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Today's Mortgage Terms starting with N

Notice of Default:

A step in the foreclosure process in which the lender formally informs the court that the borrower is in late in payments.

Non-Assumption Clause:

A provision in a mortgage contract preventing the assumption of the mortgage by another borrower without the lenders permission.

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Imminent housing bill full of hope but few answers - Chicago TribuneWASHINGTON—After six months of haggling and political gamesmanship, a massive housing relief bill is heading for final approval. Though it has hundreds of pages and dozens of initiatives, including revamping federal oversight of mortgage giants ...
With good news from Fed, all mortgage rates drop - Philadelphia Daily NewsWASHINGTON - Mortgage rates fell this week with 30-year mortgage rates dropping to the lowest level in six weeks as investors became less worried that the Federal Reserve would soon tighten credit policy to stall inflation. Freddie Mac, the mortgage ...
Fannie, Freddie clout has deep roots in Washington - Palm Beach InteractiveWASHINGTON — For years, mortgage giants Fannie Mae and Freddie Mac tenaciously worked to nurture, and then protect, their financial empires by invoking the political sacred cow of homeownership and fielding an army of lobbyists, power brokers and ...
Mortgage rates decline as interest-rate fears ease - Baltimore SunWASHINGTON - Mortgage rates fell this week, with 30-year mortgage rates hitting a six-week low as investors' concern that the Federal Reserve would soon raise interest rates abated. The mortgage company Freddie Mac reported yesterday that 30-year ...
Michelle Singletary: Back-to-basics theme anchors program for mortgage ... - Indianapolis StarThe Neighborhood Assistance Corporation of America is doing something that should have been done a long time ago. The nonprofit advocacy organization is in the second day of a free five-day Save the Dream of Homeownership event in Washington where ...
Details will determine success of HOPE mortgage assistance plan - St. Petersburg TimesWASHINGTON — After six months of haggling and political gamesmanship, a massive housing relief bill is heading for final approval. Though it has hundreds of pages and dozens of separate initiatives — including revamping federal oversight of ...
Worries about Fed, inflation sink 30-year mortgage rates - Tacoma News TribuneWASHINGTON – Mortgage rates fell this week, with 30-year rates dropping to the lowest level in six weeks as investors became less worried that the Federal Reserve would soon tighten credit policy to stall inflation. Mortgage company Freddie Mac ...
Robert Novak column from The Washington Post - Washington PostAs financial storm signals appeared the past 18 months, some Bush officials urged drastic reform of Fannie Mae and Freddie Mac . But, according to internal government sources, Treasury Secretary Henry Paulson objected because it would look "too ...
Editorial: Skeptical eyes on reverse mortgages - Minneapolis Star Tribune"You have a lot of unemployed mortgage people, brokers, bankers who are in trouble, looking for the next big profit center. And there's over $4 trillion in equity held by people over the age of 62. ...There's a lot of money to be made.'' For a cash ...
Home Is Where the Heart Used to Be - Washington Post"The prospect of possessing one's own house," wrote educator George B. Emerson in 1871, "and that a pleasant one, with a garden and trees, and room for the children to play, in safety, must be a strong motive with any man to regularity, good conduct ...
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