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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

Lake mortgage rates news:

Two big banks cut mortgage rate - Edmonton Sun
TORONTO -- Two of Canada's big banks are cutting mortgage rates on a variety of terms, reflecting a drop in borrowing costs in the bond market, where banks finance their mortgage lending. The Royal Bank of Canada said yesterday it is cutting rates ...

Business is slow, even at the foreclosure auction - Austin American-Statesman
Still, about 100 people stood in a cold wind outside the Travis County courthouse on Tuesday morning to look for good deals amid scores of homes being auctioned because their owners could not keep up with the mortgage payments. With a pocket full of ...

Daily Report - Baton Rouge Business Report
Future System Advisors has been awarded the first patent for a form of life insurance, a move that could generate billions of dollars in royalty payments for the company. "This is having a much bigger effect than I ever thought it would have," Future ...

BC-UT--Economy-Court Filings,1st Ld-Writethru/338 - Daily Herald
SALT LAKE CITY -- The lagging economy appears to be driving up civil court filings in Utah. Mortgage foreclosures and liens were up 111 percent between July and October compared to the same period last year. A court analysis also indicates that the ...

e6313 BC-UT-HotelOccupancy 11-25 0218 clone - Daily Herald
SALT LAKE CITY -- Hotel occupancy rates -- a key indicator of the health of the state's tourism industry -- declined nearly 5 percent in Utah last month compared with last year. Figures from the Rocky Mountain Lodging Association show the statewide ...

Court cases surge as Utahns cope with economic woes - Salt Lake Tribune
A bad economy historically means more business for the courts. "If you go back over the last 15-20 years, whenever there's a downturn ... you generally see an increase in civil filings," said state Courts Administrator Daniel Becker. Sure enough ...

Orange County: foreclosures 45% of inventory - Los Angeles Times Blogs
Foreclosed properties and "short sales" --homes for sale at less than the outstanding mortgage amount-- now comprise 45% of listings in Orange County, according to an analysis of listing data by Aliso Viejo broker Steven Thomas. Santa Ana remains the ...

Delinquent taxes draw investors - Arlington Heights Daily Herald
Except for the occasional thump of fingers pounding keyboards with simultaneous bids, rows of investors Tuesday were silent, intent and on task. Participants in Lake County's annual tax sale had done their homework and sat for hours at a stretch, for ...

Kiplinger names Clarksville as # 2 in the Nation for Housing ... - Leaf Chronicle
With foreclosures skyrocketing and home prices plummeting, real estate has had a tough year. But in certain pockets across the country the damage has been minimal -- if nonexistent. We found six cities with slow, steady growth, using data from Fiserv ...

Woman awaits trial on 3rd felony theft charge in 8 years - Fort Worth Star-Telegram
Cowboys are far too fragile for Wade Phillips to push his luck Campaign asks Texans to support open-carry law for handguns Here’s a new twist to the Big 12 South champion debate Some electricity customers liable to be shocked by higher rates Dallas ...