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News about Mortgages:
Holiday sales down, economy sinking deeper into recession - Lubbock Avalanche-JournalWASHINGTON - The country's economic picture has darkened further as Americans hunkered down heading into the holidays, forcing retailers to ring up fewer sales and factories to cut back on production. The Federal Reserve's new snapshot of business ...
Treasury weighs forcing down mortgage rates - Buffalo NewsWASHINGTON — The Treasury Department is strongly considering a plan to intervene directly into the mortgage industry to dramatically push down rates and stimulate the moribund housing market, according to sources familiar with the proposal. Under ...
Lifeline for families facing mortgage meltdown - yorkshirepostHOME owners facing repossession as a result of the recession will be given a two-year mortgage interest holiday so they can keep their house. The move unveiled by Gordon Brown yesterday is aimed at middle-class families who fear being thrown out of ...
Protect yourself and your property - New York Daily NewsIt took 90 minutes to 'steal' the Empire State Building News probe has prosecutors urging change You own a house - but we're taking it Dead man gets mortgage worth whopping $533G There's no foolproof way to stop someone from stealing your property ...
The Round-Up: Thursday - New York ObserverMan who attempted to parachute from the top of the Empire State Building in 2006 is charged with reckless endangerment. [NY Times] Among those at last night’s Christmas tree lighting ceremony at Rockefeller Center were Hurricane Katrina victims ...
Bernanke: more action needed to cut foreclosures - Buffalo NewsFederal Reserve Chairman Ben Bernanke called on the government Thursday to ramp up efforts to stem soaring home foreclosures, which are feeding into the country's deep economic troubles. Although a flurry of actions have been taken to ease the ...
'Our hearts are breaking' as arson site demolished - Detroit Free PressNearly 100 firefighters Wednesday watched a crane smash to pieces the site of a deadly arson that is now being investigated as a homicide and was the site of a previous fire. Arson investigators and Detroit police homicide detectives interviewed the ...
Police detain possible serial rapist suspect in Puerto Rico - Caribbean Net NewsSAN JUAN, Puerto Rico: Police authorities are currently investigating if a man who works at a mortgage bank and who was detained Tuesday evening in Río Piedras is the serial rapist that has assaulted at least four University of Puerto Rico students ...
A Fannie-Freddie Fix - Washington PostIn Lawrence Summers, the president-elect has found the right person to reform the mortgage giants. IT LOOKS like Lawrence Summers will be the economic ideas man inside the Obama White House . As a former Treasury secretary and Harvard president, he ...
Tallian eyes mortgage bill - Post-TribuneA local legislator is taking aim at the mortgage crisis with a bill she hopes will give Indiana homeowners the tools to keep their homes. State Sen. Karen Tallian, D-Portage, is working on legislation to help people having trouble with monthly ...
Today's Mortgage Terms starting with L
Lender: The bank, mortgage company or mortgage broker providing the loan.
Loan Application: A statement of personal and financial information needed to apply for a loan.
Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
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