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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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Victoria mortgage quotes news:

UPDATE 1-General Growth gets two-week loan extension - Forbes
PHILADELPHIA, Nov 30 (Reuters) - Shopping mall owner General Growth Properties Inc said on Sunday it won a two-week extension on the maturity of $900 million in mortgage loans, giving it a reprieve as it talks to its lenders about a longer term ...

EU banks must improve liquidity plans-c.bank officials - Forbes
FRANKFURT, Nov 28 (Reuters) - European Union banks must dramatically improve back-up plans for coping with unexpected liquidity shortfalls, a report released by the European Central Bank said on Friday. The report, by a committee made up of EU ...

Opposition takes hit as Tories move to cut $27-million subsidy for ... - Globe and Mail
What Harper should do is deny the vote in the next election to anyone who didn't vote in this past election. Then Harper's enthusiasts would have a commanding -- well, marginal -- advantage next time. Who needs democracy when you're a self-righteous ...

November 2008 - Weekly Standard
The terror assault on Mumbai is in its second day as Indian security forces struggle to regain control of the capital and clear the remaining terrorists from two hotels and a residential complex. Hundreds of Indian Naval and National Security Guards ...

Fears of home grants rorting - News.com.au
Some dodgy real estate agents and mortgage brokers are encouraging the fraud. They are suggesting buyers change the date of existing contracts to fall after October 14 so they qualify for the latest lucrative federal government grants. Forward-dating ...

Comment: Victoria real estate is still a strong market - Victoria Times Colonist
There is no denying the economic downturn that started a month ago has shell-shocked the world, but the question we need answered here is "How does it affect us?" I'd suggest that it isn't our economy that has stalled, it's our thinking. We have ...

Homeowners' new reality: You're suddenly poorer - Globe and Mail
Adil Burney from Canada writes: For 2009, CREA is delusional. Suppose we end December 2008 at -9% YoY. To end up a -2% for the full year 2009, we would probably have to bottom in December 2008 and then get to a around 7% by late 2009. CREA is talking ...

larry price from Arnstein, Canada writes: Is this the new Harper? I ... - Globe and Mail
Jack Bauer from Canada writes: cons suck don't want to have to say i told you so from b-town, Canada writes: surprising considering conservative arrogance and the fact that everybody is saying oh the liberals are dead, gimme a break. the natural ...

Burris act just part of the Grey Cup show - Vancouver Sun
MONTREAL - Part of the beauty of covering 25 Grey Cups - and part of the punishment, too - is that certain patterns become readily apparent as history repeats itself ... well, repeatedly. For instance, it was humorous when Jeremy O'Day of the ...

Law-Breaking RNC? MSNBC Insists McCain 'Robo-Calls' Might Be Illegal - News Busters
In the latest wave of defensive fervor against connecting Obama and bomber Bill Ayers, some journalists are emphasizing that "robo-calls" from the RNC could be "illegal," despite the fact that in most federal and state jurisdictions, laws against ...