News

The President has signed into law legislation that will allow HUD's Federal Housing Administration (FHA) to continue providing targeted mortgage assistance to homeowners. The Hope for Homeowners program will continue FHA's existing and successful efforts to provide aid to struggling families trapped in mortgages they currently...

Margin -
The amount a lender adds to the quoted index rate for an adjustable rate loan to determine the new interest rate.


Maturity -
The "Due Date" of a loan.


Merged Credit Report -
A credit report that reports data from two or more major credit repositories.
...

A loan modification occurs when your lender changes the terms of your existing loan. A lender can modify your loan by either reducing the current interest rate, extending the length of your existing loan, reducing the amount that you owe in delinquent payments, or in some cases even by reducing the amount of you owe on your current loan balance....