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News about Mortgages:
GMAC Financial Services laying off 5,000 - Inrich.comLender GMAC Financial Services said yesterday that it will close all 200 retail offices and lay off 5,000 employees. The job cuts are part of plan to reduce its mortgage lending and servicing because of the housing downturn. Virginians will be among ...
Air Transportation - Chicago TribuneA federal judge has refused to throw out part of a lawsuit accusing Northwest Airlines of discriminating against physically disabled passengers at Detroit Metropolitan Airport. U.S. District Judge George Steeh in Detroit ruled Tuesday that five... A ...
Latest News - dBusinessNews.comBAE SYSTEMS RECEIVES $10 MILLION U.S. GOVERNMENT CONTRACT FOR ARMORED COMMERCIAL VEHICLES CINCINNATI, Ohio – BAE Systems has received a $10 million ... IndustrialCOOP Launches Cable and Wire Manufacturers Directory and Buying Guide The industrial ...
HelloLender.com a Mortgage Lead Generation Company Exposes Why Filling ... - PRWebThe HelloLender.com "One Call One Lender" ™ concept was founded in early 2006 and started by a group of Mortgage Brokers and Consumers, with one goal in mind, creating a safer environment for loan officers to buy mortgage leads and for consumers to ...
Reassessments shock Franklin Co. residents - Roanoke TimesRelated Photo by Jeanna Duerscherl | The Roanoke Times William Broaddus stands in front of his lakeside home on Smith Mountain Lake. His said his real estate taxes have increased nearly 2,000 percent since 1974. He plans to appeal the latest ...

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Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
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