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News about Mortgages:
Lenders consider payment plans - Chicago Sun-TimesLenders consider payment plansChicago Sun-Times, United States - 3 hours ago"We have noticed that many mortgage companies are extending the redemption period for repayment, in some cases up to 9 to 12 months, giving owners the ...
Appeals court reverses rulings on junk faxes - KTENAppeals court reverses rulings on junk faxesKTEN, TX - Jan 7, 2009AP - January 7, 2009 6:35 PM ET OKLAHOMA CITY (AP) - The Oklahoma Court of Civil Appeals has overturned two district court rulings dismissing lawsuits filed ...
Another Year In The History Books - Sidney Sun TelegraphAnother Year In The History BooksSidney Sun Telegraph, NE - Jan 6, 20098 publication of The Sun-Telegraph. A Sidney woman recently filed a $1 million claim against the city of Sidney asserting negligence by a former police ...
Case-Shiller Index Shows Sharpest Home-Price Declines in Sun Belt - Wall Street JournalCase-Shiller Index Shows Sharpest Home-Price Declines in Sun BeltWall Street Journal - Dec 30, 2008They also are pressing to allow bankruptcy judges to change homeowners' mortgage terms to prevent foreclosures. Democratic leaders have maintained that they ...
Hong Kong shares weaker as China telco, bank falls outweigh local ... - ForbesHong Kong shares weaker as China telco, bank falls outweigh local ...Forbes, NY - Jan 6, 2009Local property firms were up on expectations of a pick-up in home sales as a cut in mortgage interest rates by a local bank may prompt similar moves from ...
NYC real estate defies gravity - so far - CNNMoney.comNYC real estate defies gravity - so farCNNMoney.com - Jan 6, 2009Reports released Tuesday by four of the city's biggest real estate agencies showed that the average price of condos and co-ops sold during the three months ...
Operation Fresh Start Homes Sitting In Idle Market - WISCOperation Fresh Start Homes Sitting In Idle MarketWISC, WI - Jan 6, 2009Usually homes turn over within a few months, but the idle housing market is causing OFS homes to sit for months, piling on mortgage after mortgage. ...
Nationwide ... building society saving rates hit 7 year low - The SunThe SunNationwide ... building society saving rates hit 7 year lowThe Sun, UK - Dec 31, 2008David Black, banking analyst at consultancy DEFAQTO, told Sun City: “What’s happening is absolutely horrendous for savers. “A lot of rates are now below 1 ...
Sound Off! (Jan. 8) - Las Cruces Sun-NewsSound Off! (Jan. 8)Las Cruces Sun-News, NM - Jan 7, 2009The 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 ...
Top 5: PDX office market relatively stable in Q4 - The Oregonian - OregonLive.comTop 5: PDX office market relatively stable in Q4The Oregonian - OregonLive.com, OR - Jan 7, 2009Mortgage App Volume Falls, But Household Apps Rise: From HousingWire: Application volume fell 8.2 percent, seasonally-adjusted, according to data released ...
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