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Today's Mortgage Terms starting with D

Default:

Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.

Discounted Loan:

When the note rate on a loan is lower than the market rate, it is a discounted loan.

Discount Point:

A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.

Down Payment:

The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.

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Carter mortgage rates news:
Financial News
John McCain’s dishonorable campaign - Salon
It kept getting worse all week. Again on Friday a McCain-Palin supporter called Barack Obama a “traitor,” and John McCain said nothing. He used to challenge racist hecklers on the trail; he used to say he wanted to run an honorable campaign. But ...

A new big lie by the GOP - Salon
I've been wanting us to write on the right-wing effort to blame the mortgage crisis on the Community Reinvestment Act and other efforts to bring homeownership to lower-income, minority Americans, but this piece by Slate's Daniel Gross is so great I'm ...

2008 Crisis in the U.S. Financial System, Part One of Two - Cape Cod Today
T he crisis in the U.S. financial system does not have its origins in the failure rate of sub-prime loans over the past few years. Like many great historical events, its roots were planted decades ago when a noble idea -- own a home with initial ...

European Stocks Advance on Fed's Plan to Unlock Credit Markets - Bloomberg
Oct. 7 (Bloomberg) -- European stocks rose after the Federal Reserve said it will buy short-term corporate loans in a bid to unlock credit markets and investors speculated central banks around the world may reduce interest rates. Royal Dutch Shell ...

The right blames the credit crisis on poor minority homeowners. This ... - Slate
We've now entered a new stage of the financial crisis: the ritual assigning of blame. It began in earnest with Monday's congressional roasting of Lehman Bros. CEO Richard Fuld and continued on Tuesday with Capitol Hill solons delving into the failure ...

Allan Little's journey - bbc
My BBC colleague Steve Titherington has a personal connection. In the years after the Second World War, Steve's family, living in the austerity of post-war Britain, used to receive care packages from a family in Clarksville. Steve has brought with ...

America's Credit Catastrophe - US News and World Report
This, the shaky American economy did not need. If an imploding housing bubble and energy price superspike weren't damaging enough, our ailing financial system decided to slide into full cardiac arrest. And while the White House, Congress, and Federal ...

EDITORIAL: The mortgage scandal roots - The Washington Times
Pedestrians walk past Lehman Brothers headquarters Wednesday in New York. The nation's fourth-largest investment bank, led by Chairman and Chief Executive Officer Richard Fuld Jr., is looking for a potential buyer amid Wall Street reports that the ...

Debate polls say Obama, but as Kenny Rogers reminds us, “There’ll ... - Atlanta Journal Constitution
Sorry Truth. Am I my brothers keeper? Coffee isn’t working yet. Yes sir, it is wrong to attack anyone based on their faith. Sometimes we are just tired of people trying to force their beleifs on the public. A lot of the attacks start when the same ...

Not Everyone Should Own a Home - Wall Street Journal
Maybe only a friendly foreigner could say this. But America needs to realize that not everyone can own a home. The American Dream of home ownership for all is a fraud. Politicians who pimped this dream created an unsustainable mortgage industry whose ...

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