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News about Mortgages:
Costlier credit may delay hospitals' construction projects - Detroit Free PressFaced with paying higher interest rates on bonds that help finance hospital projects and refinance costly older bond debt, some Michigan health systems are holding off on debt-refinancing plans until they see more stability in municipal bond markets ...
A trail of bad deals and good deeds - St. Petersburg TimesIn 1985, a Miami accounting whiz named Bill Planes went to federal prison. His crime: Embezzling more than $140,000 from a troubled Hollywood mortgage company he had been hired to resurrect. His future prospects: Not so good, it seemed. The Miami ...
SAVING FOR RETIREMENT?: Just hang on - NewsdayWhat should I do now? It's a natural question for retirement investors watching the unfolding Wall Street financial crisis and worrying about their portfolios. For most investors, the best answer is: Do nothing. The collapse of venerable companies ...
2008 (2169) - Dakota Voice► January 16 - January 23 (1) You don't see this kind of courage in a lot of adults, much less a 6-year old. From the Atlanta Journal-Constitution and ABC News comes word of a young boy who rescued his 5-year old friend from drowning. Josiah, who ...
September 2008 - Weekly Standard"I don't think me calling House Republican members would have been that helpful. I tend not to be that persuasive on that side of the aisle." - Barack Obama, acknowledging he doesn't know how to do bipartisanship and that his whole post-partisan ...
Couple should reduce debt, start saving - San Diego Union-TribuneOceanside residents Shannon and Neil Searing, with daughter Trinity, sought professional advice on how to improve theirfinancial situation. The Oceanside couple bought their first home in 2007 and have a 2-year-old daughter, Trinity. They have good ...
Where is the government bailout for homeowners? - Bloggingstocks.comHomeowners struggling to pay their bills must find the federal government's bailout of troubled Wall Street firms confusing. After all, government officials have repeatedly said they would not help victims of the subprime mortgage crisis, reasoning ...

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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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