Union Mortgage Refinance and Information Online from competing Lenders
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home improvements, consolidate your debt, or get a mortgage as low as $695 per month. The fastest and easiest way to get a mortgage in the state
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State Agencies Get Creative on Student Loans - Inside Higher EdAs various lenders and some of its peers in other states announced in recent months that they would stop making federal or private loans because of disruptions in the capital markets, the Illinois Student Assistance Commission steadfastly held firm ...
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Why mortgage rates aren't falling - Walletpop.comWith the Fed holding rates for the foreseeable future, you may think this is a great time to refinance your mortgage or buy a new home. But because of the "credit crunch" you are no doubt sick of hearing about, rates are actually higher than they ...
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The State of Whose Union? - Common Dreams
Earlier this week, speaking for Washingtonia and unburdened by high expectations, President Bush said "all of us were sent to Washington to carry out the people's business." The question remains - exactly which people? And what business, Mr. Bush ...
Obama's plan to change the economy - Salon
In the past quarter-century, there has probably never been a better time for a presidential candidate to charge into downtown Manhattan and make a speech arguing for more regulation of the financial industry. The moral authority of market ...
The Conservative Origins of the Sub-Prime Mortgage Crisis - Common Dreams
Hardly a day goes by without a news story about the accelerating number of foreclosures, an economic tsunami that is causing chaos in the housing and stock markets, the banking industry, and the global money markets, not to mention upending families ...

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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.
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