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

Taylor home equity loans news:

3rd Quarter Results - Replacement - Businesswire.com
The issuer advises that the following replaces the 3rd Quarter Results announcement released today at 07.10am GMT. Please note the following changes to the release issued earlier today: Corporate loans growth at ESFG ’ s banking ...

3rd Quarter Results - Businesswire.com
Espírito Santo Financial Group posted positive results in the third quarter 2008, despite the continued crisis in the global financial markets: Consolidated 9M08 Net Income reached EUR 65.8 mn (EUR 146.7 mn in 9M07) which corresponds to an ...

Mortgage aid falls short, Bush admin official says - BusinessWeek
Two government programs designed to help hundreds of thousands of delinquent borrowers avoid foreclosure are having negligible effects, a top Bush administration official acknowledged Wednesday. One program will be revamped immediately, and the other ...

Bush Official: Mortgage Aid Not Working - CBS News
(CBS/AP) Two government programs designed to help hundreds of thousands of delinquent borrowers avoid foreclosure are having negligible effects, a top Bush administration official acknowledged Wednesday. One program will be revamped immediately, and ...

Best housing 'bailout' may be no bailout - CNN Money
NEW YORK (Fortune) -- Several mortgage-rescue plans are making the rounds in Washington, but economists say the best approach may be to sit tight. Those who favor bailouts for strapped borrowers say government intervention is needed to stop a vicious ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. Goldman’s 94 new partner-level managing directors: The past six months haven’t given Wall Street much to celebrate. These 94 , though, got ...

Question of the day: Ask the financial experts - KSDK
KSDK -- In a new KSDK.com feature, local financial experts are answering questions related to today's economy. As the economic rescue plan is retooled in certain areas, government officials say they want to focus on using some of these funds to free ...

G-20 punts on global market - Politico.com
Little was accomplished at the much-hyped summit of world leaders last week besides passing the buck to incoming president Barack Obama. With coordination between leading economies effectively on hold during the American presidential transition ...

European Stocks Climb; BP, British Airways, Munich Re Advance - Bloomberg
Nov. 7 (Bloomberg) -- European stocks advanced, trimming this week's decline, as speculation the Federal Reserve may lower interest rates offset concern about rising U.S. unemployment, while higher oil buoyed energy producers. BP Plc, Europe's second ...

Taylor Wimpey sees no quick recovery in housing market despite rate ... - Daily Telegraph
In a downbeat trading update, the group revealed that the decline in the UK property market has worsened and it is now seeing 165 new homes reserved each week - 27pc less than the second half of 2007 and the first half of 2008 when the credit crisis ...