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FLOODGATES OPEN FOR PASD - Phoenixville NewsStaff photo by Barry Taglieber Phoenixville Phoenixville Area School District Board of Directors president Mark Casaday speaks to the board and a crowd of citizens regarding the Kimberton School Site Thursday night. Friday, November 14, 2008 8:11 AM ...
Economy leaving car dealers in the dust - Catholic OnlineThe Philadelphia Inquirer (MCT) - All roads of economic turmoil have intersected these last few weeks at the feet of 63-year-old Tony Costello: Lifelong car salesman, workaholic, holder of an unexpectedly anorexic 401(k) and, now, soon to be ...
Risk factor comes with higher yields - Daily Local NewsNo comments posted. I was rather amused by the WAM (what about me) letter in a recent Daily Local News. The writer, having invested in non-FDIC-insured securities, has sustained loss of capital and now wants the government (or some agency) to cover ...
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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