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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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Dallas home equity loans news:
More may qualify for 'Hope for Homeowners' program - Dallas Morning NewsWASHINGTON — The government will let more borrowers qualify for a new $300 billion program that lets troubled homeowners swap risky loans for more affordable ones, a Bush administration official said Wednesday. Department of Housing and Urban ...
Consumers file for bankruptcy in higher numbers - Dallas Morning NewsThe economy's deep troubles are pushing a growing number of struggling consumers into bankruptcy. Often they have much more debt than those who filed in previous downturns. Dropping home values, shrinking incomes and the near disappearance of credit ...
Geithner's Treasury - ForbesIn selecting a Treasury secretary, President-elect Barack Obama appears to have opted for candidate of both change and experience: New York Federal Reserve Bank President Timothy Geithner. If a report by NBC News turns out to be true, Obama will name ...
The Next Subprime Crisis Looms - FHA-Backed Loans - Free Internet PressThe same people whose reckless practices triggered the global financial crisis are onto a similar scheme that could cost taxpayers tons more. As if they haven't done enough damage. Thousands of subprime mortgage lenders and brokers - many of them the ...
WHY WE SHOULDN'T BAIL OUT THE BIG THREE AUTOMAKERS - New York PostIt's not like there's no money wanting to fund that process. As cash fled the stock markets this year, much of it is sitting around in private equity funds looking for a good home.Some experts feel a pre-packaged restructuring could be sold to ...
Chase has no use for WaMu’s banking style - MSNBCJ.P. Morgan Chase has a message for Washington Mutual customers: Expect to do business with a more conventional bank. Chase, which acquired the failed WaMu in late September, will discard the Seattle bank’s cafe-style branches that were dubbed ...
Once again, the subprime wolves are on the prowl - WTOL-TVAs if they haven't done enough damage. Thousands of subprime mortgage lenders and brokers -- many of them the very sorts of firms that helped create the current financial crisis -- are going strong. Their new strategy: taking advantage of a long ...
Hotel developer snags a construction loan - Houston ChronicleHotel developer Nick Massad just closed on a construction loan to build a $55 million Embassy Suites near the George R. Brown Convention Center. Massad, president of Houston-based American Liberty Hospitality, was ready to start construction on the ...
Paulson, Bernanke testify, get grilled - MSNBC FirstreadBarney Frank 's House Financial Services Committee heard today from three panels of witnesses on the Emergency Economic Stabilization Act of 2008. The economy's big guns were on the first panel: Treasury Secretary Henry Paulson , Federal Reserve ...
Chrysler Canada seeks $1-billion - Globe and MailDarren Moore from Belleville, Canada writes: "Chrysler Canada spokeswoman Mary Gauthier would not comment on the company's $1-billion request to the Canadian governments." They'll unabashedly ask us - you and me - for money, but they won't talk to ...
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