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73-529: The Silver City Daily Press traces its origins to the 1896 establishment of the Silver City Independent , a weekly newspaper originally published on Tuesdays in Silver City, New Mexico . The Independent was founded and edited by George Norton, a pioneer merchant in the area, and published its first issue on June 30, 1896, as a "non-partisan, independent, progressive local newspaper." However, despite

146-407: A CD-ROM or Zip disk , or sent to the printing press (either located at the newspaper office or an off-site publication plant) by e-mail or FTP site. Often, the staff of a weekly newspaper is smaller, with employees having several duties. For instance, a news editor may also sell advertising, while reporters could also be photographers. The size of the news staff varies, depending on the size of

219-652: A daily , and renamed it the Silver City Daily Press and Independent . At that time, the Ely family also owned Gallup Independent and the Yuma Arizona Sentinel newspapers. The head of the family, Colonel Clyde Ely, appointed his son, William F. Ely, as the president and co-publisher of the Silver City Daily Press . The newspaper moved to the Silver City Daily Press building on Market Street following

292-448: A municipality or other government body must designate a newspaper of record . The official newspaper is decided based on geographical area, and often more than one newspapers are given this designation. Official newspapers receive the government's public notices, and since they are considered advertising, it can be a source of revenue for newspapers. Weekly newspapers often have one or more advertising sales representatives whose job it

365-407: A property in addition to the primary mortgage . Depending on the time at which the second mortgage is originated, the loan can be structured as either a standalone second mortgage or piggyback second mortgage. Whilst a standalone second mortgage is opened subsequent to the primary loan, those with a piggyback loan structure are originated simultaneously with the primary mortgage. With regard to

438-629: A New Mexico District Judge. In April 2007, the Silver City Daily Press received the Mark Twain Award from the New Mexico Associated Press Managing Editors (NMAPME). First awarded by NMAPME in 1996, the Silver City Daily Press receive the Mark Twain Award in 2007 for their outstanding member cooperation throughout the year 2006. In 2008, the newspaper switched from using its own printing presses to outsourcing

511-571: A per-story rate. Many weekly newspapers started as family-owned businesses, covering one or two communities and handling all editorial and business functions. The Tribune Newspaper in Humble, Texas is one example. Typically all business functions, along with the editor-in-chief would be family members, while non family members would assume reporting positions. Another example is the Campbell County Observer published in N.E. Wyoming. The owner

584-447: A portion of the outstanding debt owed by the buyer. Hence, the option of opening a second mortgage is specifically applicable to buyers who have insufficient funds to pay a 20 percent down payment and wish to avoid paying PMI. Typically, there are two forms in which the piggyback second mortgage can take. The more common of the two is the 80/10/10 mortgage arrangement in which the home buyer is granted an 80 percent loan-to-value (LTV) on

657-476: A program such as Adobe Photoshop . After the copy and advertisements have been placed on the page, the editor will print out a proof and make any changes, if necessary. Sometimes, they will consult with reporters on such things as double-checking facts, proofreading headlines and other copy, or writing cut-lines for photographs. Once everyone is satisfied, a final proof is printed out and prepared for publication. The pages can be placed on dummy sheets, burned to

730-623: A publisher overseeing several newspapers, with a specific editor for each newspaper. Generally speaking, the staff of corporate-owned chain weeklies do not have deep connections into the communities and do not prioritize accountability for local governments. The switch from locally owned weekly newspapers to corporate chains, which is often driven by the loss of advertising revenue , is associated with increases in taxes, reduced involvement by citizens in local government , fewer citizens voting in elections, more wasteful spending, and even higher levels of corruption . At Christmas Day, depending on

803-437: A second mortgage. In aggregate, as the prices in the real estate market continues to rise, the demand for second mortgages and other non-traditional mortgage products tends to increase. Lower interest rates increase the capacity to sustain a given level of debt, encouraging homeowners to withdrawal housing equity in the form of second mortgages. Specifically, lower interest rates reduce the interest charged on loans and decrease

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876-781: A significant role in the rapid increase of second mortgages during the early 2000s prior to the Global Financial Crisis (GFC) in 2007. This was heavily influenced by economic incentives and opportunities that arose during the United States housing bubble which encouraged riskier loans and lending practices. Mortgage brokers and lenders offered affordability products with 100 percent LTV. This permitted potential homeowners to purchase properties with zero down payment and limited borrower documentation . Additionally, Fannie Mae and Freddie Mac provided similar deals to low-income borrowers including loans with LTV ratios exceeding 90 percent of

949-1332: A similar format as daily newspapers (i.e., news, sports, obituaries , etc.). However, the primary focus is on news within a coverage area. The publication dates of weekly newspapers in North America vary, but often they come out in the middle of the week (Wednesday or Thursday). However, in the United Kingdom where they come out on Sundays, the weeklies which are called Sunday newspapers , are often national in scope and have substantial circulations (20 to 50% higher on average than their daily sister publications). Other types of news publications come out weekly on newsprint but are not considered general newspapers. These cover specific topics, such as sports (e.g., The Sporting News ) or business (e.g., Barron's ), and have larger circulations and cover much larger geographic-coverage areas. Alternatively, other news publications come out weekly on magazine-style print but are still considered general newspapers (e.g. The Economist ). The first weekly newspapers were Relation and weekly newspaper Aviso , which were published at beginning of 17th century. The Relation started around 1605 in Straßburg by Johann Carolus and

1022-451: A sports reporter takes great ownership in a specific team and writes stories containing detailed accounts of games. Several photographs of the games may accompany the story. Other stories preview games, usually between traditional rivals, to build interest. Family news pages include announcements of births, engagements, weddings, landmark birthdays and anniversaries, and obituaries . In the past, correspondents often submitted stories along

1095-406: A standalone deal or a piggyback loan. Standalone second mortgages are opened subsequent to the primary mortgage loan to access home equity without disrupting the existing arrangement. Typically, the home buyer purchases a primary mortgage for the full amount and pays the required 20 percent down payment . During the loan term, monthly mortgage repayments and appreciating real estate prices increase

1168-467: A variable interest rate. During the borrowing period, homeowners are permitted to borrow up to a predetermined amount which must be repaid during the repayment period. Whilst variable interest charges may permit lower initial repayments, these rates have the potential to increase over the duration of the repayment period. Second mortgage interest rate payments are also tax deductible given certain conditions are met. This advantage of second mortgages reduces

1241-466: A weekly newspaper receives most of its revenue from display advertising and classified advertising . Most weekly newspapers are laid out one or more days before the publication date. Sometimes, the layout of pages is staggered, to allow for multiple deadlines. Like larger newspapers, most weekly newspapers these days are paginated (or laid out) using computer software, using programs such as Adobe PageMaker , Adobe InDesign or Quark Xpress . Layout

1314-477: Is issued once or twice a week in a wide variety broadsheet , magazine , and digital formats. Similarly, a biweekly newspaper is published once every two weeks. Weekly newspapers tend to have smaller circulations than daily newspapers, and often cover smaller territories, such as one or more smaller towns, a rural county, or a few neighborhoods in a large city. Frequently, weeklies cover local news and engage in community journalism . Most weekly newspapers follow

1387-400: Is the appearance of the page and includes photographs (along with cutlines, or captions identifying the photograph's content and people), copy (the text and its typefont), headlines and white space. At many newspapers, photographers, reporters and editors use digital cameras to take photographs and download selected photographs using a card reader. The photographs are cropped and edited using

1460-403: Is the increase in cost of purchasing a property in terms of down payments and monthly mortgage repayments. Whilst conventional primary mortgages permit home buyers to borrow up to 80 percent of the property's value, they are conditional on a 20 percent down payment. Home buyers who have insufficient funds to meet this requirement must pay primary mortgage insurance (PMI) in addition to interest on

1533-522: Is the publisher who also performs advertising sales, writing, distribution, books, and other duties that may be required. His wife, Candice, is an advertising saleswoman, his nine-year-old and four-year-old children are the insert stuffers, and they all are door-to-door subscription salespeople. As newspapers became more expensive to operate and family members declined to join the business, many weekly newspapers were purchased by larger chains of weeklies. Some family-owned newspapers are operated as chains, with

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1606-463: Is to not only provide smaller newspapers with a news-sharing system, but to deliver to them quality content that supplements their local news-gathering operations." On April 25, 2014, the Daily Press announced both in a front-page story and on its website that it would cease publication after its next issue, which would be the following Monday, April 28. The story cited declining advertising revenues as

1679-422: Is to sell display advertisements. Most advertisements are from local businesses (although some larger companies from outside the coverage area may advertise). Other advertisements are called classifieds , which are placed by people who want to buy or sell something (such as a car or real estate), employers who have job openings, or property owners who have rental property available. Along with paid subscriptions,

1752-612: The Aviso started in January 1609 in Wolfenbüttel . Many weekly newspapers in North America follow a similar format: News coverage usually focuses on local events such as car accidents or house fires, plus local government meetings, such as city councils or school boards, and police blotters. A weekly newspaper often covers sports teams from one or more area schools (mostly high schools ), communities, or professional teams if any exist. Often,

1825-488: The 1980s, the Australian mortgage market was dominated by a small number of banks and lending institutions. This imposed limited competitive pressures as the financial system was closed to foreign banks and offshore transactions. Due to stringent regulatory practices in the 1960s, banks were competitively disadvantage relative to non-bank financial intermediaries which led to a loss in market share . This continued until

1898-579: The INDEPENDENT in order that our expressions may not be construed to be those of a strict party organ." The original incarnation of the Silver City Independent was, perhaps unsurprisingly given its location, dedicated to the cause of Free silver , and carried the slogan "Free and Unlimited Coinage 16 to 1." on its Page 2 masthead throughout its first two years of publication. Norton announced that "owing to continued ill health and pecuniary interests elsewhere," he had "disposed of The Independent , together with

1971-598: The Year by Silver City Police . In 2013, the Silver City Daily Press became one of 11 member newspapers of the Community News Exchange. In addition to receiving the ability to publish content in an average of 67,000 newspapers per publication day, the Silver City Daily Press obtained publishing rights access through the exchange to small-town community news from member newspapers around New Mexico. As described by Community News Exchange editor Tom McDonald, "The objective

2044-412: The afternoon of that same day. Seven months later, the newspaper discontinued its Saturday edition due to economic factors , postal rates, and printing costs, and began devoting more time to its online edition. Joseph "Joby" Aguirre, one of the pressman laid off from the Silver City Daily Press in 2008 when the newspaper discontinued its local printing operation, went on to be named 2010 Police Officer of

2117-435: The amount borrowed each month may vary at the homeowner's discretion. These loans offer flexible repayments schedules and are subject to variable interest rates that may potentially increase or decrease during the loan term. Borrowers have access to the line amount which is predetermined at the time of loan origination but are not required to draw amounts if they do not wish to. The revolving credit facility provides borrowers

2190-546: The amounts owed. If the borrower were to default on their repayments, the lender is not able to sell assets to cover the outstanding debt. Accordingly, second mortgages not only ensure access to greater amounts but also lower interest rates comparative to unsecured loans. With increased cash flow, second mortgages are used to finance a variety of expenditures at the discretion of the borrow including home renovations, college tuition, medical expenses and debt consolidation. Piggyback second mortgages are originated concurrently with

2263-410: The borrower's taxable income by the value of the interest expense. In general, total monthly repayments on the second mortgage are lower than that of the first mortgage. This is due to the smaller amount borrowed in the second mortgage compared to the primary loan rather than the difference in interest rate. Second mortgage interest rates are typically higher due to the related risk of such loans. During

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2336-443: The building's completion in 1937. In 1995, the paper's publisher William F. Ely died. At his death, his wife of 38 years, Betty Jane Head Ely, became the owner of the newspaper. In 1999, the Silver City Daily Press took first place in the column writing category at the annual New Mexico Associated Press Managing Editors awards. The newspaper also took second place in both editorials and sports photo categories. A year later in 2000,

2409-648: The community). Others may be recent college graduates early in their career, and are trying to gain experience and/or clips. Many newspapers have at least one news clerk or editorial assistant who is responsible for typing family news and obituaries , as well as news releases announcing upcoming events. A circulation manager keeps track of subscribers (this can range from only a couple hundred to tens of thousands of subscribers), and may also be in charge of classified advertising . As well as full-time staff reporters and photographers, many weekly newspapers also employ correspondents (sometimes called stringers), often paid on

2482-410: The cost of financing a home or enable homebuyers to qualify for more expensive properties. From a lender's perspective, increasing real estate prices create the incentive to originate mortgages as the credit risk is compensated by the increasing value of the property. For the same reason, existing homeowners have access to greater home equity, which can be used as a source for additional funds by opening

2555-469: The costs of processing, underwriting and funding the second mortgage. Also referred to as the lender's fee, points are a percentage of the loan that is charged by the lender. With each point translating to one percentage of the loan amount, borrowers have the option to pay this fee in order to decrease the loan interest rate. Whilst paying points increases upfront payments, borrowers are subject to lower interest rates which decrease monthly repayments over

2628-457: The day of the week that Christmas Day is on, weekly newspapers would change the day in many countries. For example, Sunday newspapers are moved to Christmas Eve or Saturday when Christmas Day is on Sunday, and other weekly newspapers are expected to change their day at Christmas to save outlets and businesses from opening on Christmas Day by law. Second mortgage Second mortgages , commonly referred to as junior liens , are loans secured by

2701-425: The editor , written by readers on a specific topic. The public-record section usually includes summaries of police-incident reports, fire-department calls and court dispositions (or, the outcome of a criminal proceeding). Many newspapers also publish a list of building permits that have been issued in its circulation area. Public notices typically fall into one of two categories: Laws in many US states dictate that

2774-423: The entire loan term, both of which are determined when the second mortgage is initially granted. These close ended loans require borrowers to make principal-and-interest repayments on a monthly basis in a process of amortisation. The interest repayments are the costs associated with borrowing whilst the principal paid reduces the loan balance. With each subsequent repayment, the total amount remains constant however

2847-498: The event of foreclosure, the primary mortgage is repaid first with the remaining funds used to satisfy the second mortgage. This translates to a higher level of risk for the second mortgage lender as they are less likely to receive sufficient funds to cover the amounts borrowed. Consequently, second mortgages are subject to higher interest rates to compensate for the associated risk of foreclosure. Second mortgagors are subject to upfront fees associated with closing cost of obtaining

2920-403: The family business operating weekly newspapers in multiple towns. The chain newspapers can be either regional or national chains. Sometimes all advertising functions are combined, with a weekly newspaper containing both ads for local businesses and for businesses in the chains area. This larger circulation can assist in bringing in national advertising to weeklies. Weeklies in chains may also have

2993-430: The first lien holder position. Due to lender guidelines, it is rare for conventional loans for a property having a third or fourth mortgage. In situations when a property is lost to foreclosure and there is little or no equity , the first lien holder has the option to request a settlement for less with the second lien holder to release the second mortgage from the title. Once the second lien holder releases themselves from

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3066-435: The first mortgage to finance the purchase of a home in a single closing process. In a conventional mortgage arrangement, homebuyers are permitted to borrow 80 percent of the property's value whilst placing a down payment of 20 percent. Those unable to obtain the downpayment requirement must pay the additional expense of private mortgage insurance (PMI) which serves to protect lenders during the event of foreclosure by covering

3139-456: The flexibility of drawing down amounts only when required to avoid interest on unnecessary credit. This ensures a minimum debt level is maintained as monthly repayments correspond only to the amounts used rather than the full amount available. Home equity loans are commonly used when borrowers anticipate future consumption expenditures as well as credit shocks which affect access to credit in the future. Second mortgages can be structured as either

3212-401: The full amount at the time of loan origination. Consequently, homeowners are required to make principle-and-interest loan repayments for the entire amount on a monthly schedule. The fixed interest rate charged on such loans is set at the time of loan origination which ensures constant monthly repayments throughout the loan term. In contrast, home equity lines of credit are open-ended and based on

3285-558: The good will and subscription list, to the Independent Publishing Co." in a Page 2 farewell letter published on February 15, 1898. The new Independent Publishing Co. was owned and operated by William B. Walton , a Silver City attorney and Democratic politician, who combined his Grant County Democrat into the Independent , a combination that was advertised atop each edition through the end of 1898. The new publisher's first act

3358-451: The job of printing the daily paper to Signature Offset, a printing firm located in Las Cruces, New Mexico . The decision to hire an outside printing house was based on the cost of upgrading the press equipment at the Silver City Daily Press to digital technology. At that time, the contents of the newspaper were sent to Signature Offset at 10 a.m. each day and distributed around Silver City by

3431-545: The lines of "Mr. and Mrs. John Jones had company from out-of-town last week", although these types of stories – commonly called "Neighborhood News" or some similar name – are largely a thing of the past. Larger weeklies, especially those that are part of chains, also offer lifestyle features, reviews of local theater and arts, restaurant reviews and a food section that may concentrate on local recipes. Like daily newspapers, weekly newspapers often have an editorial page. Editorial pages also include letters to

3504-743: The loan term. Second mortgages are dependent upon the property's equity which is likely to vary over time due to changes in the property's value. Professional appraisers who assess the market value of the home result in an additional cost to potential borrowers. A broker fee, associated with the service of providing advice and arranging the second mortgage, is also incurred by borrowers. Escalating real estate prices are common in low interest rate environments which increase borrowing capacity, in addition to lower underwriting standards and mortgage product innovation that provide greater access to credit. These factors contribute to an increase in real estate demand and housing prices. The implication of such environments

3577-760: The market. This component of the non-banking sector grew significantly during the 1990s and contributed to 10 percent of all housing loans written. Due to high real estate demand, housing loans became extremely profitable which increased competition for incumbent banks. Whilst existing lenders began to offer honeymoon loans with discounted interest rates for the first year, they were hesitant to lower standard variable rates as this would decrease interest rates on existing loans. In contrast, mortgage brokers utilised securitisation to obtain cheap funding and offer rates 1 to 1.5ppt lower than existing lenders. By originating loans and selling them to securities, mortgage brokers obtained commissions and fees for origination without retaining

3650-429: The method in which funds are withdrawn, second mortgages can be arranged as home equity loans or home equity lines of credit . Home equity loans are granted for the full amount at the time of loan origination in contrast to home equity lines of credit which permit the homeowner access to a predetermined amount which is repaid during the repayment period. Depending on the type of loan, interest rates charged on

3723-399: The mortgage in addition to ongoing payments . These include application and origination fees as well as charges to the lender, appraiser and broker. The application fee is charged to potential borrowers for processing the second mortgage application. This fee varies between lenders and is typically non-refundable. The origination fee is charged at the lender's discretion and is associated with

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3796-457: The mortgage market was financially deregulated in the 1980s which permitted banks to operate more competitively against finance companies, merchant banks , and building societies . Following this, the mortgage market was additionally exposed to international competition which granted greater levels of credit to financial institutions. During this period the use of financial brokers between borrowers and lenders increased as mortgage brokers entered

3869-590: The name, even at its beginning the newspaper wasn't nonpartisan, at least not in the modern sense of the word. In a position statement published in the first issue of the Independent , Norton spelled out what the name of the newspaper was intended to signify: "Now where this paper will differ from the average democratic paper will be in this particular — while we are willing to laud its virtues, we shall hold it as our right and duty to criticize its follies. This will be regarded as bad party politics by dyed-in-the-wool democrats, and for this reason we have christened this paper

3942-448: The newspaper again took first place in the column writing category but additionally received first place for photo essay. They also received awards for their editorials, feature photos, and features columns in 2000. At the end of 2006, owner and paper manager Betty Ely died, leaving ownership of the newspaper to her three children, Wes Lorier, Clyde Ely, and Christina (Tina) Ely. Before her death, Betty Ely passed control to Tina, who became

4015-643: The newspaper and its circulation area. Some papers have a staff of several reporters , with each reporter having a specific beat (much like a daily newspaper, with beats including schools, local government, business, police, etc.). Many smaller newspapers, however, may have as few as one reporter to cover the entire circulation area, meaning they are responsible for the entire content of the newspaper (e.g., government, business, schools, crime, features, etc.). The experience of weekly newspaper reporters varies. Some may have years of experience (either they are satisfied where they are employed, and/or may be well-established in

4088-402: The newspaper was first published under the ownership of Seibel's Silver City Independent Publishing Company, LLC, on Tuesday, April 29 — without missing a day of publication. 32°46′17″N 108°16′40″W  /  32.771475°N 108.277916°W  / 32.771475; -108.277916 Weekly newspaper A weekly newspaper is a general-news or current affairs publication that

4161-543: The non-banking sector also offered a variety of financial products in excess of traditional loans and mortgages. The products included second mortgages, non-conforming loans, reverse mortgages , share equity mortgages, internet and phone banking , mobile mortgage lenders, redraw facilities, offset accounts and debit cards linked to mortgages. As the growth of financial provision increased, banks were pressured to utilise these products and accept lower margins. Poor underwriting standards by banks and lending institutions played

4234-419: The portion related to the interest cost decreases whilst the amount corresponding to the principal increases. This ensures the loan is completely paid off at the end of the payment schedule. Home equity loans are commonly used for debt consolidation or current consumption expenditures as there is generally lower risk associated with fixed interest rates. Home equity lines of credit are open ended loans in which

4307-433: The primary loan. This expense can vary in cost depending on the size of down payment, credit score and type of loan issued. For this reason, second mortgages are particularly attractive in appreciating housing environments as they permit home buyers with a less than 20% down payment to borrow additional amounts to qualify for a primary mortgage without the purchase of PMI. These non-traditional mortgage products can decrease

4380-578: The primary mortgage and 10 percent LTV on the second mortgage with a 10 percent down payment. The piggyback second mortgage can also be financed through an 80/20 loan structure. In contrast to the previous method, this arrangement does not require a down payment whilst still permitting home buyers 80 percent LTV on the primary mortgage and 20 percent LTV on the second mortgage. Varying interest rate policies apply to different types of second mortgages. These include home equity loans and home equity lines of credit. With regard to home equity loans, lenders advance

4453-412: The primary reason for the impending closure. After reading the announcement in the paper, former Daily Press General Manager Nickolas Seibel assembled a group of local investors to back him in a purchase of some of the newspaper's assets, including the name, website, archives and a few pieces of equipment. The potential deal was announced in what was to be the newspaper's final issue on Monday, April 28, and

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4526-453: The printing contracts for Grant County government, which after the combination of the two papers made the Independent the official newspaper of Grant County. Walton continued to publish the newspaper for more than 35 years, until ill health forced him to put the paper up for sale, and on October 1, 1934, the Ely family purchased the Independent . On June 26, 1935, the Elys converted the paper into

4599-427: The property's equity. In such instances, standalone second mortgages are able to use the property's equity as collateral to access additional funds. This financing option also offers competitive interest rates relative to unsecured personal loans which reduce monthly repayments. With reference to unsecured personal loans, lenders are exposed to a greater level of risk as collateral is not required to secure or guarantee

4672-444: The property's value. As lending standards continued to relax, LTV ratios extended to 107 percent which reflected home buyers rolling application and origination fees onto their mortgage loans. Obtaining a second mortgage is similar to purchasing a home, with the lender requiring a variety of information and documentation to make a decision on the application: Second mortgages often present potential problems that are not typical with

4745-481: The publisher and editor. When Mrs. Ely died, Tina noted that her mother passed control of the newspaper to her, "as my father did to her and my grandfather did to my dad. We will continue into generations to come. All my predecessors live on in the pages of our paper." In October 2006, the Secretary of State of New Mexico placed approximately $ 13,500 worth of legal ads with The Silver City Daily Press in connection with

4818-403: The risk of low quality loans. This created strong financial incentives to originate large volumes of loans regardless of the risk and was reflected in the minimal entry qualifications for participants, the use of commissions for the remuneration for brokers, lack of accountability and poor advice provided to consumer clients. In combination with poor mortgage origination standards and practices,

4891-416: The second mortgage are referred to as the application fee and origination fee respectively. Borrowers are also subject to additional costs which are charged by the lender , appraiser and broker . When refinancing , if the homeowner wants to refinance the first mortgage and keep the second mortgage, the homeowner has to request a subordination from the second lender to let the new first lender step into

4964-430: The second mortgage has a subordinate claim to the sale of assets , the second mortgage lender receives the remaining proceeds after the first mortgage has been paid in full and therefore, may not be completely repaid. In addition to ongoing interest repayments, borrowers incur initial costs associated with the origination, application and evaluation of the loan. The charges related to the processing and underwriting

5037-435: The second mortgage may be fixed or varied throughout the loan term. In general, second mortgages are subject to higher interest rates relative to the primary loan as they possess a higher level of risk for the second lien holder. In the event of foreclosure , in which the borrower defaults on the real estate loan, the property used as collateral to secure the loan is sold to pay debts for both mortgages. As

5110-618: The then-upcoming November elections. Five months later, the state failed to pay what was owed to the newspaper and its editor and publisher Tina Ely, a single mother, took out a second mortgage on her home to meet the newspaper's payroll due to the unpaid bill from the Secretary of State's Office. In addition, federal auditors were reviewing these and other expenditures by former Secretary of State Rebecca Vigil-Giron , whose subsequent August 2009 indictment on charges embezzlement of federal money meant for voter education were ordered dropped in 2012 by

5183-449: The title, they can come after the homeowner in civil court to pursue a judgement. At this point, the only option available to the homeowner is to accept the judgment or file bankruptcy . Second mortgages come in two main forms, home equity loans and home equity lines of credit. A home equity loan, commonly referred to as a lump sum, is granted for the full amount at the time of loan origination. Interest rates on such loans are fixed for

5256-547: The total cost of borrowing. In the context of mortgage markets, this translates to reduced monthly mortgage payments for homeowners and additional incentives for potential home buyers to increase borrowing. This affects the loan amount granted in addition to the number of applicants who qualify for higher levels of debt. With respect to a decreasing interest rate, low-income home buyers who were previously ineligible, are able to qualify for cheaper home loans despite higher debt-to-income levels. Prior to financial deregulation in

5329-629: Was to publish an announcement just below his predecessor's farewell, announcing that "A radical change will at once be inaugurated in the political views of the Independent . The independent policy adopted by Mr. Norton finds no favor with the new management, and henceforth this paper will advocate the principles of the Democratic party as expressed in the Chicago platform, and will render staunch and active support to party interests, in national, territorial and county politics." Walton's Grant County Democrat held

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