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News about Mortgages:
Business Notes - Centre ViewBusiness NotesCentre View, VA - 1 hour agoNorthern Virginia Community College (NOVA) and The Dulles Regional Chamber of Commerce are now enrolling qualified participants at many Northern Virginia ...
Pending home sales rose in November in Philadelphia area - Philadelphia InquirerPending home sales rose in November in Philadelphia areaPhiladelphia Inquirer, PA - Jan 7, 2009"Given that we are talking about November, when few financial institutions were willing to give mortgage loans, this drop was not a surprise," Naroff said. ...
Year in Review Part 2: 2009 an uncertain future - Novato AdvanceYear in Review Part 2: 2009 an uncertain futureNovato Advance, CA - 15 hours agoBy Paul Jones The economy got worse as 2008 progressed, with gas prices becoming consumers’ leading concern until the spectacular mortgage market collapse ...
Looking Back Part 2: 2008 ended on good note - Bellevue LeaderLooking Back Part 2: 2008 ended on good noteBellevue Leader, NE - Jan 7, 2009The bank already holds the mortgage on the property. Robert Clements, the bank's executive vice president, said the bank will put the property on the market ...
Limerick region braced for massive knock-on effect from crisis - Limerick LeaderLimerick region braced for massive knock-on effect from crisisLimerick Leader, Ireland - 15 hours agoMaria Kelly, CEO of the Limerick Chamber of Commerce, said the potential knock-on effect among ancillary companies who rely almost entirely on Dell for ...
Ten Cities For Job Growth In 2009 - ForbesTen Cities For Job Growth In 2009Forbes, NY - Jan 5, 2009A spokeswoman for the city's chamber of commerce adds that Madison is "historically recession proof," partly because it's the seat of state and county ...
Sound Off! (Jan. 8) - Las Cruces Sun-NewsSound Off! (Jan. 8)Las Cruces Sun-News, NM - 17 hours agoThe Federal Reserve(since 1913), and the big banks(since 1654), they seem to followthe samecycle as the "mortgage theives". It is interesting to note that ...
Homeowners session scheduled Saturday - San Antonio ExpressHomeowners session scheduled SaturdaySan Antonio Express, TX - Jan 6, 2009The Texas Foreclosure Prevention Task Force says that more than half of those who fall behind on their mortgage payments never talk to their lender.
City clears streets - MirrorCity clears streetsMirror, MI - Jan 4, 2009The Canton Chamber of Commerce will host its first networking luncheon of the new year at 11 am, Wednesday, Jan. 14 at Summit on the Park. ...
Road to recovery: The 2009 outlook - Charleston Regional BusinessRoad to recovery: The 2009 outlookCharleston Regional Business, SC - Jan 6, 2009A turnaround in the housing market will require stability in the mortgage market, including more access to credit for consumers. Tim Allen, director of the ...
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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