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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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Clayton mortgage rates news:

Credit crunch may hurt retail sales - Danbury News-Times
America's consumer-driven economy is about to swallow some bitter medicine -- stricter limits on credit cards. Credit card issuers are cutting credit lines, raising interest rates, and reducing the number of new-card offers as they adopt what are ...

Study: Poor neighborhoods face unfair property taxes - Atlanta Journal Constitution
Residents of high-foreclosure neighborhoods are suffering additional pain from property taxes that are too high, according to a new report from a housing advocacy group. The Atlanta Neighborhood Development Partnership says the tax burden will hamper ...

America's next nightmare: middle-class foreclosures - Windsor Star
NEW YORK -- The U.S. housing market is set for a fresh slump as the sputtering economy leads a growing number of once creditworthy borrowers to start defaulting on their mortgages. "Before, a lot of it was just people who shouldn't have owned homes ...

October foreclosures up 9% - Newnan Times-Herald
Foreclosures are still up in Coweta County, with 142 appearing in today's Times-Herald legal ads section -- a 9 percent rise over October last year and the fourth-highest number of foreclosures listed in a single month this year. However, there may ...

October September August July June May April March February January ... - Nypress.com
Coming off their best-ever season and being ranked in the preseason polls for the first time in their history, it wouldn’t have surprised anyone if the No. 12 Rutgers Scarlet Knights came out a little overconfident versus lowly University of ...

Alleging fraud, authorities raid voter group ACORN's canvassers filled ... - Las Vegas Review Journal
State authorities on Tuesday raided an organization that registers low-income people to vote, alleging that its canvassers falsified forms with bogus names, fake addresses or famous personalities. The secretary of state's office launched an ...

Warren Buffett's happy housing story - CNN Money
(Fortune Magazine) -- Not every subprime lender is drowning in red ink. Berkshire Hathaway subsidiary Clayton Homes, the nation's largest maker and financer of prefab and mobile homes, has been a bright light in a mortgage market that has generated ...

Trader Talk Video Gallery - CNBC
While July existing home sales came in in line with expectations , the pace is still weak and the increase in inventory (to 9.6 months supply at the current sales pace) is especially unwelcome. This occurred before the recent credit crunch, so the ...

Libor Mystifies Americans as Mayor Reads `Doomsday' (Update2) - Bloomberg
Oct. 3 (Bloomberg) -- Anisha Gupta, returning clothes to a Hugo Boss store on Rodeo Drive in Beverly Hills, shrugged when asked about Libor. She had heard the term. She wasn't sure she could define it. ``I thought it was a pill,'' said Gupta, an ...

New Rules Allow the FHA to Buy Troubled Loans - BusinessWeek
by Mara Der Hovanesian For much of the real estate boom, the Federal Housing Authority sat frustrated on the sidelines. Handcuffed by congressional limits on the cost and size of its loans, the original government buyer of mortgage loans couldn't ...