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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Hancock mortgage rates news:

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 ...

Farm group wants entire 1pc rate cut passed on - Australian Broadcasting Corp.
The Queensland Farmers Federation says rural producers should get all of the 1 per cent reduction in official interest rates. The Reserve Bank yesterday announced the biggest single cut in 16 years, and the four major banks said they would pass on 0 ...

Local banks unaffected by crisis - Daily Mining Gazette
HOUGHTON - Local bankers say the national financial maelstrom of the past month hasn't had nearly the impact here. A series of housing and credit problems resulted in the sell-off or failure of high-profile banks such as Wachovia and Washington ...

Let's skip biography and get to economy - Baltimore Sun
N o wonder both presidential candidates are promising change. Even the stupid don't need to be reminded that, yet again, it really is the economy that will dominate voters' concerns. Especially the last couple of days. After a fortnight of diverting ...

Bailout may bring buyers in from cold - Baltimore Sun
The government bailed out mortgage giants Fannie Mae and Freddie Mac yesterday, belying dozens of Fannie and Freddie executives who said year after year that such a thing would never - could never - happen. "The U.S. government does not guarantee ...

A House Unsold, the Dream Dims - US News and World Report
In pursuing the American dream, Hector Garcia figured he was doing everything right. A hardworking welder with two jobs and a new family, he bought his first house 4 1 / 2 years ago in Denver's Montbello neighborhood. Montbello's older, brick ranch ...

Insurers smacked by AIG fallout - Boston Globe
Shares in two Canadian insurers with big Boston operations took a pounding yesterday over the companies' holdings in American International Group Inc. and other troubled securities that are at the center of the financial industry's credit crisis ...

The crisis made simple: how dodgy home loans in America led to ... - Times Online
What caused these problems? It began in America where lenders offered mortgages to people who struggled to meet the repayments, the so-called “sub-prime” loans. The mortgages were pooled and trading in these bundles of loans became an industry in ...

Lehman Creditors Lose as Real Estate Offered in Falling Market - Bloomberg
Sept. 22 (Bloomberg) -- Lehman Brothers Holdings Inc. 's bankruptcy filing may delay the sale of about $30 billion of commercial real estate assets at a time when property values are eroding, leaving less on the table for creditors. Lehman has ``$30 ...

Credit unions avoid economic pitfalls - News-Herald
In recent months, there have been many news articles regarding the downturn in our economy and financial institutions that are having potentially serious financial problems. As a whole, America's credit unions are still a secure and strong option for ...