 |
Hudson River Regions Hudson Valley and the Catskills
|
|
 |
| Home | Counties | Free Listing | Fun Zones | Towns | Golf | Site Map | Calendar | Email | Advertising |
Accounting, Bookkeeping, CPA's
- Cre8tive Office Solutions
- Teresa Carlucci
- PO Box 535
- Stone Ridge, NY 12484
- P: 845-687-4433
- F:845-687-4445
- C:845-706-2681
- Virtual Administrative Assistance and Bookkeeping
- Schain and Company, C.P.
- 70 N. Putt Corners Road
- New Paltz, NY
- 845-255-5888
- Valley Business Services
- Holly Downie
- 686 Watson Hollow Rd
- West Shokan, NY 12494
- 845-657-2805
- Fax: 845-657-9666
Terms to know
- Accrued Interest
- Interest that accumulates on the loan and is payable by the borrower or federal government. Each day, interest is calculated on the unpaid principal balance and becomes accured interest.
- Amortization
- Gradually reducing the loan amount to zero through regularly scheduled payments of principal and interest spread over a predetermined length of time.
- Borrower
- An indivdual who obtains money from a lending institution by the extension of credit for a period of time. The borrower signs a promissory note as evidence of the debt.
- Cancellation
- Unlike other consumer loans , the balance of an education may be canceled upon death or disability of the borrower.
- Capitalized Interest
- Interest that is added to the principal amount. When this is done, the principal amount and monthly payments are increased during the repayment period, since you are paying interest on interest.
- Co-signer
- When a borrower has no collateral or credit history, a creditworthy individual may be required to sign the promissory note for a loan. This individual, called a co-signer, guarantees that the loan will be repaid if the borrower defaults.
- Credit Reporting Agency
- An agency that collects and distributes credit and personal information to creditors. A credit report includes payment history on loans and other credit accounts, such as credit cards, balances of accounts, and length and place of employment.
- Creditworthiness
- Having a good credit history, or no credit history.
- Default
- The failure of a borrower to make an installment payment when due, or to meet other terms of the promissory note.
- Deferment
- An approved postponement of payment for a specified period.
- Deferred Interest
- Interest payments that are potponed for the borrower and paid at a later date.
- Delinquent
- The failure of a borrower to make a loan payment when due.
- Disclosure
- Statement of actual cost to the borrower for a loan, the interest rate and any additional finance charges.
- Fixed Interest
- Rate of interest that does not change during the life of the loan.
- Forbearance
- A special arrangement between the borrower and the lender, at the lender's option, that allows the borrower to temporarily stop making payments, obtain an extension for making the payments, or make smaller payments than orginally scheduled.
- Garnishment
- Withholding a specific sum from wages to satisfy a debt.
- Grace Period
- The period before the borrower begins repaying the loan.
- Lender
- The bank, savings and loan, credit union, or other approved entity from which you obtained your loan.
- Maturity Date
- The date upon which a promissory note becomes due and payable.
- Origination Fee
- A fee, deducted from principal, that is sent to the federal goverment as insurance for a loan default.
- Principal / Principal Balance
- Principal is the face value of the loan or the amount borrowed upon which interest is charged. The principal balance is the amount remaining after subtracting the payments made against the orgininal principal.
- Promissory Note
- A written promise to pay a lender a fixed amount of of money over a specified period of time.
- Simple Interest
- Interest calculated on the orginal principal only.
- Variable Interest
- Rate of interest that is tied to a certain index, depending on the loan, and changes periodically as the index changes.
|
|
 |
|
Advertising
on this site |
|
Free
business listing |
|
Priced
business listing |
|
|
|
|
Join
our e-newsletter
Privacy
Statement.
We do not collect any information from or about our visitors. Period.
Custom Search
Disclaimer / Copyright Information / Privacy Policy
Copyright ©
1995-2008 Bear Systems 
PO Box 1427 Woodstock, NY 12498
(845) 853-9962
All rights reserved