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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

Calhoun mortgage rates news:

Region sees double-digit jobless rates - Times & Democrat
Orangeburg, Bamberg, Barnwell and Allendale counties had double-digit unemployment rates for August -- and Calhoun wasn’t far back. The August jobless figures for The T&D Region followed the statewide pattern with increases of 1 percent or more ...

Bailout: Little help for homeowners - CNN Money
NEW YORK (CNNMoney.com) -- The $700 billion bailout legislation now under consideration by Congress calls for the Treasury Secretary to implement a plan to stem foreclosures by working with servicers to modify loans. But many housing experts question ...

The Untold Story Behind the Mortgage Numbers the Federal Reserve ... - HispanicBusiness.com
WASHINGTON, Sept. 8 /PRNewswire/ -- The Federal Reserve today released figures showing once again that African-Americans and Latinos pay more for mortgages than white borrowers. Data collected from lenders for 2005 show that a majority of loans (52 ...

Subprime Lending Hurts Homeowners - Social Funds
The Center for Responsible Lending contends that subprime lending has led to a net loss in homeownership. SocialFunds.com -- Not since the Great Depression has the mortgage market faced harder times, asserts a new report from the Center for ...

Miller, Watt take aim at predatory lending with updated bill - Raleigh News & Observer
* Require mortgage brokers and bank loan officers to be licensed. * Require those who make loans to establish that borrowers have a reasonable ability to repay a loan. * Prohibit home refinancing unless the borrower will receive a "net tangible ...

Inside Idaho Business: Real estate market effects folks differently - Idaho Statesman
Washington may soon commit hundreds of billions of taxpayer dollars to bail out banks, mortgage companies, insurance companies and other businesses that never should have sought to profit from people who bought homes they couldn't afford. But no one ...

Coastal Post Online - Coastal Post News
(EIRNS)--In a report that still understates the damage to be wrought by the popping of the Greenspan housing bubble, the Center for Responsible Lending (CRL) forecasts: "As this year ends, 2.2 million households in the subprime market either have ...

Saving the Wealthy Class from Itself - OpEdNews.com
The Gilded Age of America occurred after the Civil War and coincided with the industrial revolution of that period in which great wealth was concentrated to the upper classes. The wealth concentration to the very few resulted from the owners of ...

Silicon Valley home sales slide; median price dips below $600,000 - San Jose Mercury News
In a season of stunning financial news comes more drama from the local housing front: The median house price in Santa Clara County plunged 26 percent last month compared with a year earlier, the county's steepest decline on record. And for the first ...

Items pertaining to Lowry Hill East (The Wedge) neighborhood - Southwest Journal
+ Nov. 30, 2:27 p.m., W. 60th St. and Xerxes Ave. Two unknown suspects assaulted a 20-year-old man and a second person. The two suspects assaulted the victims with an aluminum bat while two other suspects sat in a vehicle watching. All suspects fled ...