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Today's Mortgage Terms starting with M

Margin:

The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.

Market Value:

The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.

Mortgage Banker:

A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.

Mortgage Broker:

A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.

Mortgage Insurance:

It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).

Mortgage Loan:

A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.

Mortgage Refinance:

A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.

Mortgagee:

The lender in a mortgage loan relationship. Property is used as collateral to make payment.

Mortgagor:

The borrower in a mortgage loan relationship. Property is used as collateral to make payment.

View all Terms
Carroll mortgage rates news:
Financial News
McCain's Annoying Little Fraud - Slate
( Pierre, S.D .) McCain would like everyone to think his campaign imploded last summer because of his courageous support for the surge in Iraq : I fought for the right strategy and more troops in Iraq, when it wasn't a popular thing to do. And when ...

September August July June May April March February January 2007 - 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 ...

The bad news the worse news - San Francisco Gate
Do you own a home? Congratulations! Your home is now worth less than it used to be. I hope you didn't do anything foolish with regard to interest rates on your home loan, because you could be in trouble. No, you probably are in trouble. And the ...

Doctors Support Universal Health Care: Survey - Common Dreams
WASHINGTON - More than half of U.S. doctors now favor switching to a national health care plan and fewer than a third oppose the idea, according to a survey published on Monday. The survey suggests that opinions have changed substantially since the ...

Search on the topic "Letters": - Leader
To the Lyndhurst Police and Fire departments, emergency squad and residents, particularly those of Post Avenue. I want to say a heartfelt thank you for your quick and helpful response to my car accident. On Monday, Aug. 18, I was in an accident that ...

Henry Paulson's Priorities - Common Dreams
By Bush administration standards, Henry Paulson, the Treasury secretary, is a good guy. He isn't conspicuously incompetent; and he isn't trying to mislead us into war, justify torture or protect corrupt contractors. But Mr. Paulson's actions reflect ...

Corrections and clarifications - Milwaukee Journal Sentinel
An article Wednesday about a proposed merger of Milwaukee County justice facilities incorrectly stated that the House of Correction is in County Supervisor Paul Cesarz's district. It is in Supervisor Mark Borkowski's district. An item in the Life ...

For sale, for less - Baltimore Sun
Half the communities in the Baltimore metro area saw average home sale prices decline last year as the housing slump deepened. That's a big change from 2006, the first full year of the downturn, when prices were still rising in eight out of 10 local ...

Big Zell Dis  - Slate
The poverty numbers are good economic news at a time when financial markets have been rattled by a slumping housing market. However, the numbers released Tuesday represent economic conditions from a year ago . [E.A.] Is there any reason to think the ...

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