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Home loans are still available locally - Staunton News Leader
Home loans are still available locallyStaunton News Leader, VA - 8 hours agoLynn Wagner, president of the Greater Augusta Association of Realtors encompassing Staunton, Waynesboro and Augusta County, said she has noticed an increase ...

Local People - Staunton News Leader
Local PeopleStaunton News Leader, VA - Oct 9, 2008He recently was a senior mortgage officer with Primary Residential Mortgage in Waynesboro. A 1969 graduate of Virginia Commonwealth University, ...

Homeowner help: HUD-certified advisers, more refinancing available - Modesto Bee
Modesto BeeHomeowner help: HUD-certified advisers, more refinancing availableModesto Bee, CA - Oct 10, 2008A foreclosure property on Waynesboro Drive in Ceres is seen in September. Inset left, a foreclosure prevention workshop in March drew long lines of people. ...

Blackburn against bailout - Jackson Sun
Blackburn against bailoutJackson Sun, TN - Oct 9, 2008"We have some who have some mortgage issues and some who have some credit issues," she said. "We're watching it all very, very closely. ...

Heerschap joins Peace Corps - Staunton News Leader
Heerschap joins Peace CorpsStaunton News Leader, VA - Sep 25, 2008WAYNESBORO — Tauna Hinchee from The Mortgage Centre Inc. has a new location inside Bookkeeping and Management Systems Inc., located at 230 S. Wayne Ave. ...

Wall Street rumblings ripple in Waynesboro - News Virginian
News VirginianWall Street rumblings ripple in WaynesboroNews Virginian, VA - Sep 26, 2008Fears over bank runs swirled as lawmakers debated a proposed $700-billion federal bailout for financial institutions holding distressed mortgage securities. ...

Loan officer opens new location - Staunton News Leader
Loan officer opens new locationStaunton News Leader, VA - Sep 24, 2008WAYNESBORO — Tauna Hinchee from The Mortgage Centre has a new location inside Bookkeeping and Management Systems at 230 S. Wayne Ave. ...

Small Businesses React to Economy - WHSV
Small Businesses React to EconomyWHSV, VA - Sep 30, 2008A number of small business owners in downtown Waynesboro say they've seen first hand what this financial crisis on wall street is doing.... keeping ...

Financial fallout - News Virginian
Financial falloutNews Virginian, VA - Sep 19, 2008By Bob Stuart Terry Trask, of Waynesboro, is among anxious watchers around the globe as federal leaders discuss the purchase of billions of dollars in bad ...

Mail Call/You Said It - Hagerstown Morning Herald
Mail Call/You Said ItHagerstown Morning Herald, MD - Oct 2, 2008Waynesboro, Pa. "Could somebody tell me where I could dispose of a PC monitor?" - Hagerstown "I would just like to ask who's gonna bail me out, ...

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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.

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