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News about Mortgages:
Foreclosures up 25 percent: RealtyTrac - CNBCNEW YORK - Foreclosure activity in October rose 25 percent from a year earlier, although filings in California fell by double-digit percentage points for the second consecutive month due to a state law slowing the foreclosure process, according to a ...
If you're losing a job, help is just a click away - Everett HeraldAs the economic news gets darker, worry becomes a unwelcome companion. When you're not sure if you'll still have a job next month, other concerns start to pile up -- like how (or whether) you'll find a new one, or how the mortgage, rent or other ...
Credit-Card Users Face Higher Fees, Rates - Wall Street JournalThe Federal Reserve has slashed its benchmark rate to 1%, yet many people are getting hit with higher rates and fees on their credit cards. Normally, when the Fed cuts rates, credit-card issuers follow suit, resulting in lower monthly payments for ...
Foreclosures rise quickly in Snohomish County - Everett HeraldPublished: Friday, September 12, 2008 Foreclosures rise quickly in Snohomish County The national mortgage crisis catches up with homeowners across the state. By Eric Fetters, Herald Writer Snohomish County no longer seems immune from the wave of ...
2007 a good year for Seattle Genetics - Everett HeraldSeattle Genetics' investors and employees can celebrate a big gain in the company's stock price during the past year, but 2007 was one to forget for most locally based public companies. Only three of the 13 Snohomish County companies traded on major ...
Eight months after arson, Street of Dreams is a ghost town - Seattle TimesEight months after arson, Street of Dreams is a ghost town Nearly eight months after someone set fire to four Seattle Street of Dreams houses in a fledgling Snohomish County development, the builders of the destroyed million-dollar homes are dealing ...
Lake Stevens woman pleads guilty to manslaughter - Seattle Post IntelligencerEVERETT -- A Lake Stevens woman pleaded guilty to manslaughter in the death of her friend from a drug overdose. The 24-year-old woman, Mallori Smith, faces up to three years in prison when she is sentenced. Her plea Monday in Snohomish County ...
Help for Freddie, Fannie loans on the way - Seattle Post IntelligencerCall it the mother of all mortgage modifications. Federal officials announced a plan Friday to rework threatened home loans owned or guaranteed by mortgage giants Fannie Mae and Freddie Mac. "Foreclosures hurt families, their neighbors, whole ...
Heavy Rain Causes Flooding, Evacuations in Western Washington - FOX NewsNov. 12: Jerry Plymire steps over sandbags after helping to prepare the apartment building that he owns for expected floodwaters. SEATTLE — A small dam failed and caused minor flooding in Cosmopolis as heavy rain resulted in flood warnings ...
More help for some troubled homeowners - Seattle TimesWASHINGTON — The government and the mortgage industry are launching the most sweeping effort yet to help troubled homeowners by speeding up the process for renegotiating hundreds of thousands of delinquent loans held by Fannie Mae and Freddie Mac ...
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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