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Today's Mortgage Terms starting with S

Second Mortgage:

An additional mortgage that has rights that are secondary to the first mortgage.

Seller’s Market:

Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.

Settlement Costs:

Money paid by the borrowers and sellers to complete the closing of a mortgage.

Settlement Cost (HUD Guide):

HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.

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Nueces mortgage rates news:
Financial News
Restaurant wins lawsuit against insurer - Corpus Christi Caller
CORPUS CHRISTI — A jury awarded a Corpus Christi restaurant $4.2 million in a civil suit after ruling that the restaurant's insurance company wasn't covering claims it should have. The San Luis Mexican Restaurant, 2110 Laredo St., sued its ...

Market upheaval is result of the failure to regulate - Corpus Christi Caller
All the economic news this week has been grim: the federal bailout Tuesday of the insurance giant AIG, the bankruptcy of Lehman Brothers, and the forced sale of Merrill Lynch. Before that, there was the government takeover of Fannie Mae and Freddie ...

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sources: informars.com, erate.com, Freddie Mac
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