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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

Lyon mortgage loans news:

Home foreclosures on the rise in Franklin County - Public Opinion
More on the market: Foreclosed homes in Franklin County jumped from 16 last year to 28 today. In more typical economic times, the county has six to seven foreclosures on the market. Home foreclosures are up. The number of properties listed for ...

New businesses - Providence Journal
BANAI ENTERPRISES LLC: A: Tawab Banai, 287 Armistice Blvd., Pawtucket 02861. Subway restaurant. October 24 Sayer, Regan, Thayer & Flanagan, LLP: P: Richard N. Sayer, 617 Paradise Ave., Middletown 02842. Law practice. Mastech, Inc.: P: Steven J ...

Mortgage rate rises nearly half a point - Sacramento Bee
Sacramento's unsteady housing market could do without higher mortgage rates. But that's what it's getting. Mortgage rates jumped to an average 6.46 percent for 30-year, fixed-rate loans, up from 6.04 percent last week, mortgage giant Freddie Mac said ...

Bargain Hunters Help Shrink Housing Glut - Wall Street Journal
Lower home prices are luring some buyers back into the U.S. housing market, but foreclosures and a weakening economy are likely to keep downward pressure on prices for at least another year, economists say. A quarterly Wall Street Journal survey of ...

Developers finding lenders pickier - Milwaukee Journal Sentinel
Developers, take heart. There are lenders willing to fund major commercial projects. Yet continued fallout from the subprime mortgage collapse has development firms facing more stringent conditions from banks, insurance companies and other financing ...

A toxic confusion - Emporia gazette.com
THE TERMS being tossed about in this global crisis are mind boggling — mark to market, credit default swaps, collateralized debt obligations, teaser rates, ARM’s, Fannie Mae, Freddie Mac, sub-prime, derivatives, Sarbanes-Oxley, Gramm-Leach-Biley ...

I.E. Bizzwire - San Bernardino County Sun
According to a news release from the California Association of Realtors, the Federal Housing Finance Agency has announced that the conforming loan limit for 2009 will remain at $417,000 for most areas in the U.S., unchanged since 2006. Loan limits ...

Crisis Creeps Closer - Flathead Beacon
As Semitool, Columbia Falls Aluminum Company and Plum Creek Timber scale back their respective operations, many of our Flathead Valley neighbors are carrying pink slips in their pockets. It has been a brutal couple months. The stock market has fallen ...

A Vote for Mukasey Is a Vote for Torture - Common Dreams
Judge Michael Mukasey admits waterboarding is repugnant, but refuses to say whether it amounts to torture. Yet Democratic Sens. Charles Schumer and Dianne Feinstein voted for his confirmation as U.S. attorney general anyway. Mukasey, Schumer and ...