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Today's Mortgage Terms starting with P

Payment Cap:

A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.

Point:

A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.

Pre-Approval:

The process of calculating how much money a potential homebuyer could borrow.

Prepayment Penalty:

A lender's charge to the borrower for paying down the loan before the end of its term.

Pre-Qualification:

A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.

Principal:

It is the amount of money borrowed or owed, excluding interest.

View all Terms
Butler mortgage loan news:
Financial News
Butler County: Foreclosed properties down in '08, sheriff says - Journal-News
The housing market appears to be improving locally as fewer properties were sent to foreclosure auction this past year. According to figures released by the Butler County Sheriff's Office, 1,390 properties were sent to foreclosure auction in 2008 ...

Schools count on local tax - Greenville Advocate
A prorated school budget by at least nine percent is going to hurt the Butler County School System and Superintendent Mike Looney said if there is any time to shop locally, it is now. “We really need to - and honestly we have got to - hammer home ...

Hoteliers see too much room at the inn - Los Angeles Times
Indeed, U.S. hotels have entered one of the deepest and longest recessions in the history of the country's lodging industry, according to a December report by PKF Hospitality Research. The report predicts a nearly 8% drop this year in revenue per ...

Thundering Herd can only clap as Merrill bows out - Evening Standard
Merrill Lynch bankers staged a Wall Street tradition when the New York Stock Exchange sounded its closing bell on New Year's Eve: the clapoff. Hundreds of employees at the World Financial Center in Manhattan stood and applauded solemnly to pay ...

Local credit scores sliding - Cincinnati.com
Credit scores appear to be slipping for consumers in Greater Cincinnati and Northern Kentucky - at a time when many people are counting on credit to survive the recession and take advantage of low mortgage rates. An analysis of auto loan applications ...

Local credit scores dropping - Cincinnati.com
Area consumers appear to be having a tougher time getting credit, an analysis conducted for The Enquirer has found. The shift is happening when some consumers are trying cash in on historically low mortgage rates while others are being forced to use ...

Matter of Record, January 5 - Wichita Falls Times Record News
State Farm Mutual Automobile Insurance Co. vs. Joshua Eric Melton, 4118 Palomino, $4,616.49, V3317 P802. County of Williamson vs. Travis A. Holland, et al, 1419 N. 7th, $2,025.29, V3318 P20. Gant, Kenneth Adrian, Wichita County, Chapter 7, Date Filed ...

New Forth Bridge plan in disarray - Scotsman
PLANS for a new Forth road bridge were in disarray last night after the UK Government threw out a request to give the SNP administration a multimillion-pound cash advance. Scottish finance secretary John Swinney had asked Westminster for the cash ...

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