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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Knox home equity loans news:

Public hearings set on Hillcrest sale - Knoxville News Sentinel
Knox County today announced three public hearings to gather input regarding the potential sale of the county-owned Hillcrest nursing home properties. Mayor Mike Ragsdale has proposed selling the building and land to Hillcrest Healthcare Communities ...

Borse Dubai May Pay More for Credit Swap-Linked Loans (Update1) - Bloomberg
Nov. 12 (Bloomberg) -- Borse Dubai Ltd., the Gulf emirate's state-owned operator of exchanges, is in talks to refinance $4.2 billion of loans at interest rates tied to the price of credit- default swaps, raising the cost of the debt, said three ...

Hillcrest land sale deferred - Knoxville News Sentinel
The Knox County Commission on Monday deferred until November the $6 million sale of Hillcrest nursing home property from the county to the facility after commissioners raised objections that Hillcrest was getting a "sweetheart deal" and concerns that ...

ADCB TouchPoints Rewards Programme takes off with Skywards - TravelDailyNews.com
Abu Dhabi Commercial Bank announced its strategic alliance with Skywards , the frequent flyer programme of Emirates Airline , as a redemption partner for their TouchPoints Rewards Programme, the first loyalty programme of its kind in the UAE. The ...

County's mentally ill fade into the system - Seattle Post Intelligencer
Tenants left belongings behind when the Summit Inn, a boarding home for people with mental illness, was shut down in spring. Though the residents were relocated, the shortage of housing for the mentally ill grows. It's a situation that irks Peter ...

Fish-ical advocation - Independent Record
Lots of businesses start out as hobbies, something that entrepreneurs enjoy on the side before trying to turn the hobby into a source of income. That’s the case for Bob Kabajecz. An architectural designer by trade and owner of Quick Draw, Kabajecz ...

The Biggest Heist in History - OpEdNews.com
The bailout is the biggest overt theft in history. Only healthy banks get funding --so why do they get a bailout? The 'bailout' is yet another monumental instance in which 'wealth is spread around' to those who do not need it, did not create it, did ...

More troubles for local developers - Knoxville News Sentinel
A pair of local developers have another legal problem in the form of a controversial ex-Atlanta Braves pitcher. Ward Whelchel and Mike Dionas are among the defendants being sued in Bay County, Fla., by plaintiffs including ex-Braves pitcher John ...

The 90-Grand Phone Call - Motley Fool
FOOL ON THE HILL The 90-Grand Phone Call The current credit system is built to give us easy access to credit. We can get a car loan in a couple of hours and refinance a home in just a few days. It's the same system that enabled crooks to make off ...

Right Now, Propping Up the Banks Is the Only Thing - Huffingtonpost.com
Right now restoration of financial confidence isn't everything. It's the only thing. So for the time being, we can forget about Troopergate, hecklers at McCain rallies and the latest opinion polls. Nobody cared about Gary Condit's love life on the ...