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'Black Friday' won't stave off black days ahead: Analysts - Ottawa SunWASHINGTON (AP) — U.S. retail shoppers hunting for holiday bargains on ”Black Friday” won’t be enough to stave off what’s likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims ...
U.S. Auto Workers to hold meeting on bailout - Ottawa SunDETROIT (AP) — Local United Auto Workers leaders from across the country will hold an emergency meeting in Detroit on Wednesday to discuss concessions the union could make to help auto companies get government loans. UAW leaders called the meeting ...
Experts predict tough times for commercial landlords - San Diego Union-TribuneSo far, commercial real estate has avoided the massive mortgage defaults that have hit homeowners, even though San Diego County offices, shopping centers and hotels saw similar surges in prices over the past few years. But experts are beginning to ...
Brazilian Farm Credit Shrinks; Growers Reduce Crops (Update1) - BloombergNov. 25 (Bloomberg) -- Coffee farmer Joao Carlos Terra says his trees will yield about a third less than planned next year because he can’t get a big enough loan to buy fertilizer and pesticide as the global credit crunch bites in Brazil. Terra ...
Distress soon could hit US commercial property - Guardian UnlimitedNEW YORK, Sept 8 (Reuters) - U.S. commercial real estate prices are likely to tumble over the next 12 to 18 months as more borrowers default on their loans and regulators crack down on banks, pushing even more properties onto the market. Since the ...
U.S. Stocks Drop on Foreclosures, Earnings Slump; MGIC Slides - BloombergOct. 23 (Bloomberg) -- U.S. stocks fell for a third day, led by financial and consumer shares, after home foreclosures surged to a record and the credit crisis hammered earnings at asset-management and real-estate companies. MGIC Investment Corp ...
Remarks by the President to America's Small Business Summit 2008 - ChristianNewsWireTHE PRESIDENT: Thank you all. Thanks for coming. Thank you very much. (Applause.) Thank you. Thanks for the warm welcome. I appreciate you being here in the Nation's Capital. I know most of you have come from out of town, which is good -- it means ...
Bank of China sniffs HBOS - bbcBank of China , the giant Chinese bank, is the mystery bank that Jim Spowart and European American Capital hope will make an offer for HBOS to stymie the takeover bid from Lloyds TSB. It would be quite an event were it to happen. If Bank of China ...
Overseas bank lines up to bid for HBOS - ScotsmanA FOREIGN bank is interested in buying HBOS and has approached the UK government on how to proceed, The Scotsman has learned. It has received assurances from the Treasury that any bid would be treated equally to the one on the table from Lloyds TSB ...
Genesee & Wyoming Reports Results for the Third Quarter of 2008 - PR NewswireGREENWICH, Conn., Nov. 3, 2008 /PRNewswire-FirstCall/ -- Genesee & Wyoming Inc. (GWI) (NYSE: GWR) reported net income in the third quarter of 2008 of $21.2 million, compared with net income of $16.2 million in the third quarter of 2007. GWI's diluted ...
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