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News about Mortgages:
US Govt to bail out mortgage banks - IndependentThe US Government is considering bailing out two of America's biggest financial institutions. Fannie Mae and Freddie Mac together hold or back half of the USA's mortgage debt. The proposed Government take-over, due to be announced today, would cost ...
Rangel had no-interest mortgage more than 10 years - FOX NewsThe New York congressman's lawyer, Lanny Davis, told The Associated Press that Rangel got his no-interest deal for the villa in the Dominican Republic because he was an original buyer in the resort development, and in the early days after Rangel's ...
Call for higher tax for super rich - Epping Forest GuardianHigh earners on more than £100,000 a year should pay higher tax rates to help achieve greater equality between the rich and poor, the TUC has urged. The union organisation said its research showed that an increase in the number of super rich had ...
Chapter 7 planned by Seibt - Pahrump Valley TimesHans Seibt, a prominent landowner in Nye County, announced he plans to file for Chapter 7 bankruptcy protection for various companies. Seibt's companies include Clark and Nye County Development Corp., Seibt Enterprises, N.S. Development Corporation ...
Obituaries published Sept. 7 - SaratogianRoger J. Tarte Sr. WILTON - Roger J. Tarte Sr., of Cherry Tree Lane, Wilton, died at his residence Friday, Sept. 5, 2008. Born in Troy, he was the son of the late Roger I. and Nelda MacDonald Tarte and beloved husband of Sandra P. Shepard Tarte of ...
How to determine your bank's financial health - Los Angeles TimesMore people have been asking that question since the collapse of Pasadena mortgage giant IndyMac Bank in July. After the government took over the bank, many customers had to wait in line for hours before they could speak to anyone about their ...
Takeover imminent for Fannie, Freddie - Inside Bay AreaWASHINGTON — The Bush administration on Saturday prepared to take over the troubled housing finance companies Fannie Mae and Freddie Mac, after concluding the companies don't have enough capital to continue to play their crucial role funding home ...
Barnes & Noble exec aids Katrina victims - New Orleans Times-PicayuneJENNIFER ZDON/THE TIMES-PICAYUNE Gentilly resident David Briant, left, talks with Oji Alexander, assistant project manager for Project Home Again, outside Briant's Katrina-damaged home Aug. 28. Briant's family is one of 20 chosen by Project Home ...
Foreclosure Effect on Home Prices May Be Small - Wall Street JournalEven though data Friday from the Mortgage Bankers Association indicated that U.S. foreclosures hit a record in the second quarter, that won’t necessarily translate into big declines in home prices. (Getty Images) That appears to be the conclusion ...
Massive mortgage bailout in works - Buffalo NewsWASHINGTON — The government has formulated a plan to put troubled mortgage giants Fannie Mae and Freddie Mac under federal control, prop them up financially and dismiss their top executives, federal officials told the two companies Friday ...

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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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