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Today's Mortgage Terms starting with N

Notice of Default:

A step in the foreclosure process in which the lender formally informs the court that the borrower is in late in payments.

Non-Assumption Clause:

A provision in a mortgage contract preventing the assumption of the mortgage by another borrower without the lenders permission.

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Johnson home equity loans news:
Financial News
Treasury Snaps Up $40b of AIG Equity - CFO.com
American International Group Inc. received $40 billion from the Department of the Treasury under the Troubled Assets Relief Program. As part of the deal to help keep the insurer afloat, Treasury purchased four million shares of AIG Series D preferred ...

Credit crunch hits small firms - Detroit Free Press
Ann St. Peter, who owns Pinwheel Bakery in Ferndale, always figured that people would cut out the $100 dinners at fancy restaurants in trying economic times. But when she opened her bakery about 18 months ago, she never imagined that colorful cookies ...

Auto slump hits hard in car-mecca California - Sacramento Bee
The Saturn dealership, closed two weeks ago, is still jammed with cars; signs at the curb promote a red-tag sale. The Ford dealership, closed since June, sits empty, stripped clean. These are terrible times for the auto industry, and the impact shows ...

Unorthodox economic policies - Economist.com
THE Federal Reserve’s interest-rate target is at 1%. The recession is deepening. And the question is being asked repeatedly: when will America’s economic policymakers start using truly unconventional measures to stimulate the economy? The answer ...

Feedback Blog - Reading Eagle
In the midst of the recession, the Berks County commissioners on Tuesday were able to deliver 3 percent merit raises for managers. A total of $672,806 in raises is budgeted for 517 managers, county officials said. County Manager William E. Dennis ...

A Real Bailout for Auto Makers - Barron's Online
IS A BANKRUPTCY THE BEST OPTION FOR GENERAL MOTORS , Chrysler and Ford ? While their CEOs insist otherwise and the risks would be high, a growing chorus of outsiders says yes. "It's the only real option that would allow GM to take the steps necessary ...

U.S. November auto sales dreary, but likely up from October - News1130.com
NEW YORK - As the humbled captains of the U.S. auto industry spend the weekend preparing their second case for a U.S. federal bailout, their best argument may come in November's auto sales figures. Industry watchers and car dealers say they expect ...

The Rebirth of Keynes, and the Debate to Come - Huffingtonpost.com
The economy has just about come to a standstill - not so much because credit markets are clogged as because there's not enough demand in the economy to keep it going. Consumer spending has fallen off a cliff. Investment is drying up. And exports are ...

Beyond the Bailout State - Common Dreams
On a December day in 1932, with the country prostrate under the weight of the Great Depression, ex-president Calvin Coolidge -- who had presided over the reckless stock market boom of the Jazz Age Twenties (and famously declaimed that "the business ...

Items pertaining to Stevens Square neighborhood - Southwest Journal
+ Nov. 30, 2:27 p.m., W. 60th St. and Xerxes Ave. Two unknown suspects assaulted a 20-year-old man and a second person. The two suspects assaulted the victims with an aluminum bat while two other suspects sat in a vehicle watching. All suspects fled ...

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