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

Price home equity loans news:

Citigroup May End Up With Government Rescue After Stock Skids - Bloomberg
Nov. 22 (Bloomberg) -- The U.S. government may step in to rescue Citigroup Inc. after a crisis in confidence erased half the bank’s stock-market value in three days, according to investors and analysts. Citigroup’s $2 trillion of assets dwarfs ...

Negative equity may hit 40% of landlords - This is Money
Mounting problems in the buy-to-let market could leave as many as 40% of landlords in negative equity by the middle of next year, according to a new report. Ratings agency Standard & Poor has said that landlords who entered the market in the past two ...

Zacks Bull and Bear of the Day Highlights: Avon Products, Huntington ... - Businesswire.com
CHICAGO--( BUSINESS WIRE )--Zacks Equity Research highlights Avon Products, Inc. (NYSE: AVP) as the Bull of the Day and Huntington Bancshares, Inc. (Nasdaq: HBAN) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Ambac ...

Citigroup's Pandit Doesn't Plan to Break Up Company (Update3) - Bloomberg
Nov. 21 (Bloomberg) -- Citigroup Inc. Chief Executive Officer Vikram Pandit told employees he doesn't plan to break up the company, aiming to reassure workers as the stock resumed a skid that has erased more than half its value in three days. Pandit ...

Landlords in negative equity fear - Channel 4 News
Up to 40% of landlords with a buy-to-let mortgage could be in negative equity by the middle of next year, a ratings agency warned. Standard & Poor's Ratings Services said that between 20% and 40% of buy-to-let borrowers could owe more on their ...

First Trust Strategic High Income Fund III Declares Monthly Common ... - Businesswire.com
WHEATON, Ill.--( BUSINESS WIRE )--First Trust Strategic High Income Fund III (the "Fund") (NYSE: FHO) today declared the Fund’s regularly scheduled monthly distribution, payable on December 12, 2008 to shareholders of record as of December 3, 2008 ...

What to Do if Banks Cut Home Equity Line of Credit Limits - Newsblaze.com
The economic downturn is affecting not only Americans' home values, but their home equity lines of credit, said Ethan Ewing, president of free online consumer portal Bills.com . "A few years ago, Americans who owned homes were encouraged to use homes ...

Housing woes are bad but will likely get worse, some economists ... - Atlantic City Press
WASHINGTON If you think the housing slump can't get much worse, Martin Feldstein thinks that both home prices and the broader economy can - and very likely will - get a whole lot worse. The Harvard University professor and former chief economic ...

Citigroup's options dwindle as shares under $4 - Associated Press
NEW YORK (AP) -- Citigroup's options are dwindling along with its stock price as the credit landscape deteriorates and fears escalate about future loan losses at the company. As the banking giant's shares slid below $4, analysts said Friday it may be ...

Asian Equity Losing Streak Prolonged - Forbes
Investors moved money out of equities for a third straight day Wednesday, with more unwelcome news from financial stocks hurting and exporters in Japan still battling the effects of a strong yen. The prospect of recession looms for Australia in 2009 ...