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Global car sales slide shows auto crisis worsening - International Herald Tribune
The global automotive industry faced a fresh wave of bad news on Monday, as data showed drops in Swedish, Japanese and South Korean November car sales, with figures for France, Spain and Italy due out later in the day. Automakers are cutting ...

Banks tipped to pass on interest rate cuts - News.com.au
THE Federal Government is confident banks will pass on today's expected interest rate cut, tipped to be three-quarters of a percentage point. JP Morgan economist Helen Kevans, who forecast a 75 basis point cut, said the Reserve Bank was concerned ...

Empty Stockings - Independent Record
This Empty Stockings feature is printed every year on the Sunday after Thanksgiving to present the Wish and Need lists of Helena area nonprofit organizations that assist families, individuals and the pets they love in various ways throughout the year ...

We've teamed up to get child support from the same bloke - The Sun
Fighting together ... Caroline Haggar and, right, Samantha Judd DESPERATE Samantha Judd and Caroline Haggar have formed an unlikely alliance to make an absent dad pay up for his children. Full-time mums Samantha, 38, and Caroline, 34, joined forces ...

East Haddam - Hartford Courant
The Rathbun Free Memorial Library will host a display and silent auction of donated Christmas trees, wreaths and holiday exhibits. All proceeds from the event — organized by the East Haddam Community Lions — are to benefit local emergency ...

Paying it forward: Veteran finds time to help others - The State
Thomas Meaders eagerly makes the trip to Harvest Hope Food Bank three times each week. When the legally blind Vietnam veteran was completing an associate of arts degree at Midlands Technical College two years ago, several professors went the extra ...

Financial crisis forcing more women into brothels - Sydney Morning Herald
THE number of prostitutes in NSW is expected to increase by almost 10 per cent as tough economic conditions force more people - mainly women - into the legal and illegal sex industry. Incomes are also expected to fall by 5 per cent this year and by ...

Sorenstam falls, Lexus Cup tied at 3 - FOX News
SINGAPORE — Jeong Jang and Candie Kung beat Annika Sorenstam and Angela Stanford 3 and 2 on Friday to help Asia split the six opening alternate-shot matches in the Lexus Cup, Sorenstam's final LPGA Tour-sanctioned event before she retires ...

Economy continued to grow in Sept qtr - West Online
Australia has extended its eight-year run of economic expansion, but only just. Real gross domestic product (GDP) rose by a slender 0.1 per cent in the September quarter, according to figures from the Australian Bureau of Statistics (ABS). It was the ...

Another big rate cut tipped for December - Skynews.com
Official interest rates are expected to be cut by another 75 basis points, after a fall in a key inflation measure. All 18 economists surveyed by AAP expect the Reserve Bank of Australia (RBA) to cut interest rates on Tuesday and 12 are tipping a ...

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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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