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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.
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Aurora mortgage loans news:
Foreclosure Machine Grinds On Through Holiday Season - The Washington Independent.comThis is supposed to be the season for a break in home foreclosures, a pause in evictions over the holidays. But it’s not working out that way for everyone. And certainly not for Julio Angulo of suburban Virginia, another victim of a foreclosure ...
GRAUER: Government finances look like one big sub-prime mortgage - Rocky Mountain NewsIf you think the current mortgage-related sub-prime meltdown has been bad, you haven’t seen anything yet. The current state of the federal government’s finances looks suspiciously like the mortgage sub-prime mess. We need to learn from the ...
Register for FREE - Wall Street JournalIt is amazing what a trust fund can do. Two weeks ago, Wachovia couldn’t get arrested. It was scorned by analysts, a pain to investors and low on potential acquirers because of its bad loans. Twice in the past week it came close to failure in what ...
Vance named as suspect in Anne Pressly death - Log Cabin DemocratLittle 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 ...
General Growth Properties gets loan reprieve - Buffalo NewsGeneral Growth Properties Inc. has received a two-week extension on mortgage loans totaling $900 million, as the troubled shopping mall owner works to stave off bankruptcy and negotiate longer-term extensions with lenders. The mortgages cover two ...
Bernanke: lower interest rates are "feasible" - Buffalo NewsFederal Reserve Chairman Ben Bernanke said Monday that further interest-rate cuts are "certainly feasible," but he warned there are limits to how much such action would revive an economy likely to stay weak well into next year. The Fed's key interest ...
Homeowners say no help from lenders - Contra Costa TimesDAWN AGUIAR sits outside her Fremont home Thursday. She says she tried to work on her mortgage problem, but the lender talked down to me like I was a deadbeat. ( AHBECK/STAFF) Numerous homeowners who have beseeched lenders for help with restructuring ...
Dealing with underwater mortgages - Denver PostDavid Craig knows how draining it can be to make payments on a home that is worth less than the mortgage debt on it. The Brighton-area resident and his wife have struggled the past two years to carry not one, but two, homes valued at less than what ...
Local lender key in meltdown - Denver PostA Douglas County company that became a major player in the nonprime mortgage market was at the heart of a strategy that helped push Lehman Brothers into bankruptcy. Aurora Loan Services, a Lehman subsidiary, made home loans to borrowers with credit ...
BELLCO CREDIT UNION OPENS 15th BRANCH IN AURORA - dBusinessNews.comDenver - Bellco Credit Union (www.bellco.org), Denver's largest credit union with $1.9 billion in assets, more than 320 employees and 15 branches across the Denver-metro area, recently opened a new branch at Smoky Hill/E-470 on October 14 in ...
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