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Today's Mortgage Terms starting with E

Equity:

The difference between the current market value of a property and the total debt outstanding against the property.

Escrow:

A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.

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Stanislaus mortgage loans news:
Financial News
Home values plunge again - Modesto Bee
Home sales prices took another tumble in October, as the three-year slide in home values continued. Stanislaus County homes sold for a median $161,500 last month, which was $17,500 below September. Home prices have dropped a staggering 59.2 percent ...

Fannie Mae, Freddie Mac halting foreclosures - Modesto Bee
WASHINGTON — Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures for about 16,000 households during the holiday season. The two companies said Thursday that they will halt foreclosure sales between Nov. 26 and Jan. 9 ...

Home prices a first-time buyer's dream - Modesto Bee
At least that's great news for people buying homes. New statistics show home affordability has soared in the Northern San Joaquin Valley as plummeting prices enable more families to attain the American dream. Stanislaus, Merced and San Joaquin ...

Valley home foreclosures dip in September - Modesto Bee
Stanislaus County -- 758 properties with loan values of nearly $251.4 million were foreclosed; 477 properties received notices of default; 566 properties received notices of trustee sale. San Joaquin County -- 1,033 properties with loan values of ...

Rural communities hit hard by foreclosures, too; farms fall under the ... - AG Weekly
MERCED, Calif. - The end came in a blink outside the Merced County courthouse. Only six people showed up for the foreclosure auction, Janice Pimentel and her son Nick included. By chance, the Pimentels’ dairy farm was the first property offered ...

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