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News about Mortgages:
Top 5ive Smart Money Moves - Smart MoneyNearly half of American families spend more than they earn each year, according to the Federal Reserve, plunging them further and further into debt. That's why it's imperative to create a budget, says Judy Lawrence, author of "The Budget Kit." Make a ...
Fannie and Freddie: The Next President's First Migraine - US News and World ReportJohn McCain and Barack Obama have been choosing their words carefully when it comes to the foundering mortgage giants Fannie Mae and Freddie Mac . No doubt they're starting to realize that whoever gets elected in November is likely to get saddled ...
New Deal For Lawrence - Indian CricketMatt Lawrence looks set to end his career as a Palace player after signing a new two-year deal with the club. Lawrence's current contract expires at the end of the season and boss Neil Warnock had made signing the versatile defender up for another ...
Barber Office Under Receivership - Morning NewsMortgage lenders recently asked the court to appoint a receiver for the Old Missouri Office Building in Fayetteville, which is owned by Brandon Barber. The primary mortgage granted Sept. 25, 2006 by Citimortgage Inc. and now held by CGCMT, a ...
Lawrence pens Palace deal - Footy MadCrystal Palace defender Matt Lawrence has signed a new two-year contract with the Championship club. The veteran defender is now likely to finish his career at Selhurst Park as he will be 36 when the deal expires in 2010. "I'm more than fit enough to ...
Prescriptions for Fannie and Freddie - Times DailyAs policy makers work to ease the strain on the mortgage giants Fannie Mae and Freddie Mac, a consensus is emerging that the two companies will have to look substantially different in the long term. The New York Times Leading figures from across the ...
BOOK REVIEW: Shiller's Subprime Solutions - Street.ComWho's to blame for the subprime crisis? Real estate speculators, mortgage brokers, underwriters, ratings agencies, borrowers, appraisers and investment bankers have come under scrutiny for the roles they played. The answer is all of the above ...
MAHONING COUNTY - VindicatorLuther Griffiths, legal age, 3711 Indian Run, #12, Canfield, and Barbara A. Bero-Cole, legal age, 2575 Mount Vernon Ave., Youngstown. Mark B. Bretschneider, 51, of 16610 Lincoln Ave., Berlin Center, and Marjorie L.Healey, 48, of same. Theodore J ...
August 2008 - ABC News BlogsABC News' Scott Mayerowitz reports: Make all the Don Quixote jokes you want, but even New York City -- where the smallest parcel of land comes at a premium -- is considering windmills to help power the metropolis. Mayor Michael Bloomberg has proposed ...
The call Swan hoped for - AgeAFTER weeks of jawboning the banks, Treasurer Wayne Swan would have been relieved to take a call from National Australia Bank chief Ahmed Fahour late on Wednesday telling him he was about to fall into line on interest rates. Whether the NAB blinked ...

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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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