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One Brooklyn Bridge Park Cuts Condominium Prices to Spur Sales - BloombergNov. 19 (Bloomberg) -- New York’s One Brooklyn Bridge Park, the luxury waterfront condominium complex that remained two-thirds unsold after 17 months on the market, reduced prices on about 50 apartments to spur sales. Marketers of the former ...
NYC Authorities Charge 16 In Mortgage Fraud Scheme - CBS 2NEW YORK (AP) ― Sixteen people -- including drug smugglers, real estate appraisers and a bank employee -- hatched two multimillion dollar mortgage fraud schemes involving overvalued suburban homes that were sometimes used as stash houses ...
Authorities Charge 16 in Mortgage Fraud Scheme - 1010Wins1010 WINS is the 24-hour all-news radio station for New York City, New Jersey, Connecticut and Long Island including Manhattan, Brooklyn, Queens, Bronx, Staten Island, Nassau County, Suffolk County, Fairfield County, Bergen County, Essex County, Long ...
Court clerk indicted in mortgage scam - New York Daily NewsAn accused sex tour operator and a high-ranking Brooklyn court official were among nine people indicted Tuesday in a $1.4 million mortgage fraud scheme that featured stolen identities and an elaborate series of masquerades. In the scheme, con artists ...
W. SENDS BROOKLYN LEGAL ACE TO THE RE$CUE - New York PostAn elite Manhattan federal prosecutor whose specialty is sending corporate fraudsters to prison is President Bush's pick to oversee the $700 billion rescue of troubled financial firms. Neil Barofsky, 38, was described by colleagues yesterday as an ...
HOUSE 'ROBBERS' - New York PostThe well-connected brother of a popular Brooklyn judge - employed as the No. 2 in the borough's Civil Court Clerk's Office - helped steal an elderly widow's home out from under her, authorities said yesterday. Brooklyn Chief Deputy County Clerk John ...
Corporate Crime - NewsdayNEW YORK -- Opera-loving philanthropist Alberto Vilar was convicted on fraud charges today for swindling investors, including the mother of actress Phoebe Cates, out of millions of dollars. Federal prosecutors accused Vilar and a business partner of ...
Moving to New York City - Chud.comI've never been there...I got offered a directing gig and I'm going to stay there for a while, or maybe forever depending on how it works out. I'm going in the middle of fucking January if you can believe it. I'm used to LA weather, but I'm not a ...
The Round-Up: Thursday - New York ObserverPaterson’s $5.2 billion in proposed budget cuts would seriously hurt schools, cutting $255 million from NYC schools alone. [NY Times] An 18-month investigation reveals that half the city’s employment agencies regularly exploit New Yorkers, many ...
New York jury convicts foreclosure swindling pair - ForbesThe owners of a foreclosure rescue company that promised to save struggling homeowners but swindled them out of their houses were convicted Thursday of bank fraud conspiracy charges. Andrea Moore and Michael Irving, who ran a Brooklyn-based company ...
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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