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Drastic times, drastic measures: home is the office - KUSA-TVThere is a lot to do even on a Sunday. Norma's husband Michael calls from the office down the hall. She's a loan processor. And he is a mortgage broker. "We're very lucky to have the opportunity to be able to live the way we're living right now ...
As Home Prices Drop, Some Buyers See Opportunity - Flathead BeaconA slowing economy and the troubles plaguing the national housing market have potential buyers in the Flathead Valley tip-toeing around home and building investments at a time local professionals say they should be jumping in. “In terms of times to ...
Stocks recover on Citigroup foreclosure deal - Rocky Mountain NewsNEW YORK — A deal that would help prevent more mortgage foreclosures pulled Wall Street out of a slump today, giving the market a mostly higher close. Democratic lawmakers reached an agreement with Citigroup Inc. on a plan to let bankruptcy judges ...
Denver-area home prices plunge a record 13% in 2008 - Rocky Mountain NewsThe price has been reduced for this home in Denver's Park Hill neighorhood. Average metro-area home sales prices fell a record 13 percent over the past year. Photo by David Zalubowski / Associated Press A for-sale sign stands outside a new southeast ...
Aslinger receives GRI designation - Chattanooga Times Free PressLorry Aslinger of Keller Williams Realty has earned the Graduate Realtor Institute designation. She joins other top producers in the residential real estate industry who hold the designation. Ms. Aslinger earned the GRI designation by attending an ...
FROM OUR READERS: Report on home prices didn't tell local story - Las Vegas Review JournalThere is an old saying that all real estate is local. I don't particularly like this statement, because both national and international factors can and do have an impact on any local real estate market. Facts cannot be denied. When Las Vegas was ...
Scourge of forest beetles turned into a profit - Raleigh News & ObserverDENVER -- A tiny middle school tucked in a snow-covered mountain valley ditched its decades-old coal-fired boilers for a wood pellet furnace, partly due to a beetle not much bigger than an eyelash. Mountain pine beetles have ravaged wide swaths of ...
Economists offer guidance to Utahns for '09 - Salt Lake TribuneProbably not quickly enough to suit most folks. In Utah, in 2009, "We're still going to have more layoffs and more home price depreciation," said Mark Knold, chief economist with the Utah Department of Workforce Services. Much of his prediction stems ...
Avalanches kill 2 at Canadian ski area - Buffalo NewsA skier and a snowboarder were killed in separate avalanches at Canada's Whistler resort, police said Thursday, just days after eight snowmobiliers died elsewhere in British Columbia. Police said the latest fatality occurred Thursday when a 26-year ...
Pac-10 needs to change for Trojans to get deserved love - CBS SportslineThis newfound love for Southern California, now that the Trojans have finished throttling a Penn State team everyone knew it would throttle, is very touching indeed. Late, and very temporary, but touching. Enjoy the moment, Pete, but as of Monday ...
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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