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Today's Mortgage Terms starting with H

Home Equity Line of Credit:

A type of revolving credit in which your home is used as collateral.

Home Equity Loan:

A revolving line of credit or loan based on the equity in the mortgagor's property. The property is the collateral for the loan, which is usable for any purpose.

Housing and Urban Development (HUD):

A U.S. government agency created to introduce federal housing and community development programs; manages the Federal Housing Administration.

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Washington mortgage loans news:

Troubled General Growth gets extension on debt payments - Honolulu Advertiser
WASHINGTON — Shopping-mall owner General Growth Properties Inc. is getting a two-week extension on $900 million in debt that had been scheduled to come due last week as the company works to stave off bankruptcy and negotiate longer-term extensions ...

Money Meltdown Came After Banks Fought Off Regulation, Government ... - The Ledger
WASHINGTON | The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient ...

Investors sue Countrywide to force loans purchase - Washington Post
NEW YORK (Reuters) - A group of bond investors on Monday sued Bank of America -owned Countrywide Financial demanding that Countrywide buy every mortgage loan for which it agrees to reduce the payments under a predatory lending settlement ...

Paulson leaves door open to mortgage modification - Marketwatch
WASHINGTON (MarketWatch)-Treasury Secretary Henry Paulson on Monday indicated that he might support a new approach to mortgage foreclosure mitigation, but he didn't go so far as to back a proposal introduced by Federal Deposit Insurance Corp. chief ...

Fed Prepared to Lower Interest Rates, Bernanke Says - Washington Post
The Federal Reserve stands ready to cut interest rates further and to expand its novel efforts to inject cash into various corners of the financial markets, Chairman Ben S. Bernanke said today as he laid out various steps the central bank could take ...

Bernanke says he erred in gauging mortgage fallout - Associated Press
WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke acknowledges he was wrong in believing that there would be limited fallout to financial markets from risky mortgages that soured after the housing market's collapse. "I and others were mistaken ...

Investor Sues to Block Mortgage Modifications - BusinessWeek
The battle over the mass modifications of troubled mortgages has begun in earnest. On Dec. 1, William Frey, a private investor in mortgage-backed securities, filed an unprecedented lawsuit in U.S. District Court in the Southern District of New York ...

Meltdown far from over, new mortgage crisis looms - Associated Press
WASHINGTON (AP) -- Black Friday's retail shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same ...

Bush administration ignored regulators' warning of mortgage meltdown - Bloggingstocks.com
Experts inside the Bush Administration tried to warn about the mortgage meltdown . They even proposed new regulations to set guidelines for the risky loans written by the banks who now have their hat in hand looking for a bailout. The banks fought ...

Bernanke: Lower interest rates 'feasible' - Jackson Clarion-Ledger
WASHINGTON — Federal Reserve Chairman Ben Bernanke said Monday that further interest-rate cuts are “certainly feasible,” but he warned there are limits to how much such action would revive an economy likely to stay weak well into next year. The ...