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BayWalk owner says foreclosure near - St. Petersburg Times
BayWalk, which opened in St. Petersburg in 2000, has run into difficulty. Its vacancy rate stood at 25 percent this summer. BayWalk's owner is in default on his mortgage loan and anticipates that foreclosure will follow for the downtown St ...

RLPC-UPDATE 1-Ineos asks for waiver on 7.62 bln euro senior loan - Forbes
LONDON, Nov 17 (Reuters) - Ineos Group, the world's third-largest chemical group, said on Monday it had asked its banks for covenant waivers on billions of euros of senior loans until the end of May 2009. Ineos reported earnings before interest, tax ...

Water park in idea phase - Leaf Chronicle
A week after Clarksville Mayor Johnny Piper announced his intention to include a water park in plans for a marina at a redesigned Fairgrounds Park, few new details have emerged. "I've committed to providing a nice water park with nice amenities to it ...

Viewer Stories: Living Paycheck To Paycheck - WSB-TV Atlanta
The economy has caused my employer to cut me to a 3/4 worker, cutting my wages but still putting me above the line to qualify for underemployment. I've spent months searching for a new job without luck. I refuse to look beyond the tri-city area ...

School for the blind starts visionary newsroom - Newark Star-Ledger
Ed Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...

Borse Dubai May Pay More for Credit Swap-Linked Loans (Update1) - Bloomberg
Nov. 12 (Bloomberg) -- Borse Dubai Ltd., the Gulf emirate's state-owned operator of exchanges, is in talks to refinance $4.2 billion of loans at interest rates tied to the price of credit- default swaps, raising the cost of the debt, said three ...

Presidential race tops national ballot; statewide issues addressed - Harrison Daily Times
he national ballot will be topped by the presidential race between Democrat Barrack Obama and Republican John McCain and Harrison-area voters will find Democratic U. S. Senator Mark Pryor facing an opponent, Green candidate Rebecca Kennedy, Tuesday ...

U.S. Stocks Drop; S&P 500, Dow Post Worst Retreats Since 1937 - Bloomberg
Oct. 7 (Bloomberg) -- U.S. stocks fell, sending the Standard & Poor's 500 Index below 1,000 for the first time since 2003, on speculation banks and real-estate companies are running short of money as the credit crisis worsens. Bank of America Corp ...

Victorians battle as the economy bites deeper - News.com.au
SEVEN in 10 Victorians have been affected by the global financial crisis. Job cuts, financial and superannuation losses, price rises and a slump in home values, cars and other assets have hit about 3.5 million people in the state, according to a ...

John S.W. MacDonald - New York Observer
Five hedge fund managers—including prominent liberal fundraiser George Soros—testify before a House committee that their $2 trillion industry requries more regulation. [NY Times] 7:30 a.m. to 12 p.m. Gain crucial insight into New York’s real ...

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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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