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News about Mortgages:
Cary man helped town save $1M - WRAL.comCary man helped town save $1MWRAL.com, NC - Jan 2, 2009Cary stopped investing in the now-bankrupt mortgage giants and pulled its money out. And as a result of more conservative reinvestments, they later sold at ...
Back from the brink - Cary NewsCary NewsBack from the brinkCary News, NC - Jan 6, 2009By Jordan Cooke, Staff Writer When circumstances pushed her Cary townhome to the brink of foreclosure last February, Debra Fought did just what her last ...
Buying a home with nothing down is possible - Belleville News DemocratBuying a home with nothing down is possibleBelleville News Democrat, USA - Jan 2, 2009Stevens, a managing partner at Stevens & Hand in Cary, NC, said buyers have to ask themselves: Is the payment going to be too much? ...
Jean Chatzky -- Small firms, homeowners ask questions - Kankakee Daily JournalJean Chatzky -- Small firms, homeowners ask questionsKankakee Daily Journal, IL - Dec 31, 2008Samantha from Cary, NC, asks: I am a small business owner. We are more than struggling. People are afraid to spend money. How do you know when to say when? ...
No. 1 Bottom falls out of Triangle housing sector - Triangle Business JournalNo. 1 Bottom falls out of Triangle housing sectorTriangle Business Journal, NC - Dec 25, 2008The number of outstanding foreclosures in the Raleigh-Cary metro area for October was 1281, or 0.5 percent of all outstanding mortgage loans in the area, ...
Downtown Raleigh condo sales are slow, steady - Triangle Business JournalDowntown Raleigh condo sales are slow, steadyTriangle Business Journal, NC - Jan 6, 2009Danny Williams, general manager of the Autopark Honda dealership in Cary, had planned to move into one of the posh condo units planned atop the planned ...
Wintrust Mortgage Corporation Acquires Mortgage Banking Assets of ... - PR Newswire (press release)Wintrust Mortgage Corporation Acquires Mortgage Banking Assets of ...PR Newswire (press release), NY - Dec 23, 2008The banks also operate facilities in Illinois in Algonquin , Bloomingdale , Buffalo Grove , Cary , Chicago , Clarendon Hills , Darien , Deerfield , Downers ...
Cary could end fiscal year with surplus - Cary NewsCary could end fiscal year with surplusCary News, NC - Dec 23, 2008Thanks in part to the town’s finance staff, Cary earned the additional $1.1 million by selling its investments with mortgage giants Freddie Mac and Fannie ...
2 nonprofit groups turned no one away - Winston-Salem Journal2 nonprofit groups turned no one awayWinston-Salem Journal, NC - Dec 31, 2008But two nonprofit groups in Cary and Apex, which together serve a majority of the western Wake area, said they did not have to turn away a single person. ...
Cary Clack: Answer $1 billion questions - San Antonio ExpressCary Clack: Answer $1 billion questionsSan Antonio Express, TX - Dec 22, 2008Today it’s called the subprime mortgage crisis or bailout, and the money we’re talking about isn’t 50 ? G’s but about three-quarters of a trillion dollars. ...
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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