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Today's Mortgage Terms starting with R

Refinancing:

The repaying of a debt with the proceeds from a new loan using the same property as collateral. The reason for refinancing is to get a lower interest rate.

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Valencia home equity loans news:
Financial News
Guevarra: Luxuries lost - San Diego Union-Tribune
They were extravagant purchases for a man who barely scraped by each month, running a small group home for mentally disabled men. Lured by persuasive mortgage brokers, Guevarra pulled equity – $380,000 – out of his houses in Valencia Park and on ...

House price recovery 'could take ten years' - Times Online
Homeowners will have to wait a decade before property prices return to 2007 levels, a leading estate agent said yesterday. Average house prices are tumbling at a rate of £78 a day and are set to fall in total by 16 per cent this year and 11 per cent ...

Tucson manufacturing continues decline with Pella plant layoffs - Arizona Daily Star
Pella Corp. announced Wednesday that it is halting production at its Tucson vinyl window manufacturing plant, a victim of the depressed new-housing market, according to a company spokesman. The Tucson plant, the Iowa-based company's smallest plant ...

Collier foreclosures hit working class - Naples Daily News
In Collier County, it’s the more affordable communities that have been hurt the most. From Jan. 1 to Oct. 8, the county had 1,500 final judgments for mortgage foreclosures on single-family homes, with a total mortgage balance of more than $522 ...

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