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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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The latest
Mortgage News:
Treasury briefs candidates on plan to seize Fannie, Freddie - Miami HeraldWASHINGTON -- The widening housing crisis took center stage on the presidential campaign trail Saturday after the Treasury Department confirmed to the candidates it was preparing a historic seizure of mortgage finance giants Fannie Mae and Freddie ...
Rangel had no-interest mortgage more than 10 years - Miami HeraldWASHINGTON -- Rep. Charles Rangel paid no mortgage interest on a beach resort property for more than 10 years, a lawyer for the powerful House committee chairman said Friday. The New York congressman's lawyer, Lanny Davis, told The Associated Press ...
Surge in Joblessness May Deepen US Housing Slump - CNBCThe surprising jump in August unemployment couldn't have come at a worse time for the already struggling housing market. So far, the real estate slump has resulted mainly from over-inflated housing prices coming back to earth and the resulting credit ...
Home-price outlook dim - Honolulu Star-BulletinDespite home prices expected to fall by 3.6 percent this year on Oahu, Hawaii real estate is still unreachable for many consumers, according to a new report. Economists are now predicting single-family home prices to decline by 3.6 percent this year ...
Business Briefs - Honolulu Star-BulletinHAWAII A&B will transfer to NYSE Alexander & Baldwin Inc. said yesterday it will transfer the trading of its shares to the New York Stock Exchange from the Nasdaq on Oct. 1, subject to approval by the NYSE.
GOP policies are far from fiscally responsible - Las Vegas SunI am so tired of Republicans’ labeling the Democrats as tax-and-spend liberals. Republicans apparently think all forms of taxation are evil and must be avoided at all costs. However, it seems they have forgotten that without some form of taxation ...
In the News - Opensecrets.orgPreparing for a general election in which he cannot collect private donations, John McCain vaulted in front of Barack Obama in fundraising from one of the biggest groups of donors in American politics: the senior set. A new analysis of the Republican ...
Obama: ‘I’m Not Going to Take Your Guns Away’ - Wall Street JournalChristopher Cooper reports from Duryea, Pa., on the presidential race. The Obama campaign talks a lot about new ideas and expanding the political map, but in the swing state of Pennsylvania, which the campaign has focused on almost exclusively since ...
Economy (124) - MSNBC FirstreadYORK, PA -- Obama continued to make the argument that McCain and the Republican Party are not concerned about the pocketbook issues that affect the American people. He even doubted that his audience here at a turbine factory could name four things ...
The Latest Headlines... - Cleveland LeaderSopranos Star James Gandolfini Ties The Knot Cliff Lee's First Attempt to Win 20 Comes Tonight Happy Labor Day from The Cleveland Leader! Following a second battle with cancer, former White House press secretary Tony Snow died at the age of 53 early ...
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