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

Sarasota home equity loans news:

For troubled homeowners, Countrywide deal offers hope - Herald Tribune
Hundreds of troubled Countrywide mortgage holders in Manatee, Sarasota and Charlotte counties could qualify for relief under a $1 billion settlement announced by Florida officials on Monday. TAFF PHOTO/ROB MATTSON The Bank of America building is ...

Imaginary equity's revenge - Herald Tribune
Keller Williams agent Kathy Marlowe used a great phrase recently to describe the environment during the housing boom. She called it a time of "imaginary equity." Imaginary is right. The whole market was based on an illusion, a dream -- one which when ...

Pending home sales show life - Bradenton Herald
WASHINGTON — Pending home sales rose 7.4 percent from July to August, an unexpected piece of positive news for the battered U.S. housing market. The National Association of Realtors said Wednesday its seasonally adjusted index of pending sales for ...

Election 2008 - Weekly Standard
Republican senator Saxby Chambliss will face a much tougher battle than previously expected in his reelection bid in Georgia, according to recent polls. Chambliss leads former state representative Jim Martin by only three points in a Strategic Vision ...

Credit unions 'weather the storm' - Bradenton Herald
While banks continue to get whipped around by the credit storm, credit unions for the most part are enjoying a comfortable spot out of the path of the headwinds. "We have good capital and we can weather the storm," said Elaine Karins, president of ...

Millions spend half of income on housing - BusinessWeek
Al Ray is so strapped for cash, the only time he eats out is on Wednesday or Sunday, when the local McDonald's sells hamburgers for 49 cents. Ray lost his engineering job last November, and has been working as high school tutor, scratching out about ...

Mortgage burden becoming crushing for millions in U.S. - Houston Chronicle
MIAMI — Al Ray is so strapped for cash, the only time he eats out is on Wednesday or Sunday, when the local McDonald's sells hamburgers for 49 cents. Ray lost his engineering job last November and has been working as high school tutor, scratching ...

Takeover seen as good but no cure - Herald Tribune
It will not reverse years of damage to the nation's once-high-flying housing market. It will not halt plummeting home prices or ground skyrocketing foreclosures, local mortgage and banking experts said Monday. But the move was a tremendous ...

Housing to slow growth in 2008 - Raleigh News & Observer
A report warns of 20 percent hit on Triangle economy; U.S. growth may slow 25 percent WASHINGTON - The deepening housing crisis will cut economic growth by more than 25 percent in 143 U.S. metropolitan areas next year and by more than a third in 65 ...

No money to spend - Allentown Morning Call
MIAMI | - Al Ray is so strapped for cash, the only time he eats out is on Wednesday or Sunday, when the local McDonald's sells hamburgers for 49 cents. Ray lost his engineering job last November, and has been working as a high school tutor ...