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Bush signs off on commemorative civil rights coin - Boston GlobeWASHINGTON— President George W. Bush has signed legislation to mint a commemorative silver dollar marking the 50th anniversary of the Civil Rights Act. Sponsors of the measure include President-elect Barack Obama, and Rep. John Lewis, a veteran of ...
Jury awaits instructions in Willan mortgage-fraud trial - Akron Beacon JournalThe evidentiary phase of the trial of former Evergreen Corp. President David B. Willan ended with the jury being sent home this afternoon. The judge and lawyers from both sides continued working on instructions regarding the law. Common Pleas Judge ...
Evergreen defense rests, jury sent home - Akron Beacon JournalThe evidence phase of the Summit County trial of former Evergreen Corp. President David B. Willan ended Monday afternoon, with the jury being sent home for the day. Afterward, the judge and lawyers from both sides worked on instructions for the jury ...
Check Services - Commodity OnlineOne quarter of a million US private sector jobs (the most in seven years) were lost in November as the economic downturn accelerated. Add the ISM's November non-manufacturing sector record shrinkage figures to that bit of news, and you get the ...
Developing world takes West to task over crisis - Reuters AfricaDOHA (Reuters) - Developing nations at a U.N. aid summit turned the tables on wealthy Western powers, blaming them for bringing financial ruin to their doorstep and demanding a greater voice in global financial institutions. The meeting in Qatar ...
Britain to host G-20 meeting in April - Miami HeraldLONDON -- Leaders of 20 of the world's industrialized and emerging economies will meet in London in April to check their progress on tackling the global financial crisis, British Prime Minister Gordon Brown said Wednesday. Brown told the House of ...
Govt expects significant rate cut - ONE NewsThe government expects Reserve Bank governor Alan Bollard to announce another "significant" interest rate cut on Thursday, Prime Minister John Key says. Bollard cut the official cash rate from 7.5% to 6.5% on October 24, which had the effect of ...
Where Will Baby Boomers' Savings Go? - Seekingalpha.comAs 78 million baby boomers head for retirement, they will be faced with the challenge of saving like they’ve never saved before. Where are all those savings going to go? In a recently aired Taipan Publishing Group web summit, Zach Scheidt and I ...
Govt expecting 'significant' rate cut - National Business ReviewThe Government expects Reserve Bank governor Alan Bollard to announce another "significant" interest rate cut on Thursday, Prime Minister John Key says. Dr Bollard cut the official cash rate from 7.5 percent to 6.5 percent on October 24, which had ...
Doublespeak and American Socialism - Family Security Matters“Mortgage Rates Fall as U.S. Expands Rescue” was the page-one headline in the November 26th Wall Street Journal . The story concerned a promise from federal officials to “pump” another $800 billion into the economy, bringing the grand total ...
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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