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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. View all Terms

Austin home equity loans news:

College choices get harder with downturn - Austin American-Statesman
For years, Mike and Kelly D'Addeo planned to use their trove of Intel Corp. stock options to send their son Tony to a top college. Tony would be a good candidate for any school: He's a straight-A senior at Bowie High School and captain of the ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. The financial sector has had a bad year, and it’s just getting worse. Today, shares of Goldman Sachs Group and American Express were down ...

A transcript follows. - Washington Post
Read today's column . About Pearlstein: Steven Pearlstein writes about business and the economy for The Washington Post. His journalism career includes editing roles at The Post and Inc. magazine. He was founding publisher and editor of The Boston ...

Q&A Transcript - Washington Post
Washington Post columnist Steven Pearlstein will be online Wednesday, Nov. 19 at 11:00 a.m. ET to discuss the automotive bailout. Submit your questions and comments before or during the discussion. Read today's column . About Pearlstein: Steven ...

Nov 09 - Nov 15 (304) - Andrewsullivan.theatlantic.com
"When every gay person and every friend or family member of a gay person really, truly believes that the status quo is unacceptable, we will win." I'm not gay. I don't have gay friends or family. This isn't about homosexuality. This is about civil ...

Home equity loan avoids fees of refinancing mortgage - KEYE Austin
Q. I would like to refinance my adjustable-rate mortgage to lock in one of today's low rates. But I don't want to pay a lot of fees for a new mortgage that would actually make my monthly payments bigger over the next year. Refinancing would cost ...

Finding money at home - Arizona Daily Star
● The amount of equity you can tap into varies depending on your age, home value and when you actually draw out the money, according to a reverse mortgage calculator from AARP at www.rmaarp.com/. The cost can vary but is generally 5 to 8 percent of ...

Is an equity accelerator program for you? - Everett Herald
Last year Jennifer and Mike Wheat refinanced to a new kind of mortgage that could help the Lake Stevens couple pay off their loan in about 11 years for thousands less than if they had opted for a traditional, fixed-rate 30-year loan. Variations of ...

Making Banks Approach the Bench - BusinessWeek
"Who Owns Your Loan?" (August/September 2008) raises an interesting question: When is some clever litigator going to go after the banks for bad faith? The banks have sold their customers' [loans] for a dime on the dollar, and those customers would ...

8 big ideas to watch in '08 - CNN Money
Expect tremors to keep shaking the real estate market along multiple fault lines in 2008. Here are the winners and losers in the housing category: UP MARKETS: As a whole, the national housing market will finally hit bottom - and start bouncing back ...