Cleveland Mortgage Rates and Information Online from competing Lenders

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Cleveland congressman opposes bank merger - KESQ News
CLEVELAND (AP) - Rep. Dennis Kucinich says he sent a letter to the vice president of the Federal Reserve Bank of Cleveland opposing the acquisition of National City Corp. by Pittsburgh-based PNC Bank. The Cleveland Democrat on Tuesday asked the ...

Cleveland congressman opposes bank merger - KESQ News
CLEVELAND (AP) - Rep. Dennis Kucinich says he sent a letter to the vice president of the Federal Reserve Bank of Cleveland opposing the acquisition of National City Corp. by Pittsburgh-based PNC Bank. The Cleveland Democrat on Tuesday asked the ...

NEWS BRIEFS - Columbus Dispatch
Rates on 30-year mortgages plunged this week to the lowest level since January after the government launched a sweeping new effort to aid the U.S. housing market. Mortgage finance giant Freddie Mac reported yesterday that average rates on 30-year ...

Congressman Opposes PNC, Nat City Merger - Street.Com
CLEVELAND -- Rep. Dennis Kucinich says he sent a letter to the vice president of the Federal Reserve Bank of Cleveland opposing the acquisition of National City ( NCC Quote - Cramer on NCC - Stock Picks ) by Pittsburgh-based PNC Bank. The Cleveland ...

Settlement bars lender from Ohio - Cincinnati.com
Ohio Attorney General Nancy Rogers announced the agreement Wednesday with New Century Financial Corporation of Irvine, Calif. The state had sued the company last year in Cleveland over alleged shoddy mortgage-lending practices. Nearly 400 borrowers ...

Legion Post faces foreclosure - Hudson Hub-Times
Hudson -- A Florida company filed a foreclosure complaint in Summit County Common Pleas Court Nov. 21 against Lee Bishop American Legion Post 464, alleging the group is behind $587,356 in mortgage payments, including principal and late fees. Carrie ...

Foreclosure complaint filed against Legion post - Hudson Hub-Times
Hudson " A Florida company filed a foreclosure complaint in Summit County Common Pleas Court Nov. 21 against Lee Bishop American Legion Post 464, alleging the group is behind $587,356 in mortgage payments, including principal and late fees. Carrie ...

Ohio wins court settlement against mortgage lender - Zanesville Times Recorder
COLUMBUS (AP) - A bankrupt subprime lender accused of shoddy practices has been barred from accepting mortgage applications in Ohio, state Attorney General Nancy Rogers announced Wednesday. The agreement with New Century Financial Corp. of Irvine ...

Dec. 23 vote on Nat City/PNC deal - Cincinnati.com
CLEVELAND - Shareholders of National City Corp. and PNC Financial Services Group Inc. will get a chance to vote on the fate of National City at separate meetings scheduled for next month. Cleveland-based National City disclosed plans for the Dec. 23 ...

Bernanke warns rate cuts can only do so much - Cleveland Plain Dealer
Washington- Federal Reserve Chairman Ben Bernanke said Monday that further interest-rate cuts are "certainly feasible," but he warned there are limits to how much such action would revive an economy likely to stay weak well into next year. The Fed's ...

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Today's Mortgage Terms starting with P

  • Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
  • Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
  • Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
  • Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
  • Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
  • Principal: It is the amount of money borrowed or owed, excluding interest.
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