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Today's Mortgage Terms starting with P

Payment Cap:

A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.

Point:

A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.

Pre-Approval:

The process of calculating how much money a potential homebuyer could borrow.

Prepayment Penalty:

A lender's charge to the borrower for paying down the loan before the end of its term.

Pre-Qualification:

A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.

Principal:

It is the amount of money borrowed or owed, excluding interest.

View all Terms
Park home equity loans news:
Financial News
Banking crisis hitting home - Taunton Gazette
 The Wall Street banking crisis isn’t just affecting the big players. “There’s no good news,” said Edward E. Sousa, vice president of and commercial loan officer for Bridgewater Savings bank. And, he added, “It’s starting to hit home ...

Fitch Affirms FMC Real Estate CDO 2005-1; Assigns Outlooks - Businesswire.com
NEW YORK--( BUSINESS WIRE )--Fitch Ratings affirms and assigns Rating Outlooks to FMC Real Estate CDO 2005-1 Ltd. (FMC 2005-1) as follows: --$131,825,000 class A-1 at 'AAA'; Outlook Stable; --$43,941,000 class A-2 at 'AAA'; Outlook Stable; --$43,941 ...

The Next Subprime Crisis Looms - Der Spiegel
Joseph McCloskey, a former director of FHA's single-family asset management branch, says workers reviewing lender applications have had difficulty for years tracking whether executives of previously disciplined mortgage firms were applying for new ...

Boeing, Chiquita, Citigroup, Disney, Zions: U.S. Equity Movers - Bloomberg
Nov. 18 (Bloomberg) -- The following companies are having unusual price changes in U.S. trading . Stock symbols are in parentheses, and share prices are as of 11:40 a.m. in New York. Allied Irish Banks Plc American depositary receipts (AIB US ...

When you owe more than home is worth - Arizona Daily Star
One in four Tucson homeowners who bought during the last five years now owe more on their mortgages than their homes are worth, a troubling sign for the Old Pueblo's declining housing market and broader economy. A large chunk of those homeowners who ...

Lighthouse Capital Partners Invests $18 Million in Angie's List - dBusinessNews.com
Seven Corners Announces First Insurance Program for International Medical Tourism INDIANAPOLIS (Nov. 18, 2008) - Angie’s List ( www.angieslist.com ), the nation’s leading source for local service provider ratings, has added Menlo Park -based ...

Guevarra: Luxuries lost - San Diego Union-Tribune
They were extravagant purchases for a man who barely scraped by each month, running a small group home for mentally disabled men. Lured by persuasive mortgage brokers, Guevarra pulled equity – $380,000 – out of his houses in Valencia Park and on ...

1 in 4 homes 'underwater' - Santa Rosa Press Democrat
Now with the bursting of the housing bubble, many don't dare look. The reality is too disheartening: 1 in 4 homeowners in Sonoma County owe more on their mortgage than the home is worth, according to a study released Wednesday by Zillow.com, a real ...

Tide of ‘underwater’ homes rising - Providence Journal
CHICAGO — Joey Goldner always approached real estate with a gardener’s zeal. He’d plant his money in a building, patiently care for it and watch its worth grow. For 30 years, it was a brilliant avocation — right up until the heavy thud of the ...

PNC's sweet takeover deal - Pittsburgh Post-Gazette
CLEVELAND -- Three weeks after the announcement that National City Corp. was being sold, two things are apparent: PNC Financial Services Group got a really sweet deal to buy Ohio's largest bank. And National City was in far worse shape than the ...

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