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Today's Mortgage Terms starting with D
Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
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Clay mortgage loans news:
Court news - Hendricks County FlyerNathan Adam Daniel, Danville and Kisha Rachelle Zigler, Brownsburg. Anthony J. Dick, Plainfield and Kimberly A. Ehmen, Indianapolis. Travis Lee Fields, Carbon and Lindsey Sue Buck, Brownsburg. Nathan Andrew Finlay, Danville and Sarah Elizabeth Baker ...
Looking Back Part 2: 2008 ended on good note - Wahoo NewsASHLAND - In 2008, Ashland and the surrounding communities saw their share of triumphs and tragedy. The second half of the year began with more news on the closing of a local grain elevator and with the annual Stir-Up celebration that livened the ...
The Madness of Crowds - Commentary MagazineFueled by easy credit, the real-estate market had been rising swiftly for some years. Members of Congress were determined to assure the continuation of that easy credit. Suddenly, the party came to a devastating halt. Defaults multiplied, banks began ...
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