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Today's Mortgage Terms starting with E

Equity:

The difference between the current market value of a property and the total debt outstanding against the property.

Escrow:

A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.

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Worth mortgage rates news:

Lender offers lifeline for homeowners - InsideHousing
The Royal Bank of Scotland has promised six months’ breathing space to homeowners who have fallen into mortgage arrears before they are threatened with repossession. The bank, which is one of the country’s biggest mortgage lenders and the parent ...

Suburban Cleveland school district wants a slice of federal bailout ... - Los Angeles Times
CLEVELAND (AP) _ A financially ailing Ohio school district has joined the ranks of banks and automakers clamoring for a portion of the $700 billion economic bailout package. Olmsted Falls Superintendent Todd Hoadley said Tuesday that if automakers ...

New low mortgage rates out of reach - The Washington Times
Many of the would-be borrowers who have bombarded mortgage lenders with phone calls since interest rates dropped last week are finding they don't qualify for loans. Credit standards remain significantly tighter than they were two or three years ago ...

Hong Kong property sales hit 17-year low in Nov - Forbes
HONG KONG, Dec 3 (Reuters) - Hong Kong property transactions fell to a 17-year low in November, with home sales plunging from a year earlier as a deepening global financial crisis shattered potential buyers' confidence in the market. Last month, just ...

U.S. Mortgage Rates Drop Most in Seven Years on Fed Debt Plan - Bloomberg
Nov. 26 (Bloomberg) -- U.S. mortgage rates dropped by the most in at least seven years as a Federal Reserve pledge to buy $600 billion of debt succeeded where seven cuts in the central bank’s benchmark rate had failed. The average rate for a 30 ...

Self-Employed Are Frozen Out of Mortgages - Marketwatch
The government's recent moves to backstop the mortgage market have made it easier for many people with decent credit scores to get a loan. But for many self-employed people -- even those with pristine credit -- the mortgage freeze has yet to thaw. A ...

Time for the Fed to start manipulating mortgage rates? - Los Angeles Times Blogs
Veteran Wall Street economist Ed Yardeni says it's time for the Federal Reserve to engage in direct market manipulation of long-term interest rates, pulling them down in order to get conventional home loan rates down. Yardeni, who heads Yardeni ...

Mortgage lending fall continues - BBC UK News
The average Scot borrowed 75% of the property's value in the third quarter Mortgage approvals in Scotland fell by 18% in the third quarter of 2008, according to the latest figures. However, the Council of Mortgage Lenders said Scotland still ...

CML: Mortgage lending declines in third quarter: CML Scotland - Politics.co.uk
The downturn in mortgage lending continued in the third quarter with 15,100 house purchase loans granted in Scotland, an 18% decline from the previous quarter, according to new data from the Council of Mortgage Lenders Scotland. A similar decline was ...

UK mortgage approvals halved from year ago - Syracuse Post-Standard
LONDON (AP) — Mortgage lending in Britain has more than halved over the past year, according to the British Banker's Association — further evidence that the economic downturn is dramatically hurting the country's property market. The number of ...