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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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Collin home equity loans news:
Foreclosures are up again - Fort Worth Star-TelegramTarrant County foreclosure postings for the first 11 months of the year are 20 percent ahead of the same period a year ago, according to figures released Thursday by Foreclosure Listing Service. Lenders posted 1,348 Tarrant County homes for the ...
Those designer duds for Sarah Palin and her family? Some, unworn, have ... - Los Angeles Times BlogsSome of the clothes, worth a reported $150,000, purchased by the Republican National Committee to outfit vice presidential nominee Sarah Palin and her family have already been "given back," John McCain said this morning on NBC's "Meet the Press." To ...
McCain Jumps on Another Biden Interview for Hit on Taxes - ABC News BlogsABC News' Matthew Jaffe reports: Sen. Joe Biden, D-Del., might be sticking to script on the stump, but his satellite interviews are giving Republican presidential candidate John McCain plenty to talk about. On Monday, the Republican campaign ...
Ron Howard's campaign video: Changes you can believe in? - PopwatchJo, you are a pathetic debater. First you rip me a new one for using the Huffington Post as a source because it's too liberal. Then when I point out that your articles are out-of-the-closet conservative publications, you tell me my info has to "come ...
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