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News about Mortgages:
1 in 4 homes 'underwater' - Santa Rosa Press Democrat1 in 4 homes 'underwater'Santa Rosa Press Democrat, CA - Nov 13, 2008... County owe more on their mortgage than the home is worth, according to a study released Wednesday by Zillow.com, a real estate Web site. Charles Catlett ...
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Today's Mortgage Terms starting with J
Jumbo Loan: A mortgage over the $300,700 limit established by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. A jumbo mortgage tend to carry a higher interest rate than a conventional mortgage.
Junior Mortgage: A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid down first.
View all Terms