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McCain campaign outlines mortgage-rescue plan - San Francisco Gate
Thursday, October 9, 2008 Sen. John McCain's plan to help people avoid foreclosure drew praise from liberals for tackling the problem's source, while conservatives called it a government subsidy of irresponsible lenders and borrowers. During Tuesday ...

Mixed reaction to McCain's mortgage solution - San Francisco Gate
Wednesday, October 8, 2008 During Tuesday's presidential candidate debate, McCain, the Republican nominee, said he would order the Treasury secretary "to immediately buy up the bad home-loan mortgages in America and renegotiate (them) at the new ...

Ga. man gets 14 years in mortgage fraud - Ledger-Enquirer
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Northwest Arkansas Families More In Need Of Food As Economy Continues ... - Morning News
SPRINGDALE -- As hard as it may be to believe, some kids in Northwest Arkansas go to bed hungry at night. "There is a tremendous need to feed people, which is hard to believe," said Marge Wolf, the executive director of Northwest Arkansas Food Bank ...

Markham McKnight Elected Chairman of the Council of Insurance Agents ... - MSN MoneyCentral
TUPELO, Miss. , Oct. 9 /PRNewswire-FirstCall/ -- BancorpSouth, Inc. BXS , announced today that Markham R. McKnight , of Baton Rouge, La. , and president of BancorpSouth Insurance Services, Inc.; is the 2009 chairman of The Council of Insurance Agents ...

Arkansas Blog - Arkansas Times
When John McCain said he didn't know much about economics, that was one time he certainly told the truth. Here is a quotation about McCain's plan to buy home mortgages: http://rawstory.com/news/afp/McCain_mortgage_buyout_too_expensiv_10082008.html ...

School board runoff Tuesday ! Halsell, Odom vying for at-large ... - Northwest Arkansas News
Fayetteville School District residents will choose between Jim Halsell and Conrad Odom when they go to the polls to vote Tuesday in the Fayetteville Board of Education run-off election. Whoever is elected to atlarge Position 1 will serve a three-year ...

SunTrust Upgrades IBERIABANK (IBKC) to Buy - StreetInsider.com
IBERIABANK Corporation is a multi-bank financial holding company with 150 combined offices, including 81 bank branch offices in Louisiana, Arkansas and Tennessee, 30 title insurance offices in Arkansas and Louisiana, and mortgage representatives in ...

McCain has pundits 'scratching' heads - Politico.com
Conservative pundits and bloggers expressed outrage Wednesday over John McCain’s plan for the federal government to spend $300 billion to buy up troubled mortgages, announced during his debate with Barack Obama Tuesday night. “Last night, he took ...

McCain, Obama duel over mortgage relief - Arkansas Online
LITTLE ROCK — Barack Obama on Wednesday condemned John McCain’s plan for the government to buy bad home mortgages as a bailout of risk-taking banks and lenders. McCain defended his proposal and posed a rhetorical question for Obama: “Do you ...

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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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