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Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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Shelby refinance mortgage news:
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. The absurdist drama “The Bailout,” now playing under the Capitol Rotunda, is perversely reassuring. It has reinforced my long-held belief ...
Bailout goes from necessary to nightmarish - Atlanta Journal ConstitutionThat $700 billion financial sector bailout that I supported — and do still, but with an exit strategy — is a nightmare in the making. Look what’s happened since the first of the month: Atlanta Mayor Shirley Franklin, smelling a bailout handout ...
LATEST POLITICS VIDEOS - CNBCThat measure sought to let judges alter mortgage terms for some troubled borrowers in bankruptcy proceedings. "We could not reach an agreement on that," Connecticut Democratic Sen. Christopher Dodd, chairman of the banking committee and a key ...
Wall Street Crisis Video Gallery - CNBCSearching for recession-proof stocks, with Michael Crofton, of the Philadelphia Trust Company, and David Pearl, of Epoch... Morgan & Goldman: Looking f... [ MER Loading... ( ) ] will create a financial colossus whose brokerage unit ...
GM seeks deal for RenCen - Detroit NewsGeneral Motors Corp. wants to borrow about $500 million from one or both of Detroit's pension funds to refinance the Renaissance Center, the automaker's iconic world headquarters, in a move that could pump cash into the financially strapped company's ...
Barack Obama: John McCain's mortgage bailout 'costly and out of touch' - Los Angeles Times BlogsOn further review, the Barack Obama campaign has chosen to criticize John McCain's surprising call last night for a new homeowner bailout under which the federal government would buy $300 billion worth of underwater mortgages and issue cheaper ...
Bair Testimony on Foreclosures and Stabilization - Wall Street JournalFDIC Chairman Sheila C. Bair testified on foreclosure before the Senate Committee on Banking, Housing and Urban Affairs . These are her prepared remarks. Chairman Dodd, Senator Shelby, and Members of the Committee, I appreciate the opportunity to ...
Congress, Bush team agree on some terms of bailout - Denton Record-ChronicleWASHINGTON – Congress moved closer Monday to authorizing a $700 billion bailout of banks and other institutions crippled by bad housing investments, but sought to impose limits on executive compensation at rescued companies and wider relief for ...
Hoppy's Commentary For Thursday - Metro NewsI suspect I’m like most Americans, trying to get my brain around the credit crisis and the proposed bailout. I confess to only layman skills in economics, so when I read stories about “market-to-market accounting” and “hedge fund exposure ...
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