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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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Duchesne mortgage rates news:
Financial News
European Stocks Fall on Credit, Economy Concerns; Siemens Drops - Bloomberg
Oct. 2 (Bloomberg) -- European stocks fell for the first time in three days after a record decline in short-term borrowing by companies and a jump in U.S. jobless claims heightened concern that the credit crisis is spilling over into the broader ...

Wachovia posts record US$23.9b quarterly loss - South China Morning Post
United States bank Wachovia Corp has posted a record US$23.9 billion third-quarter loss, reigniting investor fears that the subprime crisis will continue to maul corporate profits. The loss, a record for any US lender embroiled in the global credit ...

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