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McCain's Mortgage Plan Calls for Lowering Rates for Homeowners - BloombergMcCain's Mortgage Plan Calls for Lowering Rates for Homeowners By Sharon L. Lynch Oct. 10 (Bloomberg) -- Republican John McCain 's plan to refinance distressed home loans includes cutting mortgage rates to just above 5 percent for troubled borrowers ...
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Hillsborough County targets areas for housing rehab plan - St. Petersburg TimesPALM RIVER — Armando Celeiro came here from Cuba with $100 in his pocket. Forty-odd years later he's a furniture manufacturer and real estate investor, proud of his achievements and bullish on his community. Hillsborough County housing officials ...
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Summit County resort execs stay upbeat about season - Summit Daily NewsTaking part in the annual Summit County Chamber’s Chief Operating Officer’s Breakfast at Copper Mountain Wednesday included the COO’s from the county’s four ski resorts from left, Alan Henceroth, Arapahoe Basin; Pat Campbell, Keystone; Lucy ...
RSS Feed: Local News - Tracy PressMortgage payment defaults in California are approaching a 10 year high. The state accounts for six of the nation’s top 10 metropolitan areas with the most foreclosures. For families facing foreclosure, these are stressful and difficult times. This ...
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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