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No foreclosures on FHA mortgages in disaster zone - MSN MoneyCentralBATON ROUGE, La. (AP) - Some homeowners in Louisiana's disaster parishes are getting protection against foreclosure. Federal housing secretary Steve Preston announced on Friday a moratorium on foreclosures on homeowners with mortgages insured by the ...
1.6bn rescue package for home buyers will not work and may do harm ... - Times OnlineGordon Brown attempted to revive the flagging housing market - and his own political fortunes - yesterday with a £1.6 billion rescue package that included a surprise suspension of stamp duty, but experts said the move was merely “sticking plaster ...
Mortgage foreclosure moratorium issued - News-StarBATON ROUGE – Hurricane victims having problems paying their mortgages won’t have to worry about foreclosure during the next 90 days, says the nation’s top housing official. State Preston, head of the Department of Housing and Urban Development ...
Philip Richards steps down as RAB Capital chief executive - Times OnlineRAB Capital revealed yesterday that Philip Richards would be stepping down as chief executive, as the embattled hedge fund manager reels from a profit warning, a sliding share price and a collection of ill-fated investments, including Northern Rock ...
25th Leadership Anderson class is named - Anderson Independent-MailFounded in 1984, Leadership Anderson is comprised of men and women from all areas of expertise who are chosen based on their community involvement and personal achievements. Throughout the course of the program, participants will be encouraged to ...
Builders think they’ve found sweet spot - Dallas Business JournalRAISING ROOFS: Luxury home builder Greg Alford has found success in a sagging housing market by building in the upscale Preston Hollow neighborhood of Dallas and the city of Prosper. In a North Texas housing market where starts are off a third from ...
We cannot afford to fund pork - Anderson Independent-MailEconomists are predicting the economy will get much worse and that there will be a credit card crisis that will dwarf the mortgage and oil price crises. South Carolinians rank near the bottom in income, but 37th in state and local taxes. Unemployment ...
Canadians support government's handling of economy: Flaherty - Globe and MailDavid Hogg from Victoria, Canada writes: Mr. Flaherty and his cabinet colleagues are economic heroes and legends in their own tiny little minds. The biggest difference in the US economy and ours is reflected in the mortgage market and housing market ...
McCain's Annoying Little Fraud - Slate( Pierre, S.D .) McCain would like everyone to think his campaign imploded last summer because of his courageous support for the surge in Iraq : I fought for the right strategy and more troops in Iraq, when it wasn't a popular thing to do. And when ...
Louisiana Gov Jindal: Friday Morning Gustav Update - Bayou BuzzLouisiana Governor Bobby Jindal held a press conference Friday morning and discussed communications with the federal government to deal with loss of fisheries and damage to transportation needs. Jindal said he wanted emergency relief and is seeking a ...

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Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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