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Today's Mortgage Terms starting with F Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending. Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans. Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending. FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers. First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages. Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan. Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default. View all Terms

Crosby home equity loans news:

Home sales rise as sellers drop prices - This is Money
Mortgage lending and house sales saw a slight increase in October as sellers finally began to drop their prices - but the market remains stuck in the doldrums. Sign of the times: Experts say a slight increase in mortgage lending and home sales is not ...

Millions need help to find – or keep – a roof over their heads - Times Online
With house prices crashing, repossessions rising, unemployment soaring and construction at a standstill, keeping a roof over our heads is set to get much tougher. Two years ago the housing market was booming, banks lent borrowers five times their ...

Tomorrow, Mr Darling must introduce morality into the City - Guardian Unlimited
The pre-Budget report is the most important economic moment in the 11-year life of the Labour government. Chancellor Alistair Darling has to walk the finest of lines. He has to marshal well-directed and overwhelming financial force to limit recession ...

First-time buyers at 'new low' - MSN UK News
The number of first-time buyers getting on to the property ladder sank to a new low during July. Just 17,300 people bought their first home during the month, 48 per cent fewer than in July last year and the lowest level since the Council of Mortgage ...

Making houses less affordable is perverse yet obvious - The Age
W HILE there are many causes of the financial crisis, the main one is the fall in US housing prices. Despite protests in 2005 from then Federal Reserve chairman Alan Greenspan that housing price bubbles in the US only appeared to be localised, it is ...

What is the single most important ramification of the election? - Atlanta Journal Constitution
Before I tackle this week’s topic, I must first congratulate Barack Obama. Even the election of a man with whom I deeply disagree makes me proud to be an American. I will probably object to his policy priorities, but the ascendance of our first ...

Fearing worst, GM pleads for aid - Globe and Mail
Hmm, last thread on this subject got replaced, but since the very first post is about the electric car, let me do a little copy 'n paste from that previous thread: Silver Standard (Used to be gold) from Canada writes: 'Who got rid of all this ...

Nick Robinson's Newslog - bbc
Congratulations, you are now the proud, or maybe not, owner of a bank or two. You must now be wondering what you'll get for your share of the Â£37bn. The chancellor's promising you, or at least your representative, a place on the board and no cash ...