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News about Mortgages:
Ameribank in W. Va. shut down; 12th bank failure of '08 - USA TodayWASHINGTON — Federal regulators have shut down Ameribank, a small bank in West Virginia, saying it overextended loans for the rehabilitation of distressed properties. It was the 12th failure this year of a federally insured bank. The Federal ...
Bank Failures in 2008 - CNBCSince the beginning of the credit crunch in August 2007, a total of 17 banks have closed their doors, according to the Federal Deposit Insurance Corporation. This year alone, 15 banks have gone under. Take a look at the failures of 2008 (in ...
Illinois, Michigan Banks Shut by Regulators; Toll Climbs to 15 - BloombergOct. 11 (Bloomberg) -- Illinois and Michigan banks with $123 million in deposits were closed by state regulators as tightening credit and a deepening real-estate slump pushes failures this year to 15, the most since 1993. Meridian Bank of Eldred ...
McCain to Letterman: 'I Screwed Up' - ABC News BlogsABC News' Jan Simmonds reports: " I screwed up, " Sen. John McCain, R-Ariz., told David Letterman this afternoon as he taped an appearance on Letterman's CBS program, " The Late Show, " explaining his cancellation a few weeks ago. McCain originally ...
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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