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Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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Assumption refinance mortgage news:
Kazakhstan faces "huge risks" -finance minister - Guardian UnlimitedASTANA, Nov 21 (Reuters) - A slide in oil prices means "huge risks" for Kazakhstan as it struggles to refinance billions of dollars of foreign debt and maintain growth, Finance Minister Bolat Zhamishev told Reuters in an interview. Kazakhstan has ...
A Hanging Offense - Wall Street JournalYesterday we noted a story about liberals, prompted by the election of Barack Obama, making sudden shows of patriotism after shunning such displays for the past eight years. We wondered if the same thing had happened on the other side--that is, if ...
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. An increasing number of experts say the U.S. Treasury has taken just the right number of steps to end the financial crisis, and good things ...
2008 (2665) - Dakota Voice► January 16 - January 23 (1) You don't see this kind of courage in a lot of adults, much less a 6-year old. From the Atlanta Journal-Constitution and ABC News comes word of a young boy who rescued his 5-year old friend from drowning. Josiah, who ...
CapeCodToday Blog Chowder - Cape Cod Today"If others were involved with the accused, let them charge them and join him in prison whatever the cost." It's very obvious others were involved. They found three sets of DNA under her fingernails, and DNA on her shoe that matched no one they tested ...
OPINION-U.S. economy and mortgage rates - San Diego Union-TribuneWith cash becoming tight, many families are continuing to review their household budgets for savings opportunities. Here are some more ideas on how to make ends meet. If your mortgage is of the adjustable rate variety, contact your trusted local ...
Nobel Laureate: How to Get Out of the Financial Crisis - TimeSpecialist Thomas Laughlin works at his post on the floor of the New York Stock Exchange. While these times are scary and strange for many Americans, a number of people in other countries feel a sense of deja vu. Asia went through a similar crisis in ...
Foreclosures Help Housing Market Find a Bottom: John M. Berry - BloombergOct. 24 (Bloomberg) -- Home sales are booming once again in Prince William County, Virginia, an area hit hard by the housing bust. Foreclosures are responsible. The same is true in counties across Southern California and inland areas east of San ...
McCain's bailout: moral hazard or economic salvation? - Los Angeles TimesToday's topic: John McCain recently proposed that the U.S. Treasury buy up bad mortgages. How would that affect the mortgage and financial crises? Would McCain produce better results than the new Federal Housing Administration program and voluntary ...
What We Still Don’t Know About the Mortgage Crisis - New York Times BlogsJust today, Senator McCain offered up the oldest Washington stunt in the book: you pass the buck to a commission to study the problem. But here’s the thing; this isn’t 9/11. We know how we got into this mess . It’s one thing to criticize McCain ...
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