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Homeowners get some breathing room - Marketplace.publicradio.org
Tess Vigeland: Fannie Mae and Freddie Mac delivered an early holiday gift to some troubled homeowners. The two mortgage finance giants, which are currently under government control, announced they're suspending all evictions until January 9 ...

Analyst Actions: Gap, Autodesk, REITs - BusinessWeek
Gap Inc.'s ( GPS ) reported higher third-quarter earnings. Citigroup analyst Kimberly Greenberger says the company's 35 cents EPS was in line with her 35 cents estimate. She notes third-quarter selling, general, and administrative (SG&A) expense fell ...

Suthers cracks down on mortgage ads - Denver Business Journal
Three Colorado mortgage brokers have reached settlements with state Attorney General John Suthers to end what Suthers called the “deceptive use of teaser rates in mortgage-loan advertisements” in Denver newspapers. The agreements were part of a ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. Good morning. We had a good dinner last night. I am pleased with the progress we’re making on — to one, address the current crisis. I am ...

The downturn and the state of banking - Napa Valley Register
The current economic situation is unlike any other America has experienced in the last 70 years. In essence, it’s the perfect storm: a combination of the housing crisis, investment bank turmoil and an economic downturn that together are creating an ...

Suthers cracks down on mortgage fraud - Rocky Mountain News
Colorado Attorney General John Suthers today said he has reached settlements with three mortgage companies as part of a crackdown on false advertising that he launched about two years ago. Suthers said that Denver’s Arbor Financial Inc., 5280 ...

TSX losers and winners since the June peak - Globe and Mail
As the global financial crisis deepens, Report on Business writers examine and explain the turmoil in credit and stock markets. Here, we answer your questions daily, with the most recent at the top. What is the worst-performing stock on the S&P/TSX ...

Retail sales sink as Dems seek auto industry loans - Seattle Post Intelligencer
WASHINGTON -- The worst monthly drop on record for retail sales set off new alarm bells about the economy Friday, stepping up pressure on policymakers to figure out how to combat what increasingly looks to be a severe recession. Confronting ...

Greenspan denies blame for crisis, admits 'flaw' - Washington Post
House Oversight and Government Reform Committee member Rep. Elijah Cummings, D-Md. asks questions of the panel during a hearing of the committee on Capitol Hill in Washington, Wednesday, Oct. 22, 2008. (AP Photo/Lawrence Jackson) (Lawrence Jackson ...

Xstrata scraps £5bn Lonmin bid, blames market turmoil - Daily Telegraph
The Anglo-Swiss mining company said tight credit markets meant it would be unable to refinance a large part of the acquisition debt at favourable terms. The withdrawal, which comes a day before Xstrata had been ordered to "put up or shut up" by City ...

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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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