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News about Mortgages:
Mortgage debt forces thousands to sell up - Times OnlineMore than one in five homes on the market are there because their owners cannot afford the mortgage repayments, The Times has learnt. A survey of estate agents suggests that at least 5,000 properties a week are being put up for sale by “forced ...
Boomers keep real estate market healthy - Haliburton EchoToronto’s aging population will likely be the foundation for Haliburton County’s healthy real estate market over the next 10 years, brokers say. As the baby boomers reach their 60s and begin to ease into retirement or semi-retirement they will be ...
The week's top Personal Finance stories - MarketwatchNeed some good news? Here's something: Even as consumer confidence hits historic lows, consumers did not savage companies in the latest survey by the University of Michigan's American Customer Satisfaction Index. See full story. How to invest well ...
Only drastic action now will save us, says Gordon Brown - Times OnlineBritain would face an even more severe recession without the multi-billion-pound tax cut and spending package that will be unveiled on Monday, Gordon Brown said yesterday. In a dramatic attempt to raise the political stakes before the most important ...
TREASURIES-Longer bonds rise as inflation pressure fades - ForbesNEW YORK (Reuters) - Long-dated U.S. Treasury debt prices rose Wednesday on signs of inflation fading after the government reported a record drop in consumer prices in October. Growing losses in global stock markets due to recession fears have also ...
OBAMA'S FUTILE WAR ON LOBBYISTS - New York PostBarack Obama promised the end of the era of lobbying as we know it during the campaign, but the National Marine Manufacturers Association didn't get the message. Nor did the National Automobile Dealers Association. Nor anyone else who can make a ...
Lot owner gets in line on Westwood Hills foreclosure - TradingMarkets.comCircuit Judge Jeff Hines granted a request from Judy Green of Gulf Shores, Ala., to intervene in the case. According to court records, Green bought a lot in the proposed residential development in January for $75,000, but the deed wasn't recorded ...
Second Baptist to celebrate 117 years - Herald-Star"The Church is One Foundation" is the theme for Second Baptist Church's 117th anniversary celebration to be held Sunday beginning at 9:15 a.m. with church school. The Rev. Calvin McLoyd Jr. will officiate for services during the day with the Rev ...
Why Lobbyists Will Love the Obama Era - Article.nationalreview.comB arack Obama promised the end of the era of lobbying as we know it during the campaign, but the National Marine Manufacturers Association didn’t get the message. Nor did the National Automobile Dealers Association. Nor did anyone else who can make ...
Erie County Real Estate Transactions - Buffalo News• 31 Lanoche Court, Michael A. Young; Karen A. Young to Yijun Cheng; Li Li, $525,000. • 1 Cloister Court, Mary Michael Egan; Edmund A. Egan to Michael P. McGorry; Pamela M. McGorry, $466,000. • 73 Hampton Hill Drive, Nicholas D. Mecca; Efterpe ...
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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