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UK plumbing supplies firm Wolseley cuts 2,000 jobs - WTOP RadioLONDON (AP) - Wolseley PLC, the world's largest distributor of plumbing products, said Monday it would shed 2,000 jobs and close 200 branches in Britain and Ireland to adjust to the economic downturn. The company, which has already cut 5,000 jobs ...
British plumbing supplies firm Wolseley to cut 2,000 jobs, close 200 ... - Hartford CourantLONDON (AP) _ Wolseley PLC, the world's largest distributor of plumbing products, said Monday it would shed 2,000 jobs and close 200 branches in Britain and Ireland to adjust to the economic downturn. The company, which has already cut 5,000 jobs ...
U.S. mortgage applications ebb 17% - NewsdayU.S. mortgage applications fell last week to the lowest level in almost eight years as the worst financial crisis in seven decades dried up lending. The Mortgage Bankers Association's index of applications to purchase a home or refinance a loan ...
Bank Bonds Rise May Ease Pain of Refinancing $89 Billion Debt - BloombergOct. 15 (Bloomberg) -- A rally in bank bonds spurred by U.S. Treasury Secretary Henry Paulson 's rescue plan may ease the way for financial companies to refinance $89 billion of debt maturing through the end of the year. Bonds of Morgan Stanley ...
Pimco Closed-End Fund Joins Rivals Forced to Suspend Dividends - BloombergNov. 3 (Bloomberg) -- Pacific Investment Management Co.'s High Income Fund suspended dividend payments, the latest closed- end fund to be squeezed between plunging asset values and rules governing the use of borrowed money. The fund won't pay a $14.3 ...
Low Prices on Foreclosures Lift Sales of Existing Homes - Washington PostSales of single family houses, townhouses, condos and cooperatives rose 5.5 percent in September from August and were up 1.4 percent from a year ago. The increase mildly exceeded the expectations of analysts. (By David Zalubowski -- Associated Press ...
ARM Holders Would Do Well to Shop Around Now - Washington PostThe global financial crisis has affected virtually every aspect of personal finance, from mortgages to student loans to credit cards to retirement savings. So it's no surprise that so many of our readers have so many questions. Our first one comes ...
Mortgage Insurance Companies Not Giving Breaks - Insurance News NetOct. 29--Randy Johnson, the Newport Beach author of "How to Save Thousands of Dollars on Your Home Mortgage" and a mortgage broker since 1983, answers questions from readers. QUESTION: If one buys a home that is appraised at $1.1 million but sells ...
CAMPAIGN NEWS - US News and World ReportThis morning's campaign coverage portrays the presidential race as having shifted decidedly in Sen. Barack Obama's favor, giving Sen. John McCain very little chance of picking up any states not won by President Bush in 2004. ABC World News described ...
Buy Real Estate Now - ForbesOn Halloween, Radar Logic published a new compendium of housing for the year ending in August. The results were frightening: House prices have held up in just a precious few cities (Milwaukee, up 3%; Columbus, flat; Charlotte, down 3%). All the big ...
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