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News about Mortgages:
In midst of housing crisis, here's a vote for doing nothing - Tampabay.comIn midst of housing crisis, here's a vote for doing nothingTampabay.com, FL - 5 hours agoFishkind's computer model forecasts the following price rises by county through 2012: Hernando, 9 percent; Pinellas, 11 percent; Hillsborough, 14 percent; ...
DeSoto residential building permits hit 10-year low - Memphis Commercial AppealDeSoto residential building permits hit 10-year lowMemphis Commercial Appeal, TN - Jan 6, 2009Olive Branch issued 123, Hernando issued 74, Horn Lake issued 26 and Walls issued two. The most residential single-family building permits issued since 1999 ...
Hernando's Parade of Homes showcase postponed for now - Tampabay.comHernando's Parade of Homes showcase postponed for nowTampabay.com, FL - Dec 19, 2008With consumer confidence still plummeting in the wake of a nationwide mortgage crisis, even tried-and-true marketing efforts such as the Parade of Homes ...
Habitat's first green home is ready - Tampabay.comHabitat's first green home is readyTampabay.com, FL - Dec 14, 2008Fremlin points to the success Hernando Habitat for Humanity has had in building green. "They do a lot of green homes," Fremlin said. ...
Affordable housing already available - Tampabay.comAffordable housing already availableTampabay.com, FL - Dec 21, 2008In typical fashion, his recommendation fell on deaf ears with the Hernando County Commission because it didn't involve building. ...
Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
View all Terms