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News about Mortgages:
They fell for Madoff’s Scheme, so let them eat gruel - New EuropeThey fell for Madoff’s Scheme, so let them eat gruelNew Europe, Belgium - Dec 18, 2008Even Swiss banks, whose losses in the US-led sub-prime mortgage debacle that put the world into the Great Repression and Depression at the same time, ...
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Today's Mortgage Terms starting with E
Equity: The difference between the current market value of a property and the total debt outstanding against the property.
Escrow: A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.
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