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Reading service in need of home - Akron Beacon JournalAfter years of financial setbacks and legal problems, the local reading service for the blind is facing what may be its biggest hurdle. The not-for-profit organization is poised to be evicted in the next few weeks from its home in a former roller ...
School for the blind starts visionary newsroom - Newark Star-LedgerEd Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...
Tri-City mortgage market grows with FHA-backed loans - Tri-City HeraldMike Martin recently refinanced out of an adjustable rate mortgage and into an Federal Housing Administration loan for his Richland home. Though the real estate market has slowed in the Tri-Cities, the number of FHA-backed loans has grown. Getting ...
Richland County Foundation Awards Grants - WMFDThe Richland County Foundation Board of Trustees granted more than $103,000 for community needs during the board's regular October meeting. The largest amount, $35,000, went to Catholic Charities for emergency services to assist struggling residents ...
Property seized in Richland County standoff is sold - La Crosse TribuneAn 18-acre parcel in rural Richland County that was the site of a standoff and shootout last spring between a recalcitrant property taxpayer and dozens of deputies and police has been sold by the county for back taxes and, possibly, to pay bills for ...
Obama says McCain mortgage plan would reward bad behavior of lenders - WIS-TVSTATEWIDE (WIS) - Polls are officially closed in the first presidential primary in the south. Voters faced several obstacles en route to the polls in the state's Republican primary, including rain, snow and a few voting machine problems. In one ...
Food donations are dwindling as the need soars in Tarrant County - Fort Worth Star-TelegramARLINGTON — For the first time in 31 years, Arlington Charities had to turn away needy families Wednesday because it had run out of food. Another shipment arrived in time for Thursday, but for one day it hung a sign on the door: "Temporarily out of ...
Columbia Bancorp Reports Third Quarter 2008 Financial Results - CNBCTHE DALLES, Ore., Oct 31, 2008 /PRNewswire-FirstCall via COMTEX/ -- Columbia Bancorp (Nasdaq: CBBO), the bank holding company for Columbia River Bank, today announced its third quarter 2008 financial results. In response to the unprecedented economic ...
JUNE 2008 LAND TRANSFERS - Oskaloosa HeraldClifford and Kristine Swinscoe conveyed to Brian and Glenda Booy land in Oskaloosa for between $64,501 and $65,000, filed on June 2. Russell Aalsburg conveyed to Mark and Yvonne Mauer land in Eddyville for between $134,501 and $135,000, filed on June ...
China trade outpost may join Pabst site - Milwaukee Journal SentinelIt seems Milwaukee Bucks draft pick Yi Jianlian isn't the only hot Chinese import considering a move to Milwaukee. An office building, aimed at housing Chinese businesses that would sell their products to U.S. companies, has been proposed for a site ...
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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