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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.
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Adams refinance mortgage news:
Clinton (Easton, Pennsylvania) - Chicago TribuneWork began September 4 on the rehabilitation of the PA 61 Bridge over the Schuylkill River in West Brunswick Township, Schuylkill County. The bridge project entails deck patching, a latex overlay of the deck, expansion joint replacements, new ...
Ottawa bows to banks to keep credit flowing - Globe and MailSilver Standard (Robert Menard Rules:)) from Canada writes: Well here we go guys, get your money out of paper. We are going to go down with the USA. We really don't need to do this, its criminal what they are going to do with or savings. All the ...
Michelle Singletary - Washington PostPersonal finance columnist Michelle Singletary hosted an online discussion with Gary Weiss , author of "Wall Street Versus America: A Muckraking Look at the Thieves, Fakers, and Charlatans Who Are Ripping You Off," on Thursday, Oct. 23 at Noon ET ...
Dow jumps more than 300 points in opening minutes - The Washington TimesNEW YORK (AP) - Stock prices soared in the opening minutes today after a weekend announcement that the U.S. government plans to bail out mortgage lenders Fannie Mae and Freddie Mac. The Dow Jones industrial average is up 343.03 to 11,563.99. The ...
They Did It on Purpose: The Housing Bubble and Its Crash - OpEdNews.comDuring the Clinton administration, the government required the financial industry to start expanding the frequency of mortgage loans to consumers who might not have qualified in the past. When George W. Bush was named president by the Supreme Court ...
America's Economic Crisis Is Beyond The Reach of Traditional Solutions - OpEdNews.comBy most accounts the US economy is in serious trouble. Robert Reich, an adviser to President-elect Obama, calls it a “mini-depression,” and that designation might be optimistic. The Russian economist, Mikhail Khazin says that the “U.S. will ...
BLOG: Up to 100,000 at Obama rally Sunday - Rocky Mountain NewsDemocratic presidential candidate, Sen. Barack Obama, D-Ill., arrives at a rally in Fort Collins, Colo., Sunday, Oct. 26, 2008. Video: With nine days to go before Election Day, Sen. Barack Obama's rally in downtown Denver's Civic Center Park draws an ...
Dakota Voice - Dakota Voice► January 16 - January 23 (1) To assuage conservatives, McCain has rolled out endorsements from leading conservatives and aired a new television ad that mentions Ronald Reagan. He plans to attend a major gathering of conservatives later this month ...
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