Today's Mortgage Terms starting with P

Payment Cap:

A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.

Point:

A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.

Pre-Approval:

The process of calculating how much money a potential homebuyer could borrow.

Prepayment Penalty:

A lender's charge to the borrower for paying down the loan before the end of its term.

Pre-Qualification:

A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.

Principal:

It is the amount of money borrowed or owed, excluding interest.

View all Terms

Turner mortgage loans news:

Fall in house prices slows but mortgage fraud flourishes - Guardian Unlimited
The sharp fall in house prices has slowed this month, Nationwide said yesterday, but experts predict that they still have further to fall. Britain's biggest building society said that prices dropped 0.4% this month and 13.9% over the past 12 months ...

No, I'm not willing to spend for my country - Times Online
In this time of national adversity the country needs leadership by example. Instead of fan-mailing X Factor finalists, Gordon Brown should be down in the Westfield shopping mecca rewarding Sarah for swinging that Scottish by-election with a Christmas ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. When Deal Journal told people we were going to cover an event honoring the 25 Most Powerful Women in Banking, a common reaction was: “There ...

Subprime Suspects - CFO.com
In past financial blowups, auditors have paid a heavy price. After the savings-and-loan crisis of the late 1980s, for example, the Federal Deposit Insurance Corp. collected more than $1 billion in settlements from four of the then–Big Six for their ...

The Note: Economy Confronts Obama...Again - ABC News Blogs
You don’t need a light-bulb moment for this one: Now that the national-security team is in place, it’s all about the economy again for President-elect Barack Obama. And, oh yeah -- he’s pretty much the president now, by the way. Partly it’s ...

PRESS DIGEST - Financial Times - Nov 29 - Reuters
Easy access saving accounts offering rates over six per cent are about to disappear as banks and building societies, including Nationwide, Alliance & Leicester, Royal Bank of Scotland (RBS.L: Quote , Profile , Research , Stock Buzz ) and NatWest, cut ...

Miami activist moves people into foreclosed houses - Salon
Dec 1st, 2008 | MIAMI -- Max Rameau delivers his sales pitch like a pro. "All tile floor!" he says during a recent showing. "And the living room, wow! It has great blinds." But in nearly every other respect, he is unlike any real estate agent you've ...

Glance-PRESS DIGEST - Financial Times - Nov 29 - TradingMarkets.com
Easy access saving accounts offering rates over six per cent are about to disappear as banks and building societies, including Nationwide, Alliance & Leicester, Royal Bank of Scotland and NatWest, cut their interest rates. According to Moneyfacts.co ...

Economists tip 0.75pc rate cut - News.com.au
OFFICIAL interest rates are tipped to be cut by between 75 and 100 basis points before Christmas as the global financial crisis stirs fears of a possible recession. All 18 economists surveyed by AAP expect the Reserve Bank of Australia (RBA) to cut ...

Up Next - CBS News
THE CHEATERS - 60 MINUTES and The Washington Post reveal how online poker players suspecting cheating were forced to successfully ferret out the cheaters themselves. That's because managers of the mostly-unregulated $18 billion Internet gambling ...