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Today's Mortgage Terms starting with J

Jumbo Loan:

A mortgage over the $300,700 limit established by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. A jumbo mortgage tend to carry a higher interest rate than a conventional mortgage.

Junior Mortgage:

A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid down first.

View all Terms
Morris mortgage rates news:
Financial News
Stocks sputter despite cuts in interest rates - Pittsburgh Post-Gazette
Wall Street gyrated between hope and fear yesterday before losing more ground, as investors assessed the impact of yet another unprecedented government intervention. The Dow Jones Industrial Average finished at 9,258 -- down 189 points, or 2 percent ...

Lenders: Most buyers can still qualify for mortgage - Montgomery Advertiser
Area mortgage lenders say most potential buyers can qualify for loans -- even some with credit scores as low as 580. Vicki Williams of Anchor Mortgage, Morris A. Capouano of EquiSouth Mortgage and Steve Kermish of Residential Mortgage say that ...

Local banks are OK despite financial crisis - Recorder Community Newspapers
As the nation’s largest banks literally choke over enormous debt from bad mortgages, the smaller community banks find themselves in a better position, according to several local bank officials. The financial crisis on Wall Street has led to a ...

Business events and economic reports scheduled - Forbes
Government closed for Columbus Day. Bond markets closed. STOCKHOLM, Sweden - Nobel memorial prize in economics announced. TUESDAY, Oct. 14 WASHINGTON - Weekly Treasury auction; Weekly Treasury briefing. JACKSONVILLE, Fla. - CSX Corp. releases third ...

Rate cuts get economists' thumbs-up - Globe and Mail
Wednesday's move, along with earlier measures, beginning to get to the root of the problem, but more cuts needed, analysts say ... Read the full article Too Deep from Canada writes: The current crisis reflects the massive buildup of bad debt that ...

Countrywide settlement to bring relief to S.D. County - San Diego Union-Tribune
Hundreds of San Diego County homeowners now facing foreclosure will benefit from the settlement of California's predatory lending lawsuit against Countrywide Financial Corp., Attorney General Jerry Brown said yesterday. The resolution of the suit ...

Habitat for Humanity home seeks residents - New Jersey Herald
STANHOPE -- Morris Habitat for Humanity and Sussex Habitat for Humanity are now accepting applications for a fourplex to be built on Lloyd Avenue in Stanhope. This condominium complex will have two, one-bedroom units and two, two-bedroom units. The ...

Bonds dry up as funding source - Argus Leader
Local governments seeking money for roads, schools and a host of other projects are finding it difficult to secure financing, leading some to put those projects on hold. The demand from investors for municipal bonds has dropped off a cliff in the ...

Anti-Obama Boomerang? - Slate
Geraghty carves up the latest Newsweek poll , which has Obama up by 11. ... Newsweek 's findings that McCain is doing better among young people than old people, and better among women than men , seem especially strange. A party breakdown of 40 Dems ...

Credit unions alternative to banks - Morris County Daily Record
With banks tightening credit and the national and international finance markets in freefall, some people may be looking for safer, more stable ways to save, invest and borrow money. John Fenton suggests that those people may find some answers at the ...

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