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Today's Mortgage Terms starting with N

Notice of Default:

A step in the foreclosure process in which the lender formally informs the court that the borrower is in late in payments.

Non-Assumption Clause:

A provision in a mortgage contract preventing the assumption of the mortgage by another borrower without the lenders permission.

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Union home equity loans news:
Financial News
Home loan applications pile up - San Jose Business Journal
Steve Donahue says loan applications at Tech Credit Union are up more than 1,000 percent compared to a year ago. A “tremendous” surge in residential mortgage applications is a welcome boost not only for a battered industry, but also for an ...

GM May Not Require Further U.S. Loans to Survive (Update1) - Bloomberg
Jan. 7 (Bloomberg) -- General Motors Corp. said it has enough government loans to cover its worst-case forecast for U.S. auto sales and won’t need more if the economy holds up. Pledges from the U.S. Treasury for as much as $13.4 billion to help GM ...

Kill the competition: Obama spending ... Rate doubts ... Brown rev-up - Times Online
The Times : Barack Obama said only unprecedented and urgent government spending can prevent the deepening recession stretching for years. The Times : Experts warned the lowest interest rate in the Bank of England's history will deter savers from ...

U.S. reverse mortgages rising but some view warily - Reuters
WASHINGTON, Jan 8 (Reuters) - The market for reverse mortgages, which allow older Americans to borrow against their homes while living in them, is growing fast but advocates for aging Americans say they should only be used in specific instances ...

HERMANTOWN FEDERAL CU - Budgeteer News
Hermantown Federal Credit Union, located in the heart of the Hermantown community, serves nearly 14,000 members, which includes all of St. Louis County and local union and trade associations. The main office is located at 4477 LaVaque Road in ...

National Ticker, January 9 - Inland Valley Daily Bulletin
Mortgage giants Fannie Mae and Freddie Mac said Thursday they will extend the suspension of foreclosure sales and evictions from single-family homes through the end of January. The companies had suspended foreclosures through the holidays but were ...

Many 'Toxic' Mortgages Held by Small Business Owners - HispanicBusiness.com
Many of the nation's small business owners own "toxic" mortgages and are at risk of defaulting on their loans. The data, released by the National Association for the Self-Employed (NASE) and the Kean University School of Business in Union, N.J., on ...

Home Front: Sacramento-area real estate market befuddled the experts - Sacramento Bee
So begins a new year in the Sacramento real estate market, remarkably making its case as the fourth straight year of a downturn. A slump that began with nervous whispers in the summer of 2005 has escalated into a prolonged economic crisis that ...

On The Money Latest Home & Real Estate Posts - CNBC
I've received a ton of mail from you all about mortgages, managing debt and investing wisely. I've highlighted a pair of emails below with some answers that I hope you find helpful. Stay tuned for much more on these hot-button issues... Carmen: I don ...

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