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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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Union home equity loans news:
Financial News
Bush, allies put on joint front in effort to calm jittery investors in ... - Chicago Tribune
WASHINGTON (AP) _ President Bush and foreign financial officials displayed joint resolve Saturday to combat the unfolding financial crisis, hoping to calm investors whose panic has spread despite bold and accelerating government action. Yet there was ...

Mortgage Loan Applicants Are Welcomed at Family First Federal Credit ... - Forbes
Turmoil in Congress and on Wall Street has had minimal impact on Family First Federal Credit Union and its ability and willingness to make loans to its members. The issues that are facing the big banks are not the same at the credit union level due ...

Bush, allies seek to calm jittery investors - Associated Press
WASHINGTON (AP) -- President Bush and financial leaders from nations rich and poor pledged Saturday to intensify their efforts to unblock a frozen financial system before it does more damage to an increasingly shaky global economy. While there were ...

South Korea Is Looking Like East Asia's Weakest Link - Forbes
Observers agree generally that a financial crisis like the one in the late 1990s is not on Asia's horizon, though the region will undoubtedly be hurt by the global credit crisis. But analysts are keeping a close eye on South Korea, wondering if it is ...

Toyota Texas Workers Scrub Graffiti as Factory Idles (Update1) - Bloomberg
Oct. 8 (Bloomberg) -- Idled Toyota Motor Corp. assembly- line workers in San Antonio are spending two weeks cleaning city parks, removing graffiti, painting benches and fixing fences instead of building pickup trucks. Japan's largest automaker, which ...

Coast banks: 'We are lending' - Biloxi Sun Herald
While many Americans in other parts of the country feel they're getting the cold shoulder from lending institutions, South Mississippi banks and credit unions say they welcome those seeking loans for homes and cars. "We are lending money," said ...

Credit Crunch: Bankers say cash available for loans - Memphis Commercial Appeal
While the federal government tries to fill bank vaults with cash to deal with the national credit crunch, most bankers around the Mid-South say they have the money they need to make loans and the capital to back it. Because of this, the focus in the ...

Global Stocks Tumble, Driving S&P 500 to Worst Week on Record - Bloomberg
Oct. 10 (Bloomberg) -- Stocks tumbled around the world, driving the Standard & Poor's 500 Index to its worst week on record, and commodities slumped amid growing concern international attempts to prop up financial markets will fail to avert a ...

Credit union business on the rise - Burlington County Times
Officials at local credit unions say they would never wish for the turmoil facing the nation's lending industry. That said, they acknowledge this could be their “time to shine.” “We are seeing a lot of new accounts,” said Hilary Reed ...

Too good to be true - Times Union
Millions of homeowners today face a discouraging, even frightening reality: If they sold their home right now, they wouldn't have enough to pay off the mortgage. That's how over-borrowed many Americans are, and how steep a decline in housing values ...

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