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Mortgage application, refinance volume surge - Seattle Post Intelligencer
101 Elliott Ave. W. Seattle, WA 98119 (206) 448-8000 Home Delivery: (206) 464-2121 or (800) 542-0820 seattlepi.com serves about 1.7 million unique visitors and 30 million page views each month. Send comments to newmedia@seattlepi.com Send ...

General Growth Properties gets loan reprieve - Seattle Post Intelligencer
CHICAGO -- General Growth Properties Inc. has received a two-week extension on mortgage loans totaling $900 million, as the troubled shopping mall owner works to stave off bankruptcy and negotiate longer-term extensions with lenders. The mortgages ...

The Myth of Lower Interest Rates (and Points) - Seattle Post Intelligencer Blogs
Lower interest rates allow people to "afford" a more expensive house. Little doubt about that. Each 1/4 rate reduction on a $400,000 loan saves about $60-65 a month. Alternatively, paying the same amount you could borrow about $11,000 more and pay ...

Kristi O'Harran - Everett Herald
Above, pictures of grandchildren adorn the wall behind Terry Berger in the Marysville home where she has lived for 10 years. Mark Mulligan / The Herald (click to enlarge) Terry Berger stands in front of the Marysville home where she has lived for 10 ...

Big Three automakers to submit plans to Congress - Seattle Times
Detroit's automakers, making a second bid for $25 billion in funding, are presenting Congress with plans Tuesday to restructure their ailing companies and provide assurances that the funding will help them survive and thrive. General Motors Corp ...

Refinancing troubles will mean bargains for NW real estate buyers - Seattle Daily Journal of Commerce
Richard Leider, a principal with Seattle-based Trinity Real Estate, said his firm has a list of Puget Sound region properties it's monitoring that were purchased in the last 36 months at relatively high prices and that may need to be refinanced soon ...

General Growth Shrinks - Forbes
General Growth Properties appears to be postponing the inevitable: The ailing mall owner announced it received a two-week extension on $900.0 million in mortgage loans to keep bankruptcy at bay. But investors didn’t seem to think the extension ...

Home Prices Fall in 25 U.S. Metro Areas, Led by Foreclosures - Daily Business Review
ome prices fell in 25 U.S. metropolitan areas in September from a year earlier, led by declines in Las Vegas and Sacramento, California, as buyers purchased properties at fire-sale prices. Sales jumped in seven cities in September from August, the ...

AP Executive Morning Briefing - Town Hall
WASHINGTON (AP) _ Walloped by the recession, automakers' U.S. sales are plummeting as hard-to-get credit, job losses and other stresses make many Americans wary of taking on big-ticket financial commitments. Auto sales for November, released Tuesday ...

State Supremes: unsubstantiated allegations of teacher sexual ... - Spokane Spokesman-Review
In a case where the 11 petitioners are all known as John Doe, the state Supreme Court ruled 6-3 this morning that unsubstantiated allegations of teacher sexual misconduct can be withheld from public disclosure. School districts can investigate any ...

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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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