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Young Russian boys find new family in America - Daytona Beach News-JournalORMOND BEACH -- Two backpack-toting brothers strolled up the driveway kicking pine cones on their way home from the bus stop after a day at Ormond Beach Middle School. Seventh-grader Sasha and eighth-grader Dimitry were greeted by their dad, Richard ...
U.S. mortgage applications fall 16.6 pct - ReutersNEW YORK, Oct 22 (Reuters) - Demand for applications to buy homes and refinance mortgages sank 16.6 percent last week, a trade group said on Wednesday, in the heart of a financial crisis that has sapped consumer confidence. The Mortgage Bankers ...
Facing foreclosure, some just walk away - Delaware OnlineIn the spring of 2006, when the paralegal's parents retired and decided to move to Delaware to be closer to their grandchildren, buying a bigger home for the entire family seemed like a sensible thing to do. The collapse of the housing market ruined ...
G.O.P. Opens Wallet for Ads - New York Times BlogsFlush with cash, the Republican National Committee is beginning to open its wallet to broadcast new advertisements against Senator Barack Obama. In a single day, the committee paid for a $5 million advertising purchase by OnMessage, a media firm in ...
Care Investment Trust Q3 2008 Earnings Call Transcript - Seekingalpha.comCare Investment Trust Inc. (CRE) Q3 2008 Earnings Call November 14, 2008 11:00 am ET Executives Leslie Loyet - Financial Relations Board Scott Kellman - President, Chief Executive Officer Frank Plenskofski - Chief Financial Officer, Treasurer Mike ...
Credit crisis snarls Waverly Place - Raleigh News & ObserverDeveloper can't find a lender to bankroll his plan to make the Cary shopping center a modern mix of condos, stores and offices The $180 million redevelopment of Cary's Waverly Place shopping center is joining the list of projects delayed by the ...
Reverse Mortgages: Saviors for Seniors - Mountain NewsIn this issue The Mountain News presents the fourth installment in a multi-part series on economic topics affecting the mountains. This week we look at reverse mortgages, who they benefit and how they work. As Congress struggles toward consensus on a ...
Eliot Brown - New York ObserverCity's Willets Point rendering. Just on the heels of the highly contentious City Council term limits vote, Mayor Bloomberg has personally injected himself into the push to sway the council on his administration's plan to redevelop Willets Point ...
Today's Mortgage Terms starting with A
Accrued Interest: Interest earned but has not been paid
Additional Principal Payment: A payment made by the borrower of more than the scheduled principal amount due with the purpose of reducing the remaining balance on the loan.
Adjustable Rate Mortgage: Loans with interest rates that are adjusted periodically based on changes of a pre-determined index. The index is based on market rates such as Treasury bills and prime rates. The ARM has an interest rate cap that limits the amount the interest rate can change.
Adjustment Period: Applicable to an ARM, the time between changes in the interest rate.
Amortization: Repayment of a debt with periodic payments, usually monthly, of principal and interest calculated to pay down the loan within a predetermined time.
Amortization Schedule: A timetable for payment of a mortgage detailing the amount of each payment applied to interest and principal and the balance left outstanding.
Annual Percentage Rate (APR): The cost of credit shown as a yearly rate. The annual percentage rate is usually not the same as the interest rate. The APR will be higher than the interest rate stated in the note due to the fact that it includes the interest rate, loan discount points, fees and mortgage insurance.
Appraisal Fee: A fee charged by a licensed, certified appraiser for a written estimate of a property's current market value at a specific time.
Assumable Mortgage: A mortgage that can be taken over by the buyer when a home is sold by the previous owner.
View all Terms