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News about Mortgages:
Insured mortgage defaults top 80,000 in October - ReutersNEW YORK (Reuters) - Defaults on privately insured U.S. mortgages rose 35 percent in October, and topped 80,000 for the first time, as the troubled economy caused more homeowners to fall behind on payments. The Mortgage Insurance Cos of America on ...
US insured mortgage defaults top 80,000 in October - ForbesNEW YORK, Dec 1 (Reuters) - Defaults on privately insured U.S. mortgages rose 35 percent in October, and topped 80,000 for the first time, as the troubled economy caused more homeowners to fall behind on payments. The Mortgage Insurance Cos of ...
Today's Mortgage Terms starting with E
Equity: The difference between the current market value of a property and the total debt outstanding against the property.
Escrow: A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.
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