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News about Mortgages:
Chicago area residents buy auctioned homes - WLSEveryone is always looking for a deal, but in this economy, with mortgage defaults way up, people are finding bargains on foreclosed homes. Banks are unloading these houses at auctions. One was taking Sunday in suburban Rosemont, where there have ...
In brief: Food 4 Less | Deerfield Capital | Equity Int'l - Crain's Chicago BusinessDiscount grocer Food 4 Less is tentatively slated to open a store early next year in a former Cub Foods location at the Chatham Ridge Shopping Center, 87th Street and the Dan Ryan Expressway. Food 4 Less signed a lease in August, an executive with ...
MB Financial Incorporated - Chicago TribuneJob: Chief executive and largest shareholder of Chicago-based Albank Corp., owner of Albany Bank & Trust Co. Age: 57 Background: Harvard College graduate; law degree and a master's in business administration from the University of Chicago. Spent a ...
Eviction notices pile up, but Dart smiling - Chicago Sun-Times• • Why? Dart's eviction rate is practically nil. He has only evicted three tenants since an Oct. 20 court order to resume evictions. • • Why? New eviction rules worked out between Dart and the court system, which give renters time to ...
Economists on watch for signs of recovery - Akron Beacon Journal• California. And let's not leave out high energy prices, said economist Mayland, head of ClearView Economics in Pepper Pike. Mayland and economist Jack Kleinhenz were the main speakers Thursday morning before about 200 people at the 2009 economic ...
Greater Akron Chamber told to watch for key signs of economic upturn - Akron Beacon JournalIf you want to get a sense of when the economy will finally take a real turn for the better, watch for the following signs, members of the Greater Akron Chamber learned this morning: • When weekly claims for unemployment compensation begin ...
Randall T. Conte Joins Cole Taylor Bank as Chief Operating Officer - StreetInsider.comROSEMONT, Ill., Nov. 19 /PRNewswire/ -- Cole Taylor Bank today announced Randall T. Conte has joined Cole Taylor Bank as an Executive Vice President and Chief Operating Officer. In that role, Mr. Conte will be responsible for bank operations ...
Over-the-top pet accessories still have appeal - Courier NewsROSEMONT -- Until recently, I thought I was the owner of one pampered pooch. After all, Macy Mae and I celebrated our first year together -- a day henceforth celebrated in late June as Adoption Day -- with a bone-shaped carob cake, a cadre of canine ...
Over-the-top accessories for pets still have appeal - Independent RecordAP photo - A bone-shaped carob cake from Three Dog Bakery in Indianapolis marked Associated Press writer Ashley Heher’s dog Macy Mae’s Adoption Day. ROSEMONT, Ill. — Until last week, I thought I was the owner of one pampered pooch. After all ...
Foreclosure suits hit 2 North Side properties - Crain's Chicago Business(Crain’s) — Cole Taylor Bank has filed two foreclosure lawsuits seeking to recover a total of almost $8 million on a small retail property next to the Lincoln Village Shopping Center and a 32-unit apartment building two miles away. The properties ...
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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