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News about Mortgages:
Alleged embezzlers are getting younger every day - Wicked LocalAlleged embezzlers are getting younger every dayWicked Local, MA - 14 hours agoThat’s why were surprised to hear the story out of Malden this week of Gia Desantis Cox, who at the tender age of 26 is accused of embezzling half a million ...
House leaders boast of local banks’ health - Burlington UnionHouse leaders boast of local banks’ healthBurlington Union, MA - Nov 14, 2008Paul Donato, D-Malden. Other lawmakers watched from the sidelines, with several remarking beforehand how curious they were to see what the speaker had to ...
Consumers let cash flow - Boston Globe (registration)Consumers let cash flowBoston Globe (registration), United States - Nov 5, 2008"I'm hopeful again with Obama," said Cindy Rubinski, 32, from Malden, while shopping for a present for her son at KB Toys at the Galleria. ...
John Keeley Buys The Hanover Insurance Group Inc., Webster ... - GuruFocus.comJohn Keeley Buys The Hanover Insurance Group Inc., Webster ...GuruFocus.com, TX - Nov 10, 2008Other branch offices are located in Andover Beverly Boston Chelsea Danvers Malden Middleton Peabody Reading Revere Salem Saugus Wilmington and Woburn ...
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.
View all Terms