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Some parts of U.S. escape housing mess - USA TodayThere are no stretches of empty homes in new subdivisions. Foreclosure signs on front lawns are few. Local banks are still lending. In 17 locations around the USA, many made up of small cities surrounded by large rural areas, 50% or more of the ...
Top News - USA TODAY VideoRon Crabtree, 64, and his wife Dorothy, 61, stand in front of their historic 1922 home in Bluefield, W. Va. The coal country town has not felt the mortagage crisis as severely as other parts of the country with 57% of its homeowners mortgage-free
McCain supporters heckle early voters - The Washington TimesPRINCETON, W.V. — Over the last few days I've been through Southwest Virginia, down in North Carolina and now back up into the mountains on the West Virginia side near Bluefield for some stories about the political climate in red states. Sen ...
McCain tussles with Palin over whipping up a mob mentality - Times OnlineWith his electoral prospects fading by the day, Senator John McCain has fallen out with his vice-presidential running mate about the direction of his White House campaign. McCain has become alarmed about the fury unleashed by Sarah Palin, the moose ...
Two Cents - Citizen OnlineIt's election time and don't forget our Senator, Mike Nozzolio. We all know how much he's helped everyone and we can't afford to lose him. Having heated my home with a wood pellet stove for 10-plus years, I have never seen such a shortage of wood ...
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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