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K.C. school embezzler sentenced - News-Leader.com
Kansas City -- The former board president of a Kansas City charter school has been sentenced to 18 months in federal prison without parole. Prosecutors say James Elliott Coleman also was ordered Friday to pay nearly $470,000 in restitution. The 60 ...

Kahley to lead First Southern mortgage division - Statesboro Herald
First Southern National Bank recently announced the promotion of Kelly Kahley to head of the Mortgage Division. She will lead the bank's business development efforts as well. Kahley's new duties include coordinating all efforts with First Southern's ...

Agents pick up extra business from foreign buyers - Everett Herald
Published: Sunday, November 23, 2008 Agents pick up extra business from foreign buyers Tom Kelly While housing analysts continue to paint a rather anxious and uncertain picture for residential property in the near future, one emerging source of ...

Millions owe more than homes are worth - Providence Journal
Mike and Linda Kelly at their Merced, Calif., home, in September. The house is now worth significantly less than the $300,000 balance that they owe. New York Times / PETER DASILVA Many Americans are discovering an unfortunate twist to the housing ...

Fight Blight: City hopes to turn tide against blight - Star-Press
Take for example the owner of a deteriorating South Mulberry Street home who told the city's Unsafe Building Hearing Authority this fall that he "got kind of roped into" a rehab project with his brother. Then his brother went to jail. "I got stuck ...

No job, bad mortgage - out of luck - CNN Money
NEW YORK (CNNMoney.com) -- All the foreclosure prevention plans announced to date will do little to help the next wave of delinquent homeowners, who can't make their monthly payments because they've lost their jobs. But something needs to be done for ...

Will voting on all tax increases fly here? - Wichita Eagle
Voters across the nation approved tax increases earlier this month to pay for projects ranging from high-speed rail networks to new schools to a mortgage program for veterans. New Sedgwick County commissioner Karl Peterjohn, a Republican, made voter ...

Brokers plan launch of own-branded mortgages - Independent
Share The Professional Insurance Brokers Association (PIBA), Ireland 's largest mortgage broker network, is looking to shake up the country's home-loans market this year by launching broker-branded, or 'white-labelled' products, in a bid to have ...

Nailing Down Futures: Foothills CDC helps low-income families in ... - Daily Times
On a cul-de-sac off Grandview Drive in Maryville, 10 families who never thought they would own a home see foundations, framing and construction crews hammering out their dreams one nail at a time. The families, eight of which are headed by single ...

Rent is too high - Northwest Herald
I am a single working mother who lives in McHenry County, and I would like to know why rent is so high in McHenry County? Don’t the homeowners of rental property know that if they keep the rent affordable, they would keep tenants longer? Why should ...

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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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