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News about Mortgages:
Shy, rich farmers thrust in spotlight as players in US Sugar deal - TMCnetShy, rich farmers thrust in spotlight as players in US Sugar dealTMCnet - Dec 30, 2008The decision to sell comes at a time when the company is shouldering a $700 million mortgage. Its last sugar crop fell short of estimates. ...
Browse by week posted: - The Plain Dealer - cleveland.comThe Plain Dealer - cleveland.comBrowse by week posted:The Plain Dealer - cleveland.com, OH - Dec 28, 2008April 8: Petty Officer 2nd Class Michael Monsoor, a 25-year-old Navy SEAL from Garden Grove, Calif., who threw himself on a grenade to save his comrades in ...
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.
View all Terms