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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. View all Terms

Jackson home equity loans news:

Credit crunch send chills across business spectrum - Atlanta Journal Constitution
In today’s world, there’s no place to hide for businesses or consumers. The financial crisis sweeping the globe is closing the loan window for many of metro Atlanta’s companies and their customers. That’s because stock markets and banks from ...

Several options exist for homeowners - Jackson Clarion-Ledger
This year, the payment had jumped to $772, and Alexander Larkins was out of work. "We were going to have to move out of our house," said Falona Larkins, 35, of Jackson. "The foreclosure date was Sept. 16." Around Sept. 13, she discovered one last ...

Fed slashes interest rates, but Wall Street still falls - Jackson Sun
WASHINGTON - Even an orchestrated round of rate cuts by the world's central banks was not enough to stem the bleeding on Wall Street. The Federal Reserve, desperately trying to jump-start the lending that keeps the U.S. economy moving, on Wednesday ...

Home is where the hurt is - Milwaukee Journal Sentinel
Susan Kerwin’s three-bedroom house in Jackson has been in move-in condition since she put it up for sale in May. The trouble is finding someone who wants to move in — or even make an offer. She’s heard lots of reasons why people who have looked ...

National crisis, local implications: Metro home market declines - Jackson Clarion-Ledger
As soon as their home sells, they're planning to buy the new property. The only problem? Since putting their existing home on the market two months ago, not one perspective buyer has stopped in for a tour. "I'm not going to buy the other home until I ...

Fed, central banks cut rates to aid world economy - Jackson Sun
WASHINGTON — In a rare coordinated move, the Federal Reserve and other major central banks from around the world slashed interest rates Wednesday to prevent a mushrooming financial crisis from becoming a global economic meltdown. The Fed reduced ...

Car dealers face the grim reaper - CNN Money
NEW YORK (CNNMoney.com) -- If you want to see how America's credit crisis is hitting the streets of your hometown, go to your local car dealer. Auto dealers depend on credit. They need it to run their stores and their customers need it to buy their ...

USDA announces $342 million in rural broadband, telecommunications ... - High Plains Journal
U.S. Secretary of Agriculture Ed Schafer Sept. 24 announced that broadband and telecommunications loans totaling more than $342 million are being awarded to 18 communications firms serving 22 states. The funds will help bring new and improved ...

Column: Debt consolidation can lead to brighter future - Star-Press
It adds up quickly, doesn't it? A car repair, new refrigerator, a couple of wedding gifts, flowers for a friend's birthday, a celebration dinner for you and your spouse, a little paint and carpeting to spruce up a room, a weekend getaway, tickets to ...

Settlement may offer help for homeowners - Amador Ledger-Dispatcher
There may be some good news for people trying to stay in their homes. Facing a lawsuit over deceptive mortgage practices, Bank of America Corp. has agreed to modify tens of thousands of loans to keep people in 11 states from losing their homes ...