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Fire damages house among 1st wired for electricity - Buffalo NewsA fire in suburban Detroit has damaged a boarding house built for employees of inventor Thomas Edison that was among the first buildings to get electric lighting. A spokeswoman for The Henry Ford museum complex says Monday afternoon's blaze was ...
Burris Donated Thousands to Blagojevich; Won Contracts - NewsMax.comRoland Burris, the former Illinois Attorney General named by Illinois Gov. Rod Blagojevich to fill the U. S. Senate seat vacated by President-elect Barack Obama, is a lobbyist who has contributed over $15,000 to the governor’s campaign while also ...
Topping 2008: Macomb's big stories - Macomb DailyFor anyone who grew up in the Motor City, especially in blue-collar Macomb County, the idea that the Big Three automakers would crash and burn seemed absurd. Until now. In 2008, the county suddenly faced the prospect of an economic meltdown as its ...
Murders, fire top list of 2008 crime news - Daily Tribune NewsPerhaps some of the more interesting local crime-related news in 2008 centered around one man and one major event in his life -- Greg Cordell and the fire that destroyed his $2 million home. What began with that 2004 blaze, which has since been ...
24 ways to fix your life in 2009 - Atlanta Journal ConstitutionDead-end job search? Research your online reputation. Enter your name into search engines to see what employers might find. Last year at this time, we were wondering if it could get any worse. It did. Trouble in the subprime market exploded into an ...
How to Fix Your Life in 2009 - Wall Street JournalLast year at this time, we were wondering if it could get any worse. It did. Trouble in the subprime market exploded into an across-the-board rout. The credit crunch evolved into a global financial crisis. Markets tanked. Mighty institutions fell ...
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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