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World leaders pledge to combat global crisis - NewsweekNEW YORK) With the global economy threatening to slip into a prolonged recession, world leaders have come up with a lengthy action plan they hope will bolster badly shaken investors' confidence. The plan was produced at a weekend meeting of leaders ...
Nov 17, 5:39 AM EST - Associated PressWASHINGTON (AP) -- With the global economy threatening to slip into a prolonged recession, world leaders have come up with a lengthy action plan they hope will bolster badly shaken investors' confidence. The plan was produced at a weekend meeting of ...
Dow slips below 8,000 on growing fear of deflation - KTAR.comWASHINGTON (AP) - A growing fear of economic deflation helped take the air out of the stock market Wednesday, and another white-knuckle final hour on Wall Street pushed the Dow Jones industrials under 8,000 to their lowest close since the financial ...
'Hope for Homeowners' may get lender incentive - El Paso TimesWASHINGTON -- The government may let more borrowers qualify for a $300 billion program designed to let troubled homeowners swap risky loans for more-affordable ones, a top Bush administration official said Wednesday. The program, included in a ...
FHA-Backed Loans: The New Subprime - BusinessWeek(page 3 of 5) During the subprime boom, the FHA atrophied as borrowers migrated to the too-good-to-be-true deals that featured terms such as extremely low introductory interest rates that later jumped skyward. But since the subprime market vaporized ...
An Eight-Point Plan to Avoid a Depression - Street.Com, C ( Cramer's Pick ) , BAC , WFC , JPM , WFC Systemic risk is right back on the table. And this is what it looks like: Citigroup ( C Quote - Cramer on C - Stock Picks ) at $5, Bank of America ( BAC Quote - Cramer on BAC - Stock Picks ) at $12 and ...
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. The absurdist drama “The Bailout,” now playing under the Capitol Rotunda, is perversely reassuring. It has reinforced my long-held belief ...
Obama Proposals May Benefit High-Earners - Street.ComEven if you supported Barack Obama's voice for change, voted for him and are thrilled that he is our president-elect, you might be worried about your upcoming tax bill if you earn more than $250,000 as a family or $200,000 as a single person. Obama ...
Facing foreclosure, some go to church - Marketplace.publicradio.orgSCOTT JAGOW: The foreclosure notices are really starting to add up. Last month, one out of every 450 homes received one. And it's happening in every kind of neighborhood. But certain communities are suffering more than others. A recent study ...
Possible bailout for homeowners - Herald TribuneThe Federal Deposit Insurance Corp. announced a sweeping proposal Friday to bail out millions of American households from possible foreclosure. The plan calls for the government to spend $24 billion, both to give loan servicing companies a $1,000 per ...
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