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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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Tama mortgage loans news:
Financial News
BofA Reaches $8.4 Billion Settlement With Homeowners - The Epoch Times
A man stands in a Bank of America ATM branch October 6, 2008 in New York City. Bank of America announced it would spend up to $8.4 billion to restructure the shaky mortgage loan portfolio of lender Countrywide. Bank of America also reported a third ...

State makes millions available in flood aid - Globe Gazette
DES MOINES — A state program designed to help Iowa recover from disasters in recent months will set aside more than $4.7 million in housing aid and more than $720,000 in help for small businesses in Cerro Gordo County and surrounding areas, Iowa ...

Clark: Why I should still be PM - Stuff
The worst thing to do would be to be cutting back on overall public spending. If we want a lesson about how to head to the great slump, do that. What I've been focusing on is growth and investment so that New Zealand's in a good position when world ...

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