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open mortgage news
Open Mortgage (6-month to 1 year terms are most common):
Allows borrowers to repay all or part of the principal amount of their mortgage at any time without penalty. You usually have to pay a higher interest rate for this type of mortgage since it offers greater prepayment flexibility. This flexibility makes open mortgages ideal for homeowners who plan to sell in the near future or who want to wait for rates to drop before locking into a longer-ter...Stocks Set for Flat Open, Sprint Eyed
NEW YORK (Reuters) - U.S. stocks were set for a flat open on Wednesday, a day after the Federal Reserve raised interest rates, as oil prices nudged higher, although a deal between Sprint and Nextel could help shares. Sprint Corp. (FON.N: Quote , Profile , Research ) on Wednesday agreed to buy wireless telephone company Nextel Communications Inc. (NXTL.O: Quote , Profile , Research ) in a cash and stock deal to gain more ...blanket mortgage
A blanket loan, or blanket mortgage, is a mortgage lient securing several parcels of property, frequently used by developers who have purchased a single tract of land intending to subdivide into individual parcels. The developer normal requires a 'partial release' clause so that individual parcels can be released from the blanket mortgage as they are sold....Stocks Drop as Fed Cites Inflation
NEW YORK (Reuters) - U.S. stocks tumbled on Tuesday as investors were unnerved by comments from the Federal Reserve that inflation pressures had picked up, sparking fears of more aggressive rate hikes ahead and pushing the major indexes down to multi-week lows.. The Fed, as expected, raised rates by a quarter point -- its seventh increase since last June. The Fed's comments about inflation push...For more information about open mortgage: .
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