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News about Mortgages:
Lower Mortgage Rates Are Not the Answer - Wall Street JournalOn Tuesday, the government announced an $800 billion plan to stimulate the economy by buying $600 billion worth of mortgage-backed assets and $200 billion in consumer-debt securities. The intent is to make it easier for consumers to buy cars, pay for ...
More Business - San Francisco Gate"A house is only worth what the bank says," said Terry Hastings, a partner at Hamilton Mortgage, in Ridgefield, Conn. "It's not worth what the buyer says anymore." Mortgage lenders determined to stave off additional losses are demanding more thorough ...
Mississippi routs UCF 78-46 - FOX NewsOXFORD, Miss. — David Huertas scored 24 points to lead Mississippi in a 78-46 rout of Central Florida on Wednesday night. The Rebels (4-1) led 27-26 at halftime, then went on a 34-9 run to start the second half. UCF (2-2) had started the game with ...
Bad economy offers cheap stocks, cars - Brownsville HeraldMcALLEN - The daily deluge of glum news is a constant reminder of how things are looking worse than bad, but that also means prices are falling and it could be a buyer's market for some big-ticket items. And it goes beyond gas prices dropping below ...
Ailing economy opens doors for stock market novices, car buyers - McAllen MonitorThe daily deluge of glum news is a constant reminder of how things are looking worse than bad, but the sluggish economy also offers savings opportunities for saavy consumers. And it goes beyond gas prices dropping below $2 a gallon for the first time ...
The Paulson Plan: “Truly Idiotic” - Wall Street JournalCharles Calomoris is angry. Hank Paulson’s plan to save the economy? “Truly idiotic,” says Calomiris, who is the Henry Kaufman Professor of Financial Institutions at Columbia University’s business school. “This whole thing has been complete ...
Hamish McRae: If the recession won't be that bad, why will we go so ... - The IndependentSo what will happen to the economy during the next couple of years? If the recession is shallow and short, then we might just about scramble through. But if not, then we will be in a huge mess, having to tighten policy while we're still in recession ...
My Overview of a Special Year 2008 - Safe HavenWhat a year. It has been 11 months since I put out "My Ten Predictions for 2008". In general, I think my predictions have luckily turned out to be about right, but I underestimated the severity of both the up and down movement. Former Goldman ...
November 2008 - Weblogs.baltimoresun.comReader Dave sends this nice letter to Obama's change.gov Web site, a propos of Saturday's column on layoffs. Dear President-elect Obama, Normally, I do not comment or send letters to elected officials, but since we are all looking for positive change ...
WTOP Answer Desk: Your questions on the economy - WTOP RadioThe FDIC prides itself on depositors never having lost a penny, and the federal government continues to be sharply focused on maintaining confidence in the banking system. Accounts in the failed banks -- as in all banks -- are still federally insured ...
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