Lester Mortgage Rates and Information Online from competing Lenders

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Almer E. Finnerty and Mary Kathleen Finnerty to Deborah J. Finnerty of Burlington for property in Burlington Borough for $10,000. Lasalle National Bank, EMC Mortgage Corp, POA, Lasalle bank National Association to Robin L. Farley of Canton for ...

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Obama urges action on economy - Knoxville News Sentinel
CHICAGO - Citing an "economic crisis of historic proportions," President-elect Barack Obama urged Congress to pass a costly, job-creating stimulus bill as quickly as possible, a rare pre-inaugural call to action delivered as the outgoing Bush ...

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Please register to gain free access to WSJ tools. An account already exists for the email address entered. In Michigan, embryonic stem cell research is more controversial than medical marijuana — but, ultimately, Michiganders approve of both ...

Jay Bookman - Atlanta Journal Constitution
The entry titled "Denying reality doesn't change reality," and any of the comments about it. Through the early and middle parts of the political season, right up until the September collapse on Wall Street, the Republicans were still claiming that ...

THE ECONOMY IN TURMOIL - San Francisco Gate
Americans binge on credit in a mania of speculation and consumption until the debt-fueled bubble bursts. Wall Street has a meltdown, the mania turns to hysteria, and the economy goes haywire. SF Gate polls are strictly surveys of those who choose to ...

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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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