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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
Cass mortgage quotes news:
Financial News
McCain slams Obama on 'redistribution of wealth' - Boston Globe
Conservative bloggers and websites have been flogging it, and now John McCain's campaign has put its imprimatur on it: a newly disclosed radio interview in which Democratic rival Barack Obama talks about the redistribution of wealth. The interview ...

It’s truly vital that we keep Chambliss - Atlanta Journal Constitution
We fiscal conservatives may indeed find ourselves in the wilderness after Tuesday. If so, the first duel will be why we were uncompromising when the consequences were so severe. A filibuster-proof Senate, if combined with a Barack Obama presidency ...

How will the Chancellor repay debt? - bbc
The Chancellor has said that he needs the flexibility in the looming recession to spend and borrow more than would be possible if he adhered to the fiscal rules. These are the strictures on how much the Government can borrow that were introduced in ...

Hip-Hop Rumors: T-Pain Disses NY "Copycat," Katt Williams's Weird Vid ... - allhiphop.com
First of all, don't forget the late rumors from yesterday! We had that massive Jeezy concert fight! A bad Lil' Kim rumor! You DO know a new war of words is heating up with Jay-Z and Jaz-O, right? OHHH...yeah...click to see them. I want to thank ...

Political Punch - ABC News Blogs
Jake Tapper is ABC News' Senior White House Correspondent based in the network's Washington bureau. He writes about politics and popular culture and covers a range of national stories. Friday afternoon in Kettering, Ohio, Sen. Joe Biden, D-Del., took ...

October 2008 - Kansas City Star Blogs
According to Republican Party statements. Barack Obama has not been “tested.” I am having difficulty understanding what test John McCain has passed that Sen. Obama has not passed. Was it the financial crisis this past month, where Sen. Obama ...

The World Breathes a Sigh of Relief as America's Light Goes Back On - OpEdNews.com
I couldn't believe how many people told me I wasn't the only one waking up in the middle of the night last night, unable to sleep. It's not that big a stretch to speculate that all over the world, billions of people who were walking on eggshells ...

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