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News about Mortgages:
NOTICE OF FORECLOSURE SALES - Hastings Star GazetteTHAT no action or proceeding has been instituted at law to recover the debt secured by said mortgage, or any part thereof; that there has been compliance, if required, with all pre-foreclosure notice and acceleration requirements of said mortgage ...
Motion detector helps owner foil theft - Buffalo NewsLOCKPORT — A motion detector alerted a Gardenwood Drive resident to two men attempting to steal items out of his car at about 1 a. m. Wednesday, Niagara County sheriff’s deputies said. The resident said the two men fled from the crime scene, in ...
Business briefs - Chippewa HeraldPremium Waters, Inc. is one of the first bottled water companies to receive Safe Quality Food (SQF) Code 2000 Certification, and on Oct. 16, the Chippewa Falls production facility became the first private label water bottler plant in the U.S. to gain ...
Scent Sales Slip ...Again - HappiIt was another year of steady launches and a few high notes, but by the numbers, 2007 was just so-so, according to analysts tracking the fine fragrance market. According to Port Washington, NY-based NPD Group, prestige fragrance sales fell one ...
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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