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News about Mortgages:
‘Fire sale’ housing mostly in poorer areas - Boston Herald‘Fire sale’ housing mostly in poorer areasBoston Herald, United States - Sep 15, 2008The happy new owner is paying a mere $300-a-month mortgage for what Burton called “decent property, very clean and basic.” A similar apartment in the same ...
Most Midwestern Bankers Opposed Lehman Bailout - Flathead BeaconMost Midwestern Bankers Opposed Lehman BailoutFlathead Beacon, MT - Sep 19, 2008"We are seeing big increases in operating expenses due to fuel and fertilizer prices," said Kathy Thuman, president of Farmers State Bank in Maywood, Neb. ...
Today's Mortgage Terms starting with D
Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
View all Terms