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Today's Mortgage Terms starting with F

Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac):

A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.

Federal Housing Administration (FHA):

A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.

Federal National Mortgage Association (FNMA or Fannie Mae):

This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.

FHA Loans:

Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.

First Mortgage:

A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.

Fixed Rate Loan:

Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.

Foreclosure:

A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.

View all Terms
Morris refinance mortgage news:
Financial News
Foreclosures hit newer subdivisions - Indianapolis Star
Although Hamilton County has been mostly spared from the job losses that have rocked Indiana this year, the wealthiest county in the state has seen its foreclosure rate skyrocket. Close to 1,400 Hamilton County homes have been foreclosed on so far in ...

Local bankruptcies have risen sharply - Louisville Courier-Journal
Transferred to Louisville from Oregon 2½ years ago, Ed and Cherri Dubiak had trouble selling their old home and soon found themselves overwhelmed by bills, including $65,000 in credit-card debt. "Every credit card I had was getting maxed out," said ...

November 2008 - Weblogs.baltimoresun.com
Reader Dave sends this nice letter to Obama's change.gov Web site, a propos of Saturday's column on layoffs. Dear President-elect Obama, Normally, I do not comment or send letters to elected officials, but since we are all looking for positive change ...

Man says he was shot after rap contest - Milwaukee Journal Sentinel
Nov. 16, 2008 | An 18-year-old Milwaukee man told police he was shot last night in the 2300 block of N. Buffum St. after winning a rap contest. The man, who was shot in his left leg about 8:30 p.m. Saturday, was treated and released from a hospital ...

Woman to be sentenced for hiding corpse - Milwaukee Journal Sentinel
Nov. 16, 2008 | Mauston - A woman accused of helping her religious leader hide a decaying corpse on her toilet for weeks is set to enter a plea and be sentenced Monday. Prosecutors have accused 36-year-old Tammy Lewis and 58-year-old Alan Bushey of ...

Lurching Toward Gomorrah: More Signs of An Unstoppable Economic ... - OpEdNews.com
Crisis denialists are still around but are slowly and grudgingly giving way to the reality that global capitalism is in serious crisis as recession lurches toward depression in a continuing downward spiral. Nearly every new data release confirm it ...

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