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Bond issue change sought - Baton Rouge AdvocateA proposal to refinance a $120 million bond issue for Mayor-President Kip Holden’s Green Light Program got a lukewarm reception Wednesday from a Metro Council committee. Bond attorney Richard Leibowitz said the refinancing is necessary because the ...
Mortgage Rates Slide, But Not Enough to Spur Buying - CNBCThe crisis on Wall Street is fueling worries about the broader economy—especially jobs—so Americans aren't in the mood for big purchases like a house. “Even though it costs less to have a mortgage you have to make damn sure that you are still ...
Lenders cold to the idea of forgiving mortgage debt - Naples Daily NewsA mortgage broker has an idea for reducing foreclosures: Encourage lenders to forgive debt. So far, the notion hasn’t gained traction. Jeff Lazerson, founder and president of the online brokerage Mortgage Grader, believes that some foreclosures ...
Meghan McCain: NH, I'll get tattoo for you - Union LeaderNASHUA – If Sen. John McCain wins the presidency in a little more than three weeks, his daughter said she'll tattoo "Live Free or Die" somewhere on her body. Of course, he would have to win in New Hampshire, too, said Meghan McCain, who was in ...
Wednesday, November 12 - News.com.auTWO men wearing balaclavas have forced their way into a Pizza Hut, escaping with an amount of cash at Marden tonight. A 13-YEAR-OLD boy and a girl, 15, have been arrested after threatening a war veteran with scissors before stealing his car. TOTAL ...
Wall St hammered after US scraps mortgage buyout - Australian Broadcasting Corp.US stocks slid more than 4 per cent this morning after US authorities scrapped plans to buy up toxic mortgage securities. US Treasury Secretary Henry Paulson said buying up toxic mortgage debt was not the most effective way of repairing America's ...
The Conservative Origins of the Sub-Prime Mortgage Crisis - Common DreamsHardly a day goes by without a news story about the accelerating number of foreclosures, an economic tsunami that is causing chaos in the housing and stock markets, the banking industry, and the global money markets, not to mention upending families ...
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