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Chambliss, Martin Make Final Push Before Georgia Runoff - All Headline NewsAtlanta, GA (AHN) - Sen. Saxby Chambliss (R-GA) and Democrat Jim Martin are making their final push ahead of a runoff on Tuesday for a crucial seat that will put Senate Democrats one race away from getting a 60-vote majority that will block ...
Chattanooga: Habitat home for refugees to earn energy certification - Chattanooga Times Free PressThe first Sudanese civil war ended in 1972, but fighting broke out again in 1983. The second war and famine-related effects resulted in more than 4 million people displaced and, according to rebel estimates, more than 2 million deaths over two ...
Housing Continues To Lag But Market Conditions Remain Positive - ChattanooganWeakened confidence in the nation's economy continues to take its toll on the local real estate market. According to figures from the Multiple Listing Service (MLS) of the Chattanooga Association of Realtors, October housing sales fell 13.3 percent ...
AP Executive Morning Briefing - Anchorage Daily NewsCHICAGO (AP) - The nation's retailers are set to usher in the holiday shopping season Friday with pre-dawn openings, deep discounts and a downright dismal economic outlook that threatens to keep shoppers' credit cards securely in their wallets ...
Council buys 10 high-tech cameras for police cars - Daily Home OnlinePELL CITY – The council approved the purchase of 10 high-tech cameras for police vehicles Monday night. “The camera takes the emotions and personalities out of an issue,” said Police Chief Greg Turley. “It’s unbiased.” The new state-of ...
Gas, oil prices tumble - Knoxville News SentinelKnoxville area gasoline prices continue to search for the bottom, falling another 1.4 cents on Tuesday to an average of $1.785 for a gallon of regular unleaded, according to AAA East Tennessee. Prices at the pump have plummeted in recent weeks, as ...
Whisper Creek holds open house - Chattanooga Times Free PressDevelopers of the Whisper Creek at Windstone neighborhood are holding an open house from noon to 5 p.m. today. If an offer is made on one of 17 homes and the sale closes by year’s end, developer Ival Goldstein will take an additional $20,000 to $30 ...
BB&T Bank Looks To Chattanooga For Growth - ChattanooganAs Chattanooga continues to grow, BB&T Bank East Tennessee Regional President Missy Wallen says that Chattanooga is the area where BB&T has targeted for future growth. Despite economic upheaval and banks failing, BB&T Bank is still one company that ...
Chattanooga: Bankers tout cash, ability to lend - Chattanooga Times Free PressChattanooga-area banks continue to be flush with cash and have plenty of money to lend, local bankers say, though that money may come with a higher cost for businesses and consumers seeking to borrow. “When you look at how the credit crisis affects ...
Some parts of U.S. escape housing mess - USA TodayThere are no stretches of empty homes in new subdivisions. Foreclosure signs on front lawns are few. Local banks are still lending. In 17 locations around the USA, many made up of small cities surrounded by large rural areas, 50% or more of the ...
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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