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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

Cooper mortgage loans news:

Tennessee warns of rise in foreclosure scams - Nashville Tennessean
Scams built around false promises to help borrowers facing foreclosure hold onto their homes — perhaps perpetrated by some of the same people who issued predatory loans to begin with — appear to be on the rise, the state's attorney general told ...

Man faces 16 years for mortgage fraud - East Valley Tribune
A Phoenix man is facing a minimum 16 years in prison for his role in a fraudulent mortgage loan scheme involving the purchase of a $3.2 million Paradise Valley home 14 years ago. Delanie Belfield Ross, 39, was found guilty Friday of three felony ...

How Citi's Fortunes are Tied to Housing's - BusinessWeek
By James Cooper Another one bites the dust—almost. This time it was struggling giant Citigroup ( C ) that needed a government rescue as growing worries about the sinking U.S. and global economies fueled angst about the health of financial ...

Credit crunch hits small firms - Detroit Free Press
Ann St. Peter, who owns Pinwheel Bakery in Ferndale, always figured that people would cut out the $100 dinners at fancy restaurants in trying economic times. But when she opened her bakery about 18 months ago, she never imagined that colorful cookies ...

Documents show government ignored warnings of looming financial crisis - 680 News
WASHINGTON - The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient ...

Morning Brief: Here comes another $800 billion - Foreign Policy Blogs
In yet another radical move, the U.S. Federal Reserve and the Treasury Department announced $800 billion in new financing Tuesday. The first $600 billion, from the Fed, is going toward purchases of debt guaranteed by Fannie Mae, Freddie Mac, and ...

Vance named as suspect in Anne Pressly death - Log Cabin Democrat
Little Rock police named 28-year-old Curtis Lavelle Vance of Marianna as a suspect in the death of Anne Pressly on Wednesday. At 5 p.m. Wednesday, a warrant was issued for capital murder. Police say Vance allegedly left his home at 1 p.m. today in a ...

Home revamp topic of meeting Finance exec, others offer conflicting ... - Las Vegas Review Journal
Governor met with banking officials Monday to discuss the Neighborhood Stabilization Program A program to buy and renovate foreclosed and deteriorated homes and sell them to middle-income residents drew the attention of Gov. Jim Gibbons and banking ...

Matter Of Records: December 1 - Wichita Falls Times Record News
Kell Propane vs. M.A. Flaharity, 199 Homestead Ln., $211.40, V3308 P579. AT&T Advertising LP vs. Bruce Harris, 3002 Speedway, $4,396.00, V3308 P853. The Estate of Richard Lynn Fanchier, et al, vs. Wichita Falls Care Center Inc., 7473 Row 25, Orland ...

Life on Recession Road - Times Online
Bob Cooper, 58, and his wife Joan, 49, bought the Craufurd Arms pub four and a half years ago for £36,000 having moved from Slough to Maidenhead and left the motor trade in search of a “better social life”. Business has been almost halved in the ...