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News about Mortgages:
Join the conversation! - Daily News-RecordHARRISONBURG — Area home sales plunged 35.4 percent in September, while home prices softened 4.3 percent that month, according to the Virginia Association of Realtors. Nationally, the sales of existing homes were off 8 percent in September ...
Foreclosures on rise in N.H., nationally - Portsmouth HeraldThe number of home foreclosures in Rockingham County are increasing, following the national trend. In the county, the number of foreclosures in September were 33, compared to 19 in September a year ago, according to information released by Real Data ...
Shelter houses pets homeless due to foreclosure - Eagle-TribuneSALEM - The little gray cat with white marking on her face and ruff sat up like a princess. Watching all of the bustle inside Kitty City, the cat still wore her collar, with a green bell and a confident expression that she belongs. But the cat doesn ...
Triangle voters see no clear winner - Raleigh News & ObserverStory Tools "There's so much good about both of them. I still have from 1992 a 'Hillary Clinton Fan Club' button. ... [Obama] has an ability to put things in a broad perspective and to rise above things, which is very unusual. ... I think he's going ...
Economic issues loom large in 13th - Raleigh News & ObserverFranklinton man runs against Miller WASHINGTON - Derald Hafner is a busy man. Between the machine shop he is trying to start and the fledgling organic farm he's working on, the former college economics major says he is working 12-hour days and barely ...

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Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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