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Financial News
The financial meltdown - Pensacola News Journal
That's when the first stress fractures started showing in the overbuilt U.S. housing market. At the time the drop in sales was seen as an overdue correction, a healthy cooling off period for a red-hot housing market. But as 2006 wore on into 2007 and ...

Proctor’s gulag - Arkansas Times
The controversy over Circuit Judge Willard Proctor of Little Rock, reported in detail in these pages originally by Mara Leveritt, has grown. The  state judicial discipline agency has released a burgeoning list of alleged ethical violations by the ...

Provided by Flagler College - Florida Times-Union
These students, chatting in a lounge, were among the first to attend Flagler when it opened as an all-girls college in 1968. 1887 - Local icon Henry Flagler builds the luxury resort Hotel Ponce de Leon, which eventually becomes Flagler College's ...

America's Most Expensive Houses - Newsweek
Not every sector of the housing market is tanking; high-end real estate sales are surprisingly strong. A look at the country's priciest residences. The subprime mess has wreaked havoc with the U.S. housing market. Well, at least most of it. Sales of ...

News Briefs - 11/10 - Maryland Daily Record
A new statewide civil domestic violence database has been launched by the Maryland judiciary in an effort to help police and the courts better enforce protective orders. The online-accessible database, created with a grant from the U.S. Justice ...

If redundancy strikes, here's how to work from home - Daily Telegraph
Kerry Field and Katy, four, and Thomas, five months. 'Working this way is much more flexible,' she says Photo: JOHN LAWRENCE As economic difficulties result in more redundancies, even more people may need to find work that they can do from home. But ...

Unfinished Business - Seattle Times
At 89, Bill Cumming, rancher, former communist and a member of the famed Northwest School of artists dating back to the 1930s, is still painting and teaching and has no plans to retire. His wife, Dena Lee-Cumming, 55, was his model in the 1970s ...

Which candidate will guarantee principles? - Rocky Mountain News
I heard today that the new House Republican plan will also include the 4 principals that we have all come to know & love: oversight of the program, limitation on CEO compensation, potential return of profits to taxpayers and protection for those ...

Charities feel the pinch on both sides - Inrich.com
Even before the recent stock market and bank crises, Virginia was experiencing an economic downturn, with increases in the jobless rate and job cuts in state government and businesses. Robert L. Thalhimer of the Community Foundation Serving Richmond ...

Nevada, Michigan, Florida lead 'underwater' list - Newsweek
Here's a shocker: almost half of Nevada homeowners with a mortgage owe more to the bank than their homes are worth. Here's another: If you add in the homeowners like them in California, Arizona, Florida, Georgia and Michigan, together they account ...

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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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