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News about Mortgages:
Killeen hires Shanaa from Heights - Killeen Daily HeraldOne of Harker Heights' most well-known and respected department heads has decided to set up shop across town. The Killeen City Council enthusiastically approved the appointment Tuesday of Ray Shanaa to be the city's new director of planning and ...
Investment Sales - New York ObserverMacklowe Properties Chairman Billy Macklowe. Hot damn! The Real Deal is reporting that Deutsche Bank is suing Macklowe Properties "to foreclose on $482 million in principal loaned to develop the Drake Hotel site at Park Avenue and 56th Street ...
John Hancock Trustees Actively Seeking Solutions for Closed-End Fund ... - PR NewswireBOSTON, March 13 /PRNewswire-FirstCall/ -- John Hancock Funds' Board of Trustees is actively seeking solutions for seven closed-end funds affected by the liquidity crisis caused by the disruption in the auction rate preferred securities (ARPS) market ...

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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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