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Sweden in talks with GM, Ford - The Washington Times
GETTY IMAGES The Swedish government doubts U.S. lawmakers would support the international operations of General Motors Corp., which owns Saab. The Swedish government confirmed Monday it is in talks with General Motors Corp. and Ford Motor Co. after a ...

Gillett trying to refinance debt - Sports Business Journal
Liverpool FC co-owner George Gillett is trying to refinance $75 million of personal debt that pledges his interest in the soccer team as collateral, according to sources familiar with the situation. The money is due late next month unless the three ...

US housing market slump to last despite rise in opportunists - Gulf News
New York: The lowest mortgage rates in three years are luring first-time buyers and cost-cutting refinancers, but falling home prices and mounting unemployment will keep US housing in its deepest slump since the Great Depression. Applications to buy ...

Looking to refinance? Now might be the time - Boston Globe
Mortgage rates have been stubbornly high for quite some time but the government's recently announced $800B plan to bolster mortgages and consumer loans had an almost immediate impact in the form of lower rates on mortgages. Last Tuesday, 30 year ...

BasePoint™ Releases Industry’s Only Solution Specifically Designed ... - Earthtimes
CARLSBAD, Calif. - (Business Wire) BasePoint Analytics®, a leading provider of scientific risk and fraud analytic scoring solutions, today announced the availability of the BasePoint DefaultRisk™ score, the industry’s only risk modeling solution ...

Refinance now, or possibly never - International Herald Tribune
LONDON : European companies with debt maturing soon should refinance now despite punitive rates because there is worse on the way, according to analysts. Issuers could be squeezed out in the years ahead as a result of competition from hundreds of ...

Bernanke: more action needed to cut foreclosures - Forbes
Federal Reserve Chairman Ben Bernanke called on the government Thursday to ramp up efforts to stem soaring home foreclosures, which are feeding into the country's deep economic troubles. Although a flurry of actions have been taken to ease the ...

800 jobs go as owner of Klick Photopoint goes into administration - Herald
Britain's retail sector was dealt a major blow today when another high street company went into administration with the loss of more than 800 jobs. Glasgow-based Bowie Castlebank Group is to shed 817 jobs across its businesses, which include photo ...

Shoppers have reasons to act like grinches - Cleveland Plain Dealer
WASHINGTON -- Federal Reserve Chairman Ben Bernanke pleaded Thursday for more government action to relieve the foreclosure crisis and break a vicious cycle in which the housing meltdown is plunging the country deeper into recession. Beaten-down ...

A Rush Into Refinancing as Mortgage Rates Fall - The Ledger
The housing market may finally be getting some relief, with lower mortgage rates already encouraging refinancing and Treasury officials considering ways to entice new buyers. Click to enlarge Low rates enticed Javier and Irina Lattanzio to refinance ...

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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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