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News about Mortgages:
Market pulls back a little to finish its worst year yet - yorkshirepostcording its biggest slump since it was launched 24 years ago. Yorkshire companies felt the pain as the "annus horribilis" saw wiped millions from their market values. Halifax Bank of Scotland, which is being bought by Lloyds TSB, was among the ...
Australian Market Report of January 5: Cautious to Bad News Ahead - ABN NewswireSydney, Jan 5, 2009 (ABN Newswire) - Last Friday Wall Street closed 3% higher on hope of a fiscal stimulus plan by US Obama government. As investors have grown more optimistic that the worst might be over, the US market remained strong in recent ...
Paranoia next on Sir Alex Ferguson's fixture list - Times OnlineThe so-called hairdryer has nothing to do with Sir Alex Ferguson's tendency to bawl out his players from close range and everything to do with the fact that the vast majority of what he spouts is hot air. What else could anyone conclude after his ...
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