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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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Ravalli mortgage rates news:
Financial News
Local banks solvent, but state borrowers still face hardships - Bozeman Daily Chronicle
The small banks that make up the vast majority of Montana’s lending institutions aren’t feeling the hangover that larger banks now are, but then, they didn’t attend the party, either. “They either weren’t willing or weren’t able to make ...

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sources: informars.com, erate.com, Freddie Mac
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