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MGM Mirage’s Murren Cutting Debt, May Sell Casinos (Update1) - BloombergJan. 8 (Bloomberg) -- MGM Mirage’s new chief executive officer, James Murren, said he plans to “dramatically” reduce debt and will consider further casino sales as he overhauls the company’s balance sheet. Murren plans to refinance maturing ...
Kuwait Bank Defaults on Debt - Wall Street JournalDUBAI --Top Kuwaiti bank Global Investment House said Thursday it defaulted on most of its $3 billion debt obligations, raising concerns that other Arab Gulf financial firms may follow as the world financial crisis is spreading to the region. Getty ...
IRS agents soften heart for delinquent taxpayers - Tri-City HeraldWASHINGTON As the nation sinks deeper into recession, the IRS is offering to waive late penalties, negotiate new payment plans and postpone asset seizures for delinquent taxpayers who are financially strapped, but make a good-faith effort to settle ...
Mega-sized DIP Fund Is Tapped - CFO.comBankrupt Lyondell Chemical has received court permission to tap more than $2 billion in interim debtor-in-possession financing and a "super emergency" $100 million loan to avoid liquidation, Bloomberg reported. It is Lyondell's first step toward ...
Construction spending falls less than expected - Kansas City StarConstruction spending fell less than expected in November as record activity on nonresidential projects helped offset another steep decline in housing. The outlook, however, is for significant weakness as the worst recession in at least a quarter ...
New York municipal bonds seem very attractive now - NewsdayHow good an investment are triple tax-free New York municipal bonds under the present financial circumstances of New York City and New York State? Is this a secure investment? What is the risk of receiving interest and principal before a bond's ...
Retailers looking for bottom in economic troubles - Charleston Regional Business JournalFollowing months of declining consumer spending, the 2008 holiday shopping season was thought by some to be a “make or break” time for struggling retailers. Now, as the dust settles from the frenzy of holiday sales and promotions meant to entice ...
Lida | Lida | Lida | Lida - Midwest VoicesBy Yael T. Abouhalkah, Kansas City Star Editorial Page columnist Most Americans are all for raking the Big Three automakers over the coals for their past sins, while they demand a $34 billion bailout. But Americans ought to be equally outraged by the ...
Coakley and Kenner:Guidance for homeowners: Modifying your mortgage - MetroWest Daily NewsMassachusetts continues to experience a dramatic surge in foreclosures, often due to deceitful and predatory lending practices. Many foreclosures have resulted from loan practices and products that were destined to fail because lenders failed to ...
Commercial real estate faces tough year as vacancies rise - Buffalo NewsNEW YORK — The balance of power between landlords and tenants will shift dramatically in 2009. For landlords, this promises to be a year of intense competition, more bankrupt tenants, and tightfisted lenders. For renters, it looks like a time of ...
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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