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

Campbell home equity loans news:

WaMu Files for Bankruptcy Following FDIC Seizure (Update2) - Bloomberg
Sept. 27 (Bloomberg) -- Washington Mutual Inc. , a holding company for the savings and loan that became the biggest U.S. bank to fail, filed for bankruptcy protection along with its unit WMI Investment Corp. WaMu, the 119-year-old Seattle-based ...

Treasuries Decline on Possible New Agency Creation (Correct) - Bloomberg
(Corrects story that was published yesterday in the 16 paragraph to say Putnam closed the fund because of redemptions. The net asset value didn't fall below $1 a share.) Sept. 18 (Bloomberg) -- Treasuries fell on speculation the government will ...

Fraud focus on deals to boost home sales - Times Online
Property developers offering cash and other perks in an attempt to attract homebuyers will have to give mortgage lenders full details of their “give-away” deals as part of an antifraud initiative launched yesterday. It follows a sharp increase in ...

Over your head? - Toronto Star
Over your head? Laurie Campbell, executive director of Credit Canada, a non-profit organization that offers free credit counselling, raises these red flags: Needing a credit card for everyday expenses. Borrowing from one card to pay another. Delaying ...

How not to help first-time homebuyers - Times Online
Imagine - if you are not one of the several million people who falls into this category - that you are a frustrated first-time homebuyer. Over the past few years you have resisted the temptation to borrow six times your salary to buy a dingy one ...

Some advice from experts for those who have not saved for college - Buffalo News
WASHINGTON — Three Washington-area experts answer the question: What’s the best way to pay for college if I haven’t got much money socked away? • Ric Edelman, chairman of Edelman Financial Services in Fairfax, Va.: I regret there are no ...

Real Estate Short Sales and FICO Credit Scores - Best Syndication
Real estate "short sale" is a new term of art that has entered the homebuyers' lexicon during what is considered the worst mortgage and housing crisis in a generation. A real estate short sale means that a homeowner sells his house to a third party ...

Hey coaches, start showing some guts! - ESPN.com
Buck-buck-brawckkkkkkk! It's only the first week of the season and already NFL coaches are playing a mincing fraidy-cat football, seemingly more concerned about avoiding criticism than going all-out to win games. Maybe you can understand a coach ...

Archive » 2005 » July - Banker
Welcome to the largest edition of The Banker ever produced in nearly 80 years of publishing history. At 328 pages, our July issue is a veritable gold mine of articles, interviews, facts and figures. Taking pride of place is, of course, our annual Top ...

Real estate short sales often end up being a long haul - Newark Star-Ledger
Desmond Pessoa is ready to walk away. Last October, he made what he considered a pretty good offer on a distressed property in Washington Township. It was a short sale, meaning the owner aimed to sell the home for less than what he owed the bank. It ...