Today's Mortgage Terms starting with E

Equity:

The difference between the current market value of a property and the total debt outstanding against the property.

Escrow:

A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.

View all Terms

Major refinance mortgage news:

Treasury Eyes New Plan to Drive Down Mortgage Rates - Bank Info Security
The U.S. Treasury Department is considering a plan to purchase mortgage-backed securities to drive mortgage rates down to as low as 4. 5 percent, which mirrors plans the Federal Reserve announced last week to buy securities backed by 30-year fixed ...

Lower mortgage rates aren't the answer - CNN Money
NEW YORK (CNNMoney.com) -- The government finally realizes that it has to address the problems in the housing market. Unfortunately, it seems officials are considering going at it the wrong way. According to several reports, the Treasury Department ...

Bernanke urges more action on foreclosures - MSNBC
Senate Banking Committee Chairman Dodd said Thursday he is in favor of helping the auto industry as the heads of the major U.S. carmakers appeared on Capitol Hill to plead for aid. Dec. 4: GM’s CEO Rick Wagoner answers questions as he arrives ...

US Mortgage Continues to Assist Homeowners During Mortgage Crises - WebWire
As the nation’s foreclosure crisis worsens and weighs down the larger economy, mortgage lenders are shifting gears, promising aggressive new programs to help struggling homeowners from foreclosure. US Mortgage Corp, a diversified mortgage products ...

Fed Aid Sets Off a Rush to Refinance - Wall Street Journal
The Federal Reserve's attempt to stabilize the housing market set off a chain reaction across the U.S. on Tuesday, dropping interest rates and quickly spurring a burst of refinancing activity by borrowers eager to lower their mortgage costs. Some ...

Bankrate website grabs more eyeballs amid crisis - Guardian Unlimited
BANGALORE, Dec 4 (Reuters) - Bankrate Inc is growing stronger in a volatile market as more and more investors turn to its website for free and reliable information on various financial products. "If you are a consumer who needs mortgage, who needs to ...

Last Call for Smart Homeowners - Motley Fool
Ever since the government bailout of Fannie Mae (NYSE: FNM ) and Freddie Mac (NYSE: FRE ) , the mortgage markets have seen wild swings in lending rates. So it's only fitting that to try to ease homebuyers' concerns about being able to get or ...

Mortgage-rate drop may spur home purchases, refinancing - AZCentral.com
Valley residents waiting for the right time to buy a home or refinance their mortgage received a nice holiday gift from the federal government this week. The Federal Reserve's announcement Tuesday that it would spend $600 billion to buy up mortgage ...

What really happened in mortgage market - Alaska Journal of Commerce
Subprime mortgages have now been credited for bankrupting well over 110 lenders and seriously damaging operations at many major mortgage firms. They've reportedly wiped out five hedge funds, tens of thousands of jobs, and have led to millions of ...

Bernanke: Foreclosure Effort Falling Short - Street.Com
WASHINGTON -- Federal Reserve Chairman Ben Bernanke called on the government Thursday to ramp up efforts to stem soaring home foreclosures, which are feeding into the country's deep economic troubles. Although a flurry of actions have been taken to ...