First Selectman Marpe Welcomes BRIGHTLIGHT CAPITAL to Westport on May 13

    First Selectman Jim Marpe will conduct a ribbon cutting ceremony and extend an official welcome on May 13 at 2 pm, as Brightlight Capital Management, a long/short small cap value manager, opens its new office at Sconset Square on Myrtle Avenue in Westport.   Mr. Marpe welcomes the growing hedge fund to town, saying “Westport is a great environment for financial services businesses like Brightlight Capital. We wish them great success.” “This is a very exciting and important time for Brightlight Capital,” said Dima Rubinchik, founder and portfolio manager of the three year old firm. “Two of our three partners live in Westport, so the decision to move here from New York was an easy one. We have…

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Mortgage Basics – Understanding How it all Works

While there are a number of ways to finance a home purchase, one of the most common ways to do so is using a mortgage.  A mortgage is a legal instrument that allows a finance company to advance funds for the purchase of a home, and then record on official land records the existence of the loan.  This guarantees that the lender can be protected and the title to the home cannot be sold to another person unless and until the title to the residence is clear from legal encumbrances.        The term mortgage is from the french for “dead deed,” which means that the deed is not useful until it has been cleared. You can obtain mortgage financing through…

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