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Today's Mortgage Terms starting with S

Second Mortgage:

An additional mortgage that has rights that are secondary to the first mortgage.

Seller’s Market:

Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.

Settlement Costs:

Money paid by the borrowers and sellers to complete the closing of a mortgage.

Settlement Cost (HUD Guide):

HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.

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Grundy mortgage rates news:
Financial News
Median sale prices down in area from a year ago - Courier News
SPRINGFIELD -- Job losses and economic uncertainty continued to impact the Illinois housing market, which saw another big drop in home sales and home sale prices in the third quarter. In the Chicagoland Primary Metropolitan Statistical Area -- the ...

Chicago-area home sales slide 22% in Q3 - Crain's Chicago Business
(Crain’s) — Home sales in the Chicago area dropped 22.1% during the third quarter, compared to the third quarter, 2007 according to the Illinois Assn. of Realtors. In the third quarter, a total of 20,449 single-family homes and condominiums were ...

Illinois Third Quarter Home Sales Down 21.2 Percent - Earthtimes
SPRINGFIELD, Ill. , Nov. 17 /PRNewswire-USNewswire/ -- Job losses and economic uncertainty continue to impact the housing market while home price affordability and supply present opportunities for first-time buyers. According to the Illinois ...

Slash interest rates now to stave off depression - Times Online
Nobody can dispute any longer, as I rashly did two months ago, that we are living through the worst financial crisis of our lifetimes. Historians can argue about the causes of the near-collapse of almost every bank in the world - a catastrophe never ...

Repossessions must be a 'last resort' - Times Online
UK mortgage lenders will be forced to prove that they are repossessing Britons' homes only as a last resort under new rules announced yesterday by the Prime Minister. Gordon Brown has introduced new rules to clamp down on lenders that rush to ...

City home sales dive 16%; median price tumbles 13% - Crain's Chicago Business
(Crain’s) — Home sales in Chicago plunged 16% in September, while sales in the nine-county area fell at a much slower rate, according to a report released Friday by the Illinois Assn. of Realtors. In the city, a total of just 1,770 single-family ...

I'm on your side, not in your wallet - News of World
I KNOW how tough times are right now. Jobs, homes and businesses are being lost. People need help . . . and they need it fast. They want to know politicians are on their side—not the other side of the world. And on your side is right where the ...

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