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Tough economic times hit sports fans in wallets - NBC SportsFans’ desire to identify with their favorite teams — from plunking down money for overpriced team gear to spending thousands on autographs to paying through the nose for tickets — has known few financial bounds. But the aftershocks of the ...
Governor looks to aid banks and homeowners - Newark Star-LedgerAs part of a sweeping plan to carry New Jersey's economy through the global financial crisis, Gov. Jon Corzine plans today to propose investing $250 million from the state pension fund in community banks to spur lending to small businesses, and ...
Corzine: Feds should help homeowners facing foreclosure - Newark Star-LedgerAP Photo Gov. Jon Corzine addresses the New Jersey Urban Mayors' Association today. Gov. Jon Corzine told urban officials today he would like the federal government to buy houses facing foreclosure and lease them to the residents until they can ...
Mr. Obama Meets the Press - Embeds.blogs.foxnews.com“Oh wow!” Barack Obama exclaimed when some 300 journalists stood as he walked into his first press conference as the President-Elect. Joined by the Vice President Elect and flanked by a slew of economic advisors and his new chief-of-staff, Mr ...
Mayfair Mall owner is deep in debt, may face bankruptcy - Milwaukee Journal SentinelNov. 11, 2008 | General Growth Properties Inc. shares plummeted Tuesday after the mall owner warned it faces solvency trouble and may be forced to file for bankruptcy if it can't refinance or extend nearly $1 billion in debt due next month. The ...
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