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The Note - ABC News BlogsYou don't need a light-bulb moment for this one: Now that the national-security team is in place, it's all about the economy again for President-elect Barack Obama. And, oh yeah -- he's pretty much the president now, by the way. Partly it's the ...
Updated 1/6: Home sellers hope for better market in 2009 - Arlington Heights PostSolecki has had her Rolling Meadows house on the market for more than a year, initially on her own and then hiring a Realtor from Keller Williams. "I didn't know what to expect and with the market so low nobody is coming through. And the people that ...
Securities Suits Up in 2008, But Might They be Uphill Battles? - Wall Street JournalThe mortgage crisis has given birth to a big year for securities suits. But will many of them be doomed by strong defense arguments? According to one report, which will be issued tomorrow by Stanford Law School and Cornerstone Research, 2008 saw a ...
2008's 3 Stock Picks: TOL, BAC, SLB - Smart Money2008 was a tumultuous year for investments of every stripe, but stocks had it especially tough. The S&P 500 has fallen 39% through Dec. 30, sinking to levels not seen in nearly six years. If that's not sobering enough then consider this: The ...
Stroock Names New Partners and Special Counsel - EarthtimesNEW YORK, NY -- 01/07/09 -- Stroock & Stroock & Lavan LLP, a national law firm with offices in New York, Los Angeles and Miami, named three new Partners and six new Special Counsel, effective January 1, 2009. "These are exceptional attorneys, in ...
Reviewing 2008: Will we ever learn our lesson? - Chicago Sun-TimesWhat hit us this year? Let's sort it out and have a look ahead. This autumn, in a reversal of fortune perhaps unprecedented in modern history, American society morphed into the Nouveau Poor. The American dream became a galloping nightmare, the end of ...
Grey Bruce Poetry Project - Owen Sound Sun TimesWelcome to the Poetry Project - a place to share your poetry and to enjoy the many voices of our community. Take a look at our community forum for Grey/Bruce poets. Submit your poems. Add links to your favorite poetry sites. Load up audio or videos ...
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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