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News about Mortgages:
House sales pick up but price trend is still downward - Times OnlineHouse prices fell by 1.5 per cent last month, wiping about £2,500 off the value of an average home, official figures show. This was the fourteenth consecutive monthly fall, pushing the average price down to £165,529, according to the Land Registry ...
Shake up for Scottish home sales - BBC News"There's the price, the surveyor has indicated on the home report that's the value of the property, you either want the property or you don't want the property." David feels the change could be beneficial because the process of buying and selling ...
Concern over new home reports - BBC NewsMost houses for sale will have to be marketed with a report costing up to £800, which includes a single survey, an energy report and a questionnaire. However, the Conservatives and the Scottish Law Agents' Society (SLAS) said it would be disastrous ...
Scottish home sellers to pay hundreds of pounds for new reports from ... - Daily TelegraphMost properties for sale will have to be marketed with a report costing up to £800, which includes a single survey, an energy report and a questionnaire. However, Scottish ministers have been warned that the effect in the current financial climate ...
Will home reports open doors? - HeraldAFtER months of nervous speculation, the introduction of one of the most fiercely argued changes imposed on the Scottish housing market in recent times will take place next week. From Monday, anyone selling a house will have to commission and pay for ...
New Scottish home reports will be as hated as the Poll Tax, solicitors ... - Daily TelegraphScottish Law Agents' Society (SLAS) claimed SNP ministers have acted despicably by making promises about the reports to the public without checking with mortgage lenders first. It also warned that the poor will be unable to afford the documents ...
Real estate pros assess the market - MyCentralJersey.comThis week, the Courier News asked real-estate professionals throughout Central Jersey to compare last year’s real-estate market with this year’s, in preparation for our article on Sunday about the prices of homes. Some of the answers are filled ...
FEMA to unveil new flood-plain maps of Kalamazoo County - Kalamazoo GazetteKALAMAZOO TOWNSHIP -- Representatives from the Federal Emergency Management Agency and the Michigan Department of Environmental Quality will host an open house Monday to present preliminary flood-plain maps of Kalamazoo County and provide current ...
Elevation checks a rising business for insurers - News-PressKris Slosser’s land surveying company has three employees and a lucrative new focus — elevation certificates. The certificates show the elevation of a building and are used by insurance companies to determine the flood insurance rate. In a ...
New flood maps put land surveyors back in demand - News-PressKris Slosser’s land surveying company has three employees and a lucrative new focus -- elevation certificates. The certificates show the elevation of a building and are used by insurance companies to determine the flood insurance rate. In a ...
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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