Today's Mortgage Terms starting with N

Notice of Default:

A step in the foreclosure process in which the lender formally informs the court that the borrower is in late in payments.

Non-Assumption Clause:

A provision in a mortgage contract preventing the assumption of the mortgage by another borrower without the lenders permission.

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Scott mortgage rates news:

Bank Writeoffs May Rise, Bond Spreads Fall on TARP (Update2) - Bloomberg
Oct. 6 (Bloomberg) -- The U.S. Treasury's $700 billion plan to rescue the nation's banks from the subprime mortgage debacle may help bonds rebound from losses of at least 90 percent while contributing to writedowns at financial institutions. The ...

Bank Writeoffs May Triple, Bond Spreads Fall on TARP (Update1) - Bloomberg
Oct. 6 (Bloomberg) -- The U.S. Treasury's $700 billion plan to rescue the nation's banks from the subprime mortgage debacle may help bonds rebound from losses of at least 90 percent while contributing to writedowns at financial institutions. The ...

US government rescue may prove too feeble - The Australian
GLOBAL equities markets are stuck in a rut and there seems little to prompt a reversal in the savage sentiment towards stocks. The US government rescue package is weak and instead of providing the momentum expected, it seems to be failing. The ...

Credit Unions Buck Trend; Remain Solid Despite Mortgage Meltdown - Market Wire
MEQUON, WI--(Marketwire - October 2, 2008) - The subprime mortgage meltdown continues to have ripple effects throughout the economy, but a too-often-ignored bright spot in the mortgage industry is just down the street: the local credit union. And in ...

Thaw in credit may begin next week - Boston Globe
Congress rushed through a $700 billion program to bail out financial firms, but it will take at least a month before the government can make the deals for which the plan was designed: buying large holdings of risky, mortgage-backed securities from ...

Credit remains tight as bailout vote nears - CNN Money
NEW YORK (CNNMoney.com) -- Though a financial rescue plan was in reach Friday, credit still remained tighter than ever. The House is expected to vote on the Treasury's $700 billion plan to buy up troubled assets from financial institutions. Those ...

Foreclosures might have peaked in Minneapolis - Minneapolis Star Tribune
The foreclosure boom appears to have peaked in first-hit and worst-hit Minneapolis -- even while it continues unabated in the rest of Hennepin County. St. Paul also reports new sheriff's sales dropping in recent months. New foreclosures in ...

Lending lockdown tightens grip - CNN Money
NEW YORK (CNNMoney.com) -- Credit remained hard to come by Thursday, even after the revised government bailout plan cleared the Senate, as investors waited to see if the bill can pass through the House. The Senate on Wednesday night gave a stamp of ...

Delaying bailout may add to pain, economists say - Kearney Hub
Tough times are ahead unless Congress does something to help the economy, several economists said Monday, but so far the pain is too distant from ordinary Americans to compel lawmakers to act. Tough times could mean higher interest rates on loans ...

The Bailout Bill Fails (Update #3) - BusinessWeek
Once again, it is back to the drawing board for the Treasury’s proposed $700 billion rescue plan for the financial industry. In a development that stunned Washington after more than a week of intensive negotiations, the bailout bill failed in the ...