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Financial News
ABS-CBN borrows P1 billion - Business World
Vol. XXII, No. 19 Thursday, August 21, 2008 | MANILA, PHILIPPINES Corporate News ABS-CBN borrows P1 billion NETWORK GIANT ABS-CBN Broadcasting Corp. has borrowed from two local banks to increase its capital and refinance debts.

August 2008 - ABC News Blogs
ABC News' Scott Mayerowitz reports: Make all the Don Quixote jokes you want, but even New York City -- where the smallest parcel of land comes at a premium -- is considering windmills to help power the metropolis. Mayor Michael Bloomberg has proposed ...

BAA flies into more controversy - BBC News
The company has run UK airports since the 1960s - overseeing rapid growth from a time when only the wealthy took holidays to the era of low-cost flying. Facing a barrage of criticism from passengers, airlines and businesses, the operator's chairman ...

Read all posts by Erica Ogg in News - Business Tech - CNET News
Hewlett-Packard beat Wall Street earnings estimates this quarter, lead by strong notebook sales growth. HP reported third-quarter earnings of $2.03 billion, or 86 cents per share, excluding one-time charges. Analysts were expecting earnings of 83 ...

Business Briefing, Aug. 21 - Rocky Mountain News
One of the few remaining Internet-free havens vanished Wednesday as American Airlines launched airborne e-mail, Web and other online services on some of its longer, nonstop flights. American, a unit of AMR Corp., tested in-flight access on two ...

Stimulus package heads to Bush - Raleigh News & Observer
Voting yes: Democrats G.K. Butterfield, Bob Etheridge, Mike McIntyre, Brad Miller, David Price, Heath Shuler and Mel Watt, and Republicans Virginia Foxx, Robin Hayes, Walter Jones, Patrick McHenry and Sue Myrick WASHINGTON - Congress passed an ...

Mortgage Crisis - OpEdNews.com
Who pays when lenders fail? / Don't foreclose - keep borrowers in their homes If there is any silver lining to the second largest thrift failure in U.S. history, it is this: the IndyMac bank collapse has ironically resulted in the nation's first ...

Mortgage rate freeze in works - Sioux City Journal
WASHINGTON (AP) -- The Bush administration and the mortgage industry, trying to combat a massive wave of foreclosures, are hammering out a proposal to temporarily freeze interest rates on certain troubled subprime mortgages. If adopted, it would be ...

small towns in Norway. - Salon
The Norwegian port town of Narvik is 200 miles inside the Arctic Circle, but that's not far enough north to escape the long arm of Citigroup. One of four Norwegian towns that invested millions of dollars in complex "structured finance" products ...

State Foreclosure Crisis - Cumberland Times-News
CUMBERLAND - The Rev. Charles Cephas has seen the worried, troubled look of couples and the uncertain future behind the eyes of children who have walked into his office. "I could take all day long to tell you all the horrible scenarios since this ...

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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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