Today's Mortgage Terms starting with P

Payment Cap:

A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.

Point:

A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.

Pre-Approval:

The process of calculating how much money a potential homebuyer could borrow.

Prepayment Penalty:

A lender's charge to the borrower for paying down the loan before the end of its term.

Pre-Qualification:

A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.

Principal:

It is the amount of money borrowed or owed, excluding interest.

View all Terms

Green home equity loans news:

GM, Chrysler scale back glitz at LA auto show - AOL
LOS ANGELES -Chrysler and General Motors are still showing off their newest vehicles at the Los Angeles Auto Show, but their displays were noticeably quiet Wednesday while Asian and European companies unveiled new models that will likely chip away at ...

Update: Kagen opposes automakers' bailout; others from state open to ... - Green Bay Press-Gazette
Senate proposals to rescue the carmakers appear stalled because key Republicans oppose using more taxpayer money to rescue companies they consider badly managed. Congress approved $25 billion in federally subsidized loans through the Energy ...

Sun Cutting 6,000 Workers, 18 Percent of Force - Wired News
SAN FRANCISCO (AP) -- The economic downturn might be pushing Sun Microsystems Inc., one of the storied names in computing, to the brink of extinction. The company's servers and software helped stimulate the Internet boom, and its engineering acumen ...

Plans change as some owners get upside down on loans - Austin American-Statesman
WASHINGTON — Think of them as the walking wounded: The homeowners who are upside down on their mortgages, owing much more than their home is now worth. But they're still on their feet and still sending their payments each month. In this credit ...

Underwater, many homeowners struggle to pay loans - Providence Journal
WASHINGTON — Think of them as the walking wounded: The homeowners who are upside down on their mortgages, owing much more than their home is now worth. But they’re still on their feet and still sending their payments each month. In this credit ...

A weak economy and falling home prices leave many recent buyers owing ... - Florida Times-Union
What goes up must come down. As the housing boom of 2005-2007 has gone bust, falling values have left the buyers of a fourth of all homes purchased in this area during the past five years owing more than their homes are believed to be worth. In fact ...

Markets and Market Timing - FXStreet.com
This morning I was listening to a cable news network and in the span of about three minutes, I heard that home foreclosures increased 25%, job losses were on record pace, and Congress was meeting today to figure out where the 700 billion dollar ...

Thornburg Mortgage, Inc. The Wall Street Analyst Call Transcript - Seekingalpha.com
Good morning, ladies and gentlemen. In our ongoing attempt to adhere to the published schedule, I would like to introduce the next company in today's financial services program, Thornburg Mortgage who has presented with us in the past about every two ...

Latest Pictures - Newstrack India
Lucknow , Sept.19 (ANI): President Pratibha Patil will be the chief guest at a special convocation of the Lucknow University on September 23. ... will be the third President to visit Lucknow University after V V Giri and Giani Loans for India to buy ...

Most Visited - Nolanchart.com
(Conservative Libertarian) The virtual crash in its stock price indicates that there is something seriously wrong with GE. The stock reached $53 at its peak in 2000. It closed below $17 this past week, the lowest level since the mid-1990s. CEO ...