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News about Mortgages:
Economic stimulus plan tied to energy savings - International Herald TribuneWASHINGTON : President-elect Barack Obama and leaders in Congress are fashioning a plan to pour billions of dollars into a jobs program to jolt the economy and lay the groundwork for a more energy-efficient one. The details and cost of the so-called ...
Downturn hits Dubai's building bonanza - Guardian UnlimitedDubai 's multibillion-dollar building boom is grinding to a halt, with some of the Gulf emirate's most ambitious construction projects put under review as the global economic crisis hits home. Meraas, a government-owned developer, confirmed yesterday ...
Saudi real estate market in spotlight - Gulf Daily NewsLONDON: Robust economic growth prospects and escalating real estate demand have put Saudi Arabia in pole position to replace overbuilt Dubai as the Gulf's new magnet for international property investors. Saudi Arabia's alluring property market ...
Record rate cuts by Europe central banks - Gulf Daily NewsNEW YORK: Central banks in Europe slashed their benchmark interest rates by record amounts yesterday to fight the global economic crisis. Many analysts applauded the large rate cuts but also indicated that even more sweeping moves may be needed to ...
European bourses close lower after rate cuts - Gulf TimesLONDON: European stock markets closed slightly lower yesterday after a volatile trading day featuring dramatic interest cuts from central banks while US shares were little changed around midday. Four European central banks announced steep cuts to ...
Europeans cut key interest rates sharply to fight crisis - Gulf TimesNEW YORK/LONDON: Central banks in Europe lowered their benchmark interest rates by record amounts yesterday to fight the global economic crisis. Many analysts applauded the large rate cuts but market reaction indicated that even more sweeping moves ...
Gulf facing a liquidity drought - Financial TimesCompanies in the oil-rich Gulf have performed spectacularly well over the past few years, as the region basked in abundant liquidity and governments pursued aggressive diversification drives. But, as a global recession sets in, oil prices tumble and ...
Dubai is facing serious financial problems - The AustralianBRITISH Chancellor of the Exchequer Alistair Darling's pre-budget report on Monday contained at least one item that raised not a flicker of attention at Westminster. But it will have been keenly noticed far away in the Gulf: he has decided that ...
Sniper from first Gulf War needed help - Peninsula Daily NewsPORT TOWNSEND -- Clay Neideigh is a quiet, gentle man who knows what it's like to live in harm's way. He also knows what it is like to scramble to provide a secure environment for his children. He was an Army sniper in the Middle East during the ...
A real estate bust in Dubai? It’s no mirage - Houston ChronicleThe classified ads in Dubai read like an obituary for a real-estate market that until a few months ago seemed immune from the global credit crisis. A Turkish investor, who identified himself as Sebat, took out 10 bright yellow ads in the Nov. 25 ...
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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