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News about Mortgages:
Surviving the housing crisis - Burlington UnionThere are more than seven million homeowners who are “underwater,” a term that describes the situation when your mortgage exceeds the value of your home. Nationwide, one out of five homeowners are underwater. In Nevada, where the prices have ...
City stays with Main Street - Hawk EyeWhen it comes to supporting Main Street Iowa, Burlington City Council members believe in the old adage, "If it's not broke, don't fix it." During regular session Monday, the council approved a resolution in support of the program with more than two ...
Fitch U.S. Retail Outlook: Navigating a Difficult Path for Holiday and ... - CNBCNEW YORK, Nov 19, 2008 (BUSINESS WIRE) -- Fitch Ratings expects that the 2008 holiday season will be extremely challenging for retailers and could be the weakest season over the past two decades. Real retail sales turned negative in the back to ...
School for the blind starts visionary newsroom - Newark Star-LedgerEd Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...
Sanders asks Paulson to block bonuses - Boston GlobeBURLINGTON, Vt.— Vermont's junior senator is asking Treasury Secretary Henry Paulson to block bonuses for executives at the nation's nine largest banks that were recently propped up with taxpayer funds. Sen. Bernie Sanders has written to Paulson ...
VEDA approves $56 million in financing - Burlington Free PressThe Vermont Economic Development Authority announced Thursday it has approved $55.5 million in financing to support development projects at local companies. Jo Bradley, the authority's CEO, said the financing efforts "will strengthen businesses ...
Suicides from financial crisis cause concern - Burlington Free PressAn out-of-work money manager in California loses a fortune and wipes out his family in a murder-suicide. A 90-year-old Ohio widow shoots herself in the chest as authorities arrive to evict her from the modest house she called home for 38 years. In ...
Huck's posts 3Q profit - Hawk EyeAfter seeing red for the first two quarters of the year, the city of Burlington netted $30,748 in profit on its $1.8 million investment in Huck's Harbor. The water park located at Burlington entrepreneur Randy Winegard's FunCity entertainment complex ...
Councilman opposes logging - Hawk EyeIt's a move that will earn the city of Burlington a profit and help to reinvigorate the ecology of Otter Island, according to a forestry expert hired by the city. However, not all members of the Burlington City Council are on board with a plan to ...
Senator asks Paulson to block bonuses - KRON4BURLINGTON, Vt. (AP) - Vermont's junior senator is asking Treasury Secretary Henry Paulson to block bonuses for executives at the nation's nine largest banks that were recently propped up with taxpayer funds. Sen. Bernie Sanders has written to ...
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