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UPDATE 1-Investors sue Countrywide to force loans purchase - ForbesNEW YORK, Dec 1 (Reuters) - A group of bond investors sued Bank of America (nyse: BAC - news - people )-owned Countrywide Financial on Monday demanding that Countrywide buy every mortgage loan for which it agrees to reduce payments under a predatory ...
Mortgage relief gets stuck - Cape Cod TimesNEW YORK — The federal government keeps bailing out the financial industry, but some working in that world seem reluctant to do their part, even if that could help stem the financial system's meltdown. At the center of today's economic and credit ...
Insight: Where are seekers of value? - Financial TimesUS Treasuries are the investment asset of the year. The less they yield, the more their fans adore them. Then, again, these fearful days, yield seems to have nothing to do with investment calculation. Purported safety is all. “Super-safe Treasuries ...
Housing prices more affordable - Regina Leader-PostThe recent fall in housing prices in Canada has made home ownership more affordable, and broad-based cuts to mortgage rates announced Wednesday will make that dream even more affordable. The upside to the downside in housing prices is it has made ...
Federal Boost May Spur Buyers of Bad Assets - Street.ComThe major challenge to wooing investors back to the market is that they are rife with uncertainty over how far home prices will drop and how long the economy will take to recover. That uncertainty makes it difficult to ascertain the value of ...
Canadian mortgage professionals polish image in wake of U.S. subprime ... - 680 NewsVANCOUVER, B.C. - The Canadian mortgage industry is polishing its image in the wake of the subprime mortgage meltdown south of the border by boosting its education standards and forcing new members to earn their stripes before landing a professional ...
Canadian mortgage professionals polish image - Prince Edward Island GuardianVANCOUVER — The Canadian mortgage industry is polishing its image in the wake of the subprime mortgage meltdown south of the border by boosting its education standards and forcing new members to earn their stripes before landing a professional ...
People in Business - Nashville TennesseanTennessee State Board of Accountancy has announced candidates who are Nashville residents who passed the Uniform Certified Public Accountant examination: James N. Lane, April L. Mitchell and Chandar A. Reed of Antioch; Robert A. Argo, Amy E. Mitchell ...
RBS to give struggling homeowners more time to pay - 680 NewsLONDON - Royal Bank of Scotland Group PLC said Monday it would give homeowners who miss mortgage payments at least six months before starting repossession action - double the three months it used to give. The move comes on the first business day ...
Southern Premiere - PopsugarDec 1 2008 - 7:53pm Brad Pitt and Angelina Jolie walked the red carpet Monday night in New Orleans to premiere The Curious Case of Benjamin Button . On Our Radar: Karl Lagerfeld's Silent Tribute to Coco Chanel FABTV: Victoria Beckham Collection Fab ...
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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