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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

Taylor mortgage loans news:

Meltdown far from over, new mortgage crisis looms - Associated Press
WASHINGTON (AP) -- Black Friday's retail shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same ...

Malls are next to face foreclosure - Herald Tribune
WASHINGTON - The full scope of the housing meltdown is not clear, and already there are ominous signs of a new crisis -- one that could turn out the lights on malls, hotels and storefronts nationwide. Even as the holiday shopping season begins in ...

Taylor Armerding: 'Free market' never had a chance - Salem News
I keep hearing that our current economic meltdown is proof that the "free market" doesn't work. Oh, please. Since when have we had a truly free market? If our current troubles prove anything, it is that the free market hasn't been given a chance to ...

Mortgage meltdown goes to mall - Boston Herald
T he full scope of the housing meltdown isn’t clear and already there are ominous signs of a new crisis - one that could turn out the lights on malls, hotels and storefronts nationwide. Even as the holiday shopping season begins in full swing, the ...

New mortgage crisis looms - Lexington Herald-Leader
WASHINGTON — The full scope of the housing meltdown isn't clear and already there are ominous signs of a new crisis, one that could turn out the lights on malls, hotels and storefronts nationwide. Even as the holiday shopping season begins in full ...

Malls, hotels next victims in new mortgage crisis - Town Hall
The full scope of the housing meltdown isn't clear and already there are ominous signs of a new crisis _ one that could turn out the lights on malls, hotels and storefronts nationwide. Even as the holiday shopping season begins in full swing, the ...

New mortgage crisis: commercial properties - San Francisco Gate
Friday, November 28, 2008 (11-28) 04:00 PST Washington -- The full scope of the housing meltdown isn't clear, and already there are ominous signs of a new crisis - one that could turn out the lights on malls, hotels and storefronts nationwide. Even ...

Meltdown not over, new US mortgage crisis looms - Boston Herald
W ASHINGTON - The full scope of the U.S. housing meltdown isn’t clear and already there are ominous signs of a new crisis — one that could turn out the lights on malls, hotels and storefronts across the country. Even as the holiday shopping ...

Next mortgage crisis involves commercial properties - Canton Repository
WASHINGTON The full scope of the housing meltdown isn't clear and already there are ominous signs of a new crisis — one that could turn out the lights on malls, hotels and storefronts nationwide. Even as the holiday shopping season begins in full ...

Housing meltdown far from over, new mortgage crisis looms - Texarkana Gazette
WASHINGTON—The full scope of the housing meltdown isn’t clear and already there are ominous signs of a new crisis—one that could turn out the lights on malls, hotels and storefronts nationwide. Even as the holiday shopping season begins in full ...