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.

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Lauderdale home equity loans news:

U.S. Foreclosure Filings Rose as Home Prices Fell (Update1) - Bloomberg
Nov. 13 (Bloomberg) -- More than a quarter million U.S. households received a foreclosure filing in October even as state laws designed to protect property owners from losing their homes slowed the pace of defaults, RealtyTrac Inc. said. A total of ...

Housing 'boom' gone after price drop - Herald Tribune
A curious thing happened in early September. After a long time in the darkness, the Southwest Florida real estate market finally began to show signs of life. But then came the collapse of Lehman Brothers, the salvaging of American International Group ...

Times get tougher for higher education - Orlando Sentinel
The past year has been rough for many Florida colleges and universities as the sagging economy put the squeeze on budgets -- and it looks as if the worst is yet to come. At public universities, more state-mandated cuts are likely before the end of ...

Downturn Drags More Consumers Into Bankruptcy - Blueridgenow.com
The economy’s deep troubles are pushing a growing number of already struggling consumers into bankruptcy, often with far more debt than those who filed in previous downturns. Plummeting home values, dwindling incomes and the near disappearance of ...

How to Pay for Home Remodeling - Smart Money
ANSWER: Having some equity in your home may sound like a quaint notion these days, but it still makes the best financial sense. Plus, in today's rocky housing market, it may even be required for borrowers with less-than-perfect credit. "If you can't ...

Some Bankruptcy Basics - Wall Street Journal
American families are now going bankrupt at the rate of 22,000 a week. It is quickly becoming a part of American life. So far this year nearly three-quarters of a million individuals and families have filed for court-approved bankruptcy, according to ...

US Regional Mall Vacancies Rose in Fourth Quarter: Reis - CNBC
Whether you're looking for a point-and-shoot or the top-of-the-crop pro DSLR, click ahead to see which models offer what you're looking for in a new camera. Vacancy rates at U.S. regional malls rose and rents fell during the fourth quarter due to ...

To cut losses, homeowners consider default - Miami Herald
More than four in 10 South Florida homeowners who bought in the last five years owe more on their mortgages than their homes are worth. For those who bought in 2006 -- the year prices peaked -- the situation is even worse. A startling 76 percent of ...

Next big worry: Credit cards - Delaware Online
For years, when the shopping bug bit, Americans were quick to pull out their credit cards, fulfill their desires and put off the financial pain for another day. All that is starting to change -- for better and for worse. As the financial crisis ...