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Mortage Terms


  > Pre-approve
Lender commits to lend to a potential borrower commitment remains as long as the borrower still meets the qualification requirements at the time of purchase.
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  > Loan
Money borrowed that is usually repaid with interest.
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  > Home inspection
An examination of the structure and mechanical systems to determine a homes safety makes the potential homebuyer aware of any repairs that may be needed.
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Did You Know?    
 
 
Announced By The Federal Trade Commission
The settlement with First Alliance Mortgage Company First Alliance was announced today by the Federal Trade Commission the states of Arizona California Florida Illinois Massachusetts and New York AARP and private attorneys for class action plaintiffs and for individual plaintiffs with unfair lending claims. The settlement must be approved by a federal district court in Santa Ana California.

 

 
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If you live in the following cities and need a mortgage lender you should contact our Cleveland mortgage lender as soon as possible:

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  • Reynoldsburg
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  • Wooster
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  • Zanesville
       
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Cleveland Audio & Video    
 
  Brokers Urge New Scale For Jumbo Mortgages
Audio, RM, 48 Kbps, 2:58:00 AM, 8/19/2005

Reporter Scott Horsley reports on federally sponsored underwriters Fannie Mae and Freddie Mac back mortgages up to $369,000. Without federal underwriting, home buyers pay a higher interest rate.
Source: National Public Radio
 
 
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