 and a 33% decrease in net interest income as ...
Credit card companies quick to raise rates, fees - Atlanta Journal ConstitutionGreg Fischer was already fed up with Bank of America for doubling his credit card’s interest rate to 28.99 percent — the price for being a couple of weeks late with a payment in April. What sent him over the top, he said, was the bank’s ...
Obama tells NY Times he'd do better without Fox News around - Los Angeles Times BlogsThe New York Times, of all places, has a long interview coming out Sunday with the freshman senator from Illinois, Barack Obama. In it, the Democratic presidential nominee, who's leading in most recent political polls, still bemoans the existence of ...
Ramblin' On - Atlanta Journal ConstitutionAll the entries posted in November. If any Tech fans out there are still holding out to see what Paul Johnson is all about…well, I don’t think they’ll ever be convinced. I’ll admit that I was “cautiously optimistic” going into this season ...
Archives » November 2008 - Newsweek BlogWhen president-elect Barack Obama rolls out his national security team tomorrow in Chicago, he will make history on several fronts. While the naming of Hillary Clinton, whom he battled against in an epic campaign for the Democratic nomination, as ...
To Pay or Not To Pay (My Mortgage): An "Untroubled" Homeowner's ... - OpEdNews.comAfter hearing the details of the latest proposed Federal Mortgage Aid Plan , do any other homeowners out there feel like you just won the un-lottery? The plan reportedly targets “troubled borrowers“, roughly defined as those who have missed three ...
Macon, Bibb in line for more than $4 million for housing - Macon TelegraphMacon and Bibb County are in line for more than $4 million in federal funding to fight the effects of foreclosures, and other Middle Georgia counties likely will split hundreds of thousands more from a federal response to the mortgage crisis. The ...
Outdoor Tech closes; Macon loses 84 jobs - Commercial DispatchMACON — The cavernous interior of the 155,000-square-foot Outdoor Technologies manufacturing plant off Highway 45 South on Wednesday hardly resembled the flurry of activity present at the location a week ago. Though a small crew of workers remained ...
Apartment rents remain unchanged - AZCentral.comSAN FRANCISCO - While homeowners may be weathering rising mortgage rates or dropping property values, apartment renters have a bit of relief. Apartment rents, as well as apartment occupancy, across the country were virtually unchanged in the third ...
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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