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Call for higher tax for super rich - Richmond & Twickenham Times
High earners on more than £100,000 a year should pay higher tax rates to help achieve greater equality between the rich and poor, the TUC has urged. The union organisation said its research showed that an increase in the number of super rich had ...

Upcoming business events and economic reports - CNBC
MONDAY, Sept. 8 WASHINGTON — Federal Reserve releases consumer credit for July, 3 p.m. Weekly Treasury auction. RICHMOND, Va. — Federal court hearing on Smithfield Foods Inc.'s racketeering lawsuit against a union seeking to organize workers at a ...

Fannie, Freddie Capital Concerns Prompt Paulson to Take Control - Bloomberg
Sept. 7 (Bloomberg) -- Treasury Secretary Henry Paulson decided to take control of Fannie Mae and Freddie Mac after a review found the beleaguered mortgage-finance companies used accounting methods that inflated their capital, according to people ...

UPI NewsTrack TopNews - United Press International
MIAMI, Sept. 7 (UPI) -- Hurricane Ike, a powerful and dangerous Category 4 storm, bore down on Cuba Sunday with sustained winds of near 135 mph, meteorologists said. As of 5 a.m. Sunday, Ike was located 65 miles east of the Bahamas' Great Inagua ...

Richmond woman will sing anthem at Eldora - Palladium-Item
Steve Casebolt will be on the track Saturday night, seeking to win the World 100 at Eldora Speedway. Fellow Richmond resident Tracey Jellison will be on the track, too. But she's no racer. She will sing the National Anthem before the $41,000-to-win ...

Home prices, sales still on downgrade - Baltimore Sun
For anyone looking to buy or sell a home, last month was more of the same: Average sales prices in the Baltimore metro area continued to drop as the number of houses changing hands plummeted. The average price in the area - Baltimore City and the ...

Surviving a foreclosure cushioned by planning - Seattle Post Intelligencer
These days, record-breaking foreclosure statistics are coming out with numbing frequency. But what happens to the thousands of families after their personal financial disaster is added to the mounting national count? Unfortunately, once a foreclosure ...

Report: Gov't may soon back Fannie, Freddie - Salon
Sep 5th, 2008 | WASHINGTON -- The government may soon step in to provide a financial boost to mortgage finance companies Fannie Mae and Freddie Mac, the Wall Street Journal reported late Friday. The paper said an announcement "could come as soon as ...

LIFE AFTER FORECLOSURE: Tips to help former homeowners get on with ... - Monterey County Herald
These days, record-breaking foreclosure statistics are coming out with numbing frequency. But what happens to the thousands of families after their personal financial disaster is added to the mounting national count? Unfortunately, once a foreclosure ...

Baltimore Has Poe; Philadelphia Wants Him - Herald Tribune
BALTIMORE — Edgar Allan Poe never lived in one city for long, and ever since he died and was buried here in 1849 this city has claimed him as its own. Jessica Kourkounis for The New York Times Edgar Allan Poe, master of the macabre and a man of ...

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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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