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184-643: Sigirino is first mentioned in 1335 as Sezelino . In the Middle Ages , Sigirino belonged to the territory of the Carvina valley community. Carvina included all the villages in the upper Vedeggio valley and its secular and religious capital was Bironico. In a land register of 1296, Como Cathedral possessed lands, pastures, forests, farmland and land with houses in Sigirino. It is likely that at that time Sigirino possessed some type of fortifications. The Church of St. Andrew

368-427: A Fachhochschule ). In Sigirino there were a total of 96 students (as of 2009). The Ticino education system provides up to three years of non-mandatory kindergarten and in Sigirino there were 6 children in kindergarten. The primary school program lasts for five years and includes both a standard school and a special school. In the village, 31 students attended the standard primary schools and 3 students attended

552-455: A floating rate or variable rate mortgage ). In some countries, such as the United States, fixed rate mortgages are the norm, but floating rate mortgages are relatively common. Combinations of fixed and floating rate mortgages are also common, whereby a mortgage loan will have a fixed rate for some period, for example the first five years, and vary after the end of that period. The charge to

736-436: A lien on the property being mortgaged. The loan is " secured " on the borrower's property through a process known as mortgage origination . This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property (" foreclosure " or " repossession ") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage

920-455: A personal equity plan (PEP) mortgage, Individual Savings Account (ISA) mortgage or pension mortgage . Historically, investment-backed mortgages offered various tax advantages over repayment mortgages, although this is no longer the case in the UK. Investment-backed mortgages are seen as higher risk as they are dependent on the investment making sufficient return to clear the debt. Until recently it

1104-470: A population growth rate of 13.3%. The age distribution, as of 2009, in Sigirino is; 50 children or 8.4% of the population are between 0 and 9 years old and 61 teenagers or 10.2% are between 10 and 19. Of the adult population, 76 people or 12.8% of the population are between 20 and 29 years old. 114 people or 19.1% are between 30 and 39, 126 people or 21.1% are between 40 and 49, and 92 people or 15.4% are between 50 and 59. The senior population distribution

1288-489: A standard form contract Multistate Fixed-Rate Note 3200 and also separate security instrument mortgage forms which vary by state. In Canada, the Canada Mortgage and Housing Corporation (CMHC) is the country's national housing agency, providing mortgage loan insurance, mortgage-backed securities, housing policy and programs, and housing research to Canadians. It was created by the federal government in 1946 to address

1472-522: A certain term, but the outstanding principal balance is due at some point short of that term, and at the end of the term a balloon payment is due. When interest rates are high relative to the rate on an existing seller's loan, the buyer can consider assuming the seller's mortgage . A wraparound mortgage is a form of seller financing that can make it easier for a seller to sell a property. A biweekly mortgage has payments made every two weeks instead of monthly. Budget loans include taxes and insurance in

1656-647: A credit line. In the U.S. a partial amortization or balloon loan is one where the amount of monthly payments due are calculated (amortized) over a certain term, but the outstanding balance on the principal is due at some point short of that term. In the UK, a partial repayment mortgage is quite common, especially where the original mortgage was investment-backed. Graduated payment mortgage loans have increasing costs over time and are geared to young borrowers who expect wage increases over time. Balloon payment mortgages have only partial amortization, meaning that amount of monthly payments due are calculated (amortized) over

1840-421: A few families and still others lived on isolated farms spread over the countryside. There were also areas where the pattern was a mix of two or more of those systems. Unlike in the late Roman period, there was no sharp break between the legal status of the free peasant and the aristocrat, and it was possible for a free peasant's family to rise into the aristocracy over several generations through military service to

2024-407: A financial institution, such as a bank , credit union or building society , depending on the country concerned, and the loan arrangements can be made either directly or indirectly through intermediaries. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, and other characteristics can vary considerably. The lender's rights over

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2208-505: A higher risk tolerance and do so knowing that they face more challenge in reselling the loan. Many countries have similar concepts or agencies that define what are "standard" mortgages. Regulated lenders (such as banks) may be subject to limits or higher-risk weightings for non-standard mortgages. For example, banks and mortgage brokerages in Canada face restrictions on lending more than 80% of the property value; beyond this level, mortgage insurance

2392-452: A key concept as it often defines whether or not the mortgage can be easily sold or securitized, or, if non-standard, may affect the price at which it may be sold. In the United States, a conforming mortgage is one which meets the established rules and procedures of the two major government-sponsored entities in the housing finance market (including some legal requirements). In contrast, lenders who decide to make nonconforming loans are exercising

2576-586: A king to rule over them all. By the late sixth century, this arrangement had been replaced by a permanent monarchy, the Kingdom of the Lombards . The invasions brought new ethnic groups to Europe, although some regions received a larger influx of new peoples than others. In Gaul for instance, the invaders settled much more extensively in the north-east than in the south-west. Slavs settled in Central and Eastern Europe and

2760-445: A loan. Builders may take out blanket loans which cover several properties at once. Bridge loans may be used as temporary financing pending a longer-term loan. Hard money loans provide financing in exchange for the mortgaging of real estate collateral. In most jurisdictions, a lender may foreclose the mortgaged property if certain conditions occur – principally, non-payment of the mortgage loan. Subject to local legal requirements,

2944-475: A mortgage occurs when an owner (usually of a fee simple / freehold interest in real property , but frequently leasehold in England and Wales) pledges his or her interest (right to the property) as security or collateral for a loan. Therefore, a mortgage is an encumbrance (limitation) on the right to the property just as an easement would be, but because most mortgages occur as a condition for new loan money,

3128-399: A notion of standard or conforming mortgages that define a perceived acceptable level of risk, which may be formal or informal, and may be reinforced by laws, government intervention, or market practice. For example, a standard mortgage may be considered to be one with no more than 70–80% LTV and no more than one-third of gross income going to mortgage debt. A standard or conforming mortgage is

3312-444: A number of more or less standard measures of creditworthiness may be used. Common measures include payment to income (mortgage payments as a percentage of gross or net income); debt to income (all debt payments, including mortgage payments, as a percentage of income); and various net worth measures. In many countries, credit scores are used in lieu of or to supplement these measures. There will also be requirements for documentation of

3496-411: A part-time student). There were 8 vocational students who were attending school full-time and 15 who attend part-time. The professional program lasts three years and prepares a student for a job in engineering, nursing, computer science, business, tourism and similar fields. There were 3 students in the professional program. As of 2000, there were 36 students from Sigirino who attended schools outside

3680-567: A powerful lord. Roman city life and culture changed greatly in the early Middle Ages. Although Italian cities remained inhabited, they contracted significantly in size. Rome, for instance, shrank from a population of hundreds of thousands to around 30,000 by the end of the 6th century. Roman temples were converted into Christian churches and city walls remained in use. In Northern Europe, cities also shrank, while civic monuments and other public buildings were raided for building materials. The establishment of new kingdoms often meant some growth for

3864-462: A practical skill rather than a sign of elite status. In the 4th century, Jerome (d. 420) dreamed that God rebuked him for spending more time reading Cicero than the Bible . By the 6th century, Gregory of Tours (d. 594) had a similar dream, but instead of being chastised for reading Cicero, he was chastised for learning shorthand . By the late 6th century, the principal means of religious instruction in

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4048-582: A private car. From the 2000 census, 266 or 68.2% were Roman Catholic , while 33 or 8.5% belonged to the Swiss Reformed Church . There are 32 individuals (or about 8.21% of the population) who belong to another church (not listed on the census), and 59 individuals (or about 15.13% of the population) did not answer the question. In Sigirino about 62.4% of the population (between age 25 and 64) have completed either non-mandatory upper secondary education or additional higher education (either University or

4232-467: A small foothold in southern Spain. Justinian's reconquests have been criticised by historians for overextending his realm and setting the stage for the early Muslim conquests , but many of the difficulties faced by Justinian's successors were due not just to over-taxation to pay for his wars but to the essentially civilian nature of the empire, which made raising troops difficult. In the Eastern Empire

4416-498: Is 40 people or 6.7% of the population are between 60 and 69 years old, 19 people or 3.2% are between 70 and 79, there are 18 people or 3.0% who are over 80. As of 2000 the average number of residents per living room was 0.57 which is about equal to the cantonal average of 0.6 per room. In this case, a room is defined as space of a housing unit of at least 4 m (43 sq ft) as normal bedrooms, dining rooms, living rooms, kitchens and habitable cellars and attics. About 54.8% of

4600-405: Is common in the UK, especially when associated with a regular investment plan. With this arrangement regular contributions are made to a separate investment plan designed to build up a lump sum to repay the mortgage at maturity. This type of arrangement is called an investment-backed mortgage or is often related to the type of plan used: endowment mortgage if an endowment policy is used, similarly

4784-654: Is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan)". Mortgage borrowers can be individuals mortgaging their home or they can be businesses mortgaging commercial property (for example, their own business premises, residential property let to tenants, or an investment portfolio ). The lender will typically be

4968-413: Is generally required. In some countries with currencies that tend to depreciate, foreign currency mortgages are common, enabling lenders to lend in a stable foreign currency, whilst the borrower takes on the currency risk that the currency will depreciate and they will therefore need to convert higher amounts of the domestic currency to repay the loan. In addition to the two standard means of setting

5152-649: Is no universally agreed upon end date. Depending on the context, events such as the conquest of Constantinople by the Turks in 1453, Christopher Columbus 's first voyage to the Americas in 1492, or the Protestant Reformation in 1517 are sometimes used. English historians often use the Battle of Bosworth Field in 1485 to mark the end of the period. For Spain, dates commonly used are the death of King Ferdinand II in 1516,

5336-532: Is the primary mechanism used in many countries to finance private ownership of residential and commercial property (see commercial mortgages ). Although the terminology and precise forms will differ from country to country, the basic components tend to be similar: Many other specific characteristics are common to many markets, but the above are the essential features. Governments usually regulate many aspects of mortgage lending, either directly (through legal requirements, for example) or indirectly (through regulation of

5520-432: Is to make regular payments toward the principal and interest over a set term, commonly referred to as (self) amortization in the U.S. and as a repayment mortgage in the UK. A mortgage is a form of annuity (from the perspective of the lender), and the calculation of the periodic payments is based on the time value of money formulas. Certain details may be specific to different locations: interest may be calculated on

5704-532: Is too rocky for vegetation. The village is located in the Lugano district, on the right side of the mid-Vedeggio valley near the entrance to the Cusella side valley. The blazon of the municipal coat of arms is Gules a saltire argent and in chief tower of the same. The St. Andrews cross refers to the patron saint of the village church. Sigirino has a population (As of December 2009) of 596. As of 2008, 30.4% of

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5888-525: Is used for agricultural purposes, while 6.89 km (2.66 sq mi) or 79.1% is forested. Of the rest of the land, 0.57 km (0.22 sq mi) or 6.5% is settled (buildings or roads), 0.1 km (25 acres) or 1.1% is either rivers or lakes and 0.76 km (0.29 sq mi) or 8.7% is unproductive land. Of the built up area, housing and buildings made up 1.1% and transportation infrastructure made up 3.4%. Power and water infrastructure as well as other special developed areas made up 1.4% of

6072-527: The fyrd , which were led by the local elites. In military technology, one of the main changes was the return of the crossbow , which had been known in Roman times and reappeared as a military weapon during the last part of the Early Middle Ages. Another change was the introduction of the stirrup, which increased the effectiveness of cavalry as shock troops. A technological advance that had implications beyond

6256-402: The 2010 foreclosure crisis . In the United States, the mortgage loan involves two separate documents: the mortgage note (a promissory note ) and the security interest evidenced by the "mortgage" document; generally, the two are assigned together, but if they are split traditionally the holder of the note and not the mortgage has the right to foreclose. For example, Fannie Mae promulgates

6440-690: The Alans , Vandals , and Suevi crossed into Gaul ; over the next three years they spread across Gaul and in 409 crossed the Pyrenees Mountains into modern-day Spain. The Migration Period began, when various peoples, initially largely Germanic peoples , moved across Europe. The Franks , Alemanni , and the Burgundians all ended up in northern Gaul while the Angles , Saxons , and Jutes settled in Britain , and

6624-521: The Benedictine Rule for Western monasticism during the 6th century, detailing the administrative and spiritual responsibilities of a community of monks led by an abbot . Monks and monasteries had a deep effect on the religious and political life of the Early Middle Ages, in various cases acting as land trusts for powerful families, centres of propaganda and royal support in newly conquered regions, and bases for missions and proselytisation. They were

6808-575: The Carolingian Empire during the later 8th and early 9th centuries. It covered much of Western Europe but later succumbed to the pressures of internal civil wars combined with external invasions: Vikings from the north, Magyars from the east, and Saracens from the south. During the High Middle Ages, which began after 1000, the population of Europe increased greatly as technological and agricultural innovations allowed trade to flourish and

6992-520: The Desert Fathers of Egypt and Syria . Most European monasteries were of the type that focuses on community experience of the spiritual life, called cenobitism , which was pioneered by Pachomius (d. 348) in the 4th century. Monastic ideals spread from Egypt to Western Europe in the 5th and 6th centuries through hagiographical literature such as the Life of Anthony . Benedict of Nursia (d. 547) wrote

7176-649: The Federal National Mortgage Association (known as Fannie Mae) and the Federal Home Loan Mortgage Corporation (known as Freddie Mac). The US mortgage sector has been the center of major financial crises over the last century. Unsound lending practices resulted in the National Mortgage Crisis of the 1930s , the savings and loan crisis of the 1980s and 1990s and the subprime mortgage crisis of 2007 which led to

7360-568: The Gregorian chant in liturgical music for the churches. An important activity for scholars during this period was the copying, correcting, and dissemination of basic works on religious and secular topics, with the aim of encouraging learning. New works on religious topics and schoolbooks were also produced. Grammarians of the period modified the Latin language, changing it from the Classical Latin of

7544-698: The Macedonian dynasty . Commerce revived and the emperors oversaw the extension of a uniform administration to all the provinces. The military was reorganised, which allowed the emperors John I (r. 969–976) and Basil II (r. 976–1025) to expand the frontiers of the empire on all fronts. The imperial court was the centre of a revival of classical learning, a process known as the Macedonian Renaissance . Writers such as John Geometres ( fl. early 10th century) composed new hymns, poems, and other works. Missionary efforts by both Eastern and Western clergy resulted in

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7728-477: The Medieval Warm Period climate change allowed crop yields to increase. Manorialism , the organisation of peasants into villages that owed rent and labour services to the nobles , and feudalism , the political structure whereby knights and lower-status nobles owed military service to their overlords in return for the right to rent from lands and manors , were two of the ways society was organized in

7912-414: The cost of a mortgage loan (fixed at a set interest rate for the term, or variable relative to market interest rates), there are variations in how that cost is paid, and how the loan itself is repaid. Repayment depends on locality, tax laws and prevailing culture. There are also various mortgage repayment structures to suit different types of borrower. The most common way to repay a secured mortgage loan

8096-429: The following formula : A = P ⋅ r ( 1 + r ) n ( 1 + r ) n − 1 {\displaystyle A=P\cdot {\frac {r(1+r)^{n}}{(1+r)^{n}-1}}} where: The main alternative to a principal and interest mortgage is an interest-only mortgage , where the principal is not repaid throughout the term. This type of mortgage

8280-462: The 17th-century German historian Christoph Cellarius divided history into three periods: ancient, medieval, and modern. The most commonly given starting point for the Middle Ages is around 500, with the date of 476 first used by Bruni. Later starting dates are sometimes used in the outer parts of Europe. For Europe as a whole, 1500 is often considered to be the end of the Middle Ages, but there

8464-474: The 5th and the 7th centuries, going first to England and Scotland and then on to the continent. Under such monks as Columba (d. 597) and Columbanus (d. 615), they founded monasteries, taught in Latin and Greek, and authored secular and religious works. The Early Middle Ages witnessed the rise of monasticism in the West. The shape of European monasticism was determined by traditions and ideas that originated with

8648-702: The 5th century. The Eastern Empire was marked by closer relations between the political state and Christian Church, with doctrinal matters assuming an importance in Eastern politics that they did not have in Western Europe. Legal developments included the codification of Roman law ; the first effort—the Codex Theodosianus —was completed in 438. Under Emperor Justinian (r. 527–565), another compilation took place—the Corpus Juris Civilis . Justinian also oversaw

8832-665: The 6th and 7th centuries, all of them ruled by the Merovingian dynasty, who were descended from Clovis. The 7th century was a tumultuous period of wars between Austrasia and Neustria. Such warfare was exploited by Pippin (d. 640), the Mayor of the Palace for Austrasia who became the power behind the Austrasian throne. Later members of his family inherited the office, acting as advisers and regents. One of his descendants, Charles Martel (d. 741), won

9016-636: The Arabs. The migrations and invasions of the 4th and 5th centuries disrupted trade networks around the Mediterranean. African goods stopped being imported into Europe, first disappearing from the interior and by the 7th century found only in a few cities such as Rome or Naples . By the end of the 7th century, under the impact of the Muslim conquests , African products were no longer found in Western Europe. The replacement of goods from long-range trade with local products

9200-526: The Bald received the western Frankish lands, comprising most of modern-day France. Charlemagne's grandsons and great-grandsons divided their kingdoms between their descendants, eventually causing all internal cohesion to be lost. In 987 the Carolingian dynasty was replaced in the western lands, with the crowning of Hugh Capet (r. 987–996) as king. In the eastern lands the dynasty had died out earlier, in 911, with

9384-598: The Balkan Peninsula. The settlement of peoples was accompanied by changes in languages. Latin , the literary language of the Western Roman Empire, was gradually replaced by vernacular languages which evolved from Latin, but were distinct from it, collectively known as Romance languages . These changes from Latin to the new languages took many centuries. Greek remained the language of the Byzantine Empire, but

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9568-628: The Battle of Poitiers in 732, halting the advance of Muslim armies across the Pyrenees. Great Britain was divided into small states dominated by the kingdoms of Northumbria , Mercia , Wessex , and East Anglia which descended from the Anglo-Saxon invaders. Smaller kingdoms in present-day Wales and Scotland were still under the control of the native Britons and Picts . Ireland was divided into even smaller political units, usually known as tribal kingdoms, under

9752-566: The Byzantine Empire, as the assumption of the imperial title by the Carolingians asserted their equivalence to the Byzantine state. There were several differences between the newly established Carolingian Empire and both the older Western Roman Empire and the concurrent Byzantine Empire. The Frankish lands were rural in character, with only a few small cities. Most of the people were peasants settled on small farms. Little trade existed and much of that

9936-518: The Byzantine Empire, which he sealed with the marriage of his son Otto II (r. 967–983) to Theophanu (d. 991), daughter of an earlier Byzantine Emperor Romanos II (r. 959–963). By the late 10th century Italy had been drawn into the Ottonian sphere after a period of instability; Otto III (r. 996–1002) spent much of his later reign in the kingdom. The western Frankish kingdom was more fragmented, and although kings remained nominally in charge, much of

10120-629: The Christian period as nova (or "new"). Petrarch regarded the post-Roman centuries as " dark " compared to the "light" of classical antiquity . Leonardo Bruni was the first historian to use tripartite periodisation in his History of the Florentine People (1442), with a middle period "between the fall of the Roman Empire and the revival of city life sometime in late eleventh and twelfth centuries". Tripartite periodisation became standard after

10304-642: The Church had widened to the extent that the cultural and religious differences were greater than the similarities. The formal break, known as the East–West Schism , came in 1054, when the papacy and the patriarchy of Constantinople clashed over papal supremacy and excommunicated each other, which led to the division of Christianity into two Churches—the Western branch became the Roman Catholic Church and

10488-499: The Church had become music and art rather than the book. Most intellectual efforts went towards imitating classical scholarship, but some original works were created, along with now-lost oral compositions. The writings of Sidonius Apollinaris (d. 489), Cassiodorus (d. c.  585 ), and Boethius (d. c. 525) were typical of the age. Changes also took place among laymen, as aristocratic culture focused on great feasts held in halls rather than on literary pursuits. Clothing for

10672-676: The Dnieper River in modern Ukraine to the Adriatic Sea. By 1018, the last Bulgarian nobles had surrendered to the Byzantine Empire. Few large stone buildings were constructed between the Constantinian basilicas of the 4th century and the 8th century, although many smaller ones were built during the 6th and 7th centuries. By the beginning of the 8th century, the Carolingian Empire revived the basilica form of architecture. One feature of

10856-581: The Early Middle Ages are mostly illuminated manuscripts and carved ivories , originally made for metalwork that has since been melted down. Objects in precious metals were the most prestigious form of art, but almost all are lost except for a few crosses such as the Cross of Lothair , several reliquaries , and finds such as the Anglo-Saxon burial at Sutton Hoo and the hoards of Gourdon from Merovingian France, Guarrazar from Visigothic Spain and Nagyszentmiklós near Byzantine territory. There are survivals from

11040-584: The Eastern Mediterranean and remained a major power. The empire's law code, the Corpus Juris Civilis or "Code of Justinian", was rediscovered in Northern Italy in the 11th century. In the West, most kingdoms incorporated the few extant Roman institutions. Monasteries were founded as campaigns to Christianise pagan Europe continued. The Franks , under the Carolingian dynasty , briefly established

11224-520: The Eastern branch the Eastern Orthodox Church . The ecclesiastical structure of the Roman Empire survived the movements and invasions in the west mostly intact, but the papacy was little regarded, and few of the Western bishops looked to the bishop of Rome for religious or political leadership. Many of the popes prior to 750 were more concerned with Byzantine affairs and Eastern theological controversies. The register, or archived copies of

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11408-528: The Eastern emperors to pay tribute. They remained a strong power until 796. An additional problem to face the empire came as a result of the involvement of Emperor Maurice (r. 582–602) in Persian politics when he intervened in a succession dispute . This led to a period of peace, but when Maurice was overthrown, the Persians invaded and during the reign of Emperor Heraclius (r. 610–641) controlled large chunks of

11592-487: The European population remained rural peasants. Many were no longer settled in isolated farms but had gathered into small communities, usually known as manors or villages. These peasants were often subject to noble overlords and owed them rents and other services, in a system known as manorialism . There remained a few free peasants throughout this period and beyond, with more of them in the regions of Southern Europe than in

11776-705: The Frankish King Charles the Simple (r. 898–922) to settle in what became Normandy . The eastern parts of the Frankish kingdoms, especially Germany and Italy, were under continual Magyar assault until the invader's defeat at the Battle of Lechfeld in 955. The breakup of the Abbasid dynasty meant that the Islamic world fragmented into smaller political states, some of which began expanding into Italy and Sicily, as well as over

11960-568: The Franks and Celtic Britons set up small polities. Francia was centred in northern Gaul, and the first king of whom much is known is Childeric I (d. 481). His grave was discovered in 1653 and is remarkable for its grave goods , which included weapons and a large quantity of gold. Under Childeric's son Clovis I (r. 509–511), the founder of the Merovingian dynasty , the Frankish kingdom expanded and converted to Christianity. The Britons, related to

12144-665: The German tried to annex all of East Francia. Louis the Pious died in 840, with the empire still in chaos. A three-year civil war followed his death. By the Treaty of Verdun (843), a kingdom between the Rhine and Rhone rivers was created for Lothair to go with his lands in Italy, and his imperial title was recognised. Louis the German was in control of Bavaria and the eastern lands in modern-day Germany. Charles

12328-677: The Great (d. 526) and set up a kingdom marked by its co-operation between the Italians and the Ostrogoths, at least until the last years of Theodoric's reign. The Burgundians settled in Gaul, and after an earlier realm was destroyed by the Huns in 436, formed a new kingdom in the 440s. Between today's Geneva and Lyon , it grew to become the realm of Burgundy in the late 5th and early 6th centuries. Elsewhere in Gaul,

12512-425: The HECM (Home Equity Conversion Mortgage). Unlike standard mortgages (where the entire loan amount is typically disbursed at the time of loan closing) the HECM program allows the homeowner to receive funds in a variety of ways: as a one time lump sum payment; as a monthly tenure payment which continues until the borrower dies or moves out of the house permanently; as a monthly payment over a defined period of time; or as

12696-438: The High Middle Ages. This period also saw the collapse of the unified Christian church, with the East-West Schism of 1054 . The Crusades , first preached in 1095, were military attempts by Western European Christians to regain control of the Holy Land from Muslims . Kings became the heads of centralised nation-states , reducing crime and violence but making the ideal of a unified Christendom more distant. Intellectual life

12880-403: The Italian peninsula was conquered by the Ostrogoths . The Eastern Roman Empire, often referred to as the Byzantine Empire after the fall of its western counterpart, had little ability to assert control over the lost western territories. The Byzantine emperors maintained a claim over the territory, but while none of the new kings in the west dared to elevate himself to the position of emperor of

13064-619: The Late Middle Ages and beginning the early modern period . The Middle Ages is one of the three major periods in the most enduring scheme for analysing European history : classical civilisation or Antiquity , the Middle Ages and the Modern Period . The "Middle Ages" first appears in Latin in 1469 as media tempestas or "middle season". In early usage, there were many variants, including medium aevum , or "middle age", first recorded in 1604, and media saecula , or "middle centuries", first recorded in 1625. The adjective "medieval" (or sometimes "mediaeval" or "mediæval"), meaning pertaining to

13248-547: The Lombards, which freed the papacy from the fear of Lombard conquest and marked the beginnings of the Papal States . The coronation of Charlemagne as emperor on Christmas Day 800 is regarded as a turning point in medieval history, marking a return of the Western Roman Empire, since the new emperor ruled over much of the area previously controlled by the Western emperors. It also marks a change in Charlemagne's relationship with

13432-405: The Mediterranean, pottery remained prevalent and appears to have been traded over medium-range networks, not just produced locally. The various Germanic states in the west all had coinages that imitated existing Roman and Byzantine forms. Gold continued to be minted until the end of the 7th century in 693-94 when it was replaced by silver in the Merovingian kingdom. The basic Frankish silver coin

13616-461: The Middle Ages, derives from medium aevum . Medieval writers divided history into periods such as the " Six Ages " or the " Four Empires ", and considered their time to be the last before the end of the world. When referring to their own times, they spoke of them as being "modern". In the 1330s, the Italian humanist and poet Petrarch referred to pre-Christian times as antiqua (or "ancient") and to

13800-760: The Middle East than Europe, losing control of sections of the Muslim lands. Umayyad descendants took over the Iberian Peninsula, the Aghlabids controlled North Africa, and the Tulunids became rulers of Egypt. By the middle of the 8th century, new trading patterns were emerging in the Mediterranean; trade between the Franks and the Arabs replaced the old Roman economy . Franks traded timber, furs, swords and slaves in return for silks and other fabrics, spices, and precious metals from

13984-620: The PLRT (with 42 or 22.2%), the PPD (with 33 or 17.5%) and the SSI (with 22 or 11.6%). As of  2007, Sigirino had an unemployment rate of 3.31%. As of 2005, there were people employed in the primary economic sector and about businesses involved in this sector. 57 people were employed in the secondary sector and there were 5 businesses in this sector. 42 people were employed in the tertiary sector , with 6 businesses in this sector. There were 197 residents of

14168-652: The Pyrenees into the southern parts of the Frankish kingdoms. Efforts by local kings to fight the invaders led to the formation of new political entities. In Anglo-Saxon England , King Alfred the Great (r. 871–899) came to an agreement with the Viking invaders in the late 9th century, resulting in Danish settlements in Northumbria, Mercia, and parts of East Anglia. By the middle of the 10th century, Alfred's successors had conquered Northumbria, and restored English control over most of

14352-607: The Rhine and eastwards, leaving Charles West Francia with the empire to the west of the Rhineland and the Alps. Louis the German (d. 876), the middle child, who had been rebellious to the last, was allowed to keep Bavaria under the suzerainty of his elder brother. The division was disputed. Pepin II of Aquitaine (d. after 864), the emperor's grandson, rebelled in a contest for Aquitaine , while Louis

14536-515: The Roman Empire into a more flexible form to fit the needs of the Church and government. By the reign of Charlemagne, the language had so diverged from the classical Latin that it was later called Medieval Latin . Charlemagne planned to continue the Frankish tradition of dividing his kingdom between all his heirs, but was unable to do so as only one son, Louis the Pious (r. 814–840), was still alive by 813. Just before Charlemagne died in 814, he crowned Louis as his successor. Louis's reign of 26 years

14720-492: The Romans and the invaders are often similar, and tribal items were often modelled on Roman objects. Much of the scholarly and written culture of the new kingdoms was also based on Roman intellectual traditions. An important difference was the gradual loss of tax revenue by the new polities. Many of the new political entities no longer supported their armies through taxes, instead relying on granting them land or rents. This meant there

14904-405: The UK and U.S., 25 to 30 years is the usual maximum term (although shorter periods, such as 15-year mortgage loans, are common). Mortgage payments, which are typically made monthly, contain a repayment of the principal and an interest element. The amount going toward the principal in each payment varies throughout the term of the mortgage. In the early years the repayments are mostly interest. Towards

15088-465: The UN Economic Commission for Europe compared German, US, and Danish mortgage systems. The German Bausparkassen (savings and loans associations) reported nominal interest rates of approximately 6 per cent per annum in the last 40 years (as of 2004). Bausparkassen are not identical with banks that give mortgages. In addition, they charge administration and service fees (about 1.5 per cent of

15272-621: The US, foreign nationals due to their unique situation face Foreign National mortgage conditions. Flexible mortgages allow for more freedom by the borrower to skip payments or prepay. Offset mortgages allow deposits to be counted against the mortgage loan. In the UK there is also the endowment mortgage where the borrowers pay interest while the principal is paid with a life insurance policy. Commercial mortgages typically have different interest rates, risks, and contracts than personal loans. Participation mortgages allow multiple investors to share in

15456-571: The Vandals went on to cross the strait of Gibraltar after which they conquered the province of Africa . In the 430s the Huns began invading the empire; their king Attila (r. 434–453) led invasions into the Balkans in 442 and 447, Gaul in 451, and Italy in 452. The Hunnic threat remained until Attila's death in 453, when the Hunnic confederation he led fell apart. These invasions by the tribes completely changed

15640-455: The West were not uniform; some areas had greatly fragmented landholding patterns, but in other areas large contiguous blocks of land were the norm. These differences allowed for a wide variety of peasant societies, some dominated by aristocratic landholders and others having a great deal of autonomy. Land settlement also varied greatly. Some peasants lived in large settlements that numbered as many as 700 inhabitants. Others lived in small groups of

15824-611: The Western Roman Empire. In the 7th century, North Africa and the Middle East—once part of the Byzantine Empire —came under the rule of the Umayyad Caliphate , an Islamic empire, after conquest by Muhammad's successors . Although there were substantial changes in society and political structures, the break with classical antiquity was not complete. The still-sizeable Byzantine Empire, Rome's direct continuation, survived in

16008-556: The acceptance of figurative monumental sculpture in Christian art , and by the end of the period near life-sized figures such as the Gero Cross were common in important churches. During the later Roman Empire, the principal military developments were attempts to create an effective cavalry force as well as the continued development of highly specialised types of troops. The creation of heavily armoured cataphract -type soldiers as cavalry

16192-440: The applicant has provided as to income, employment, credit history and the value of the home being purchased via an appraisal. An appraisal may be ordered. The underwriting process may take a few days to a few weeks. Sometimes the underwriting process takes so long that the provided financial statements need to be resubmitted so they are current. It is advisable to maintain the same employment and not to use or open new credit during

16376-417: The area Out of the forested land, 64.4% of the total land area is heavily forested, while 13.1% is covered in small trees and shrubbery and 1.6% is covered with orchards or small clusters of trees. Of the agricultural land, 1.8% is used for growing crops and 1.1% is used for alpine pastures. All the water in the municipality is flowing water. Of the unproductive areas, 7.3% is unproductive vegetation and 1.4%

16560-417: The basilica is the use of a transept , or the "arms" of a cross-shaped building that are perpendicular to the long nave . Other new features of religious architecture include the crossing tower and a monumental entrance to the church , usually at the west end of the building. Carolingian art was produced for a small group of figures around the court, and the monasteries and churches they supported. It

16744-422: The basis of a 360-day year, for example; interest may be compounded daily, yearly, or semi-annually; prepayment penalties may apply; and other factors. There may be legal restrictions on certain matters, and consumer protection laws may specify or prohibit certain practices. Depending on the size of the loan and the prevailing practice in the country the term may be short (10 years) or long (50 years plus). In

16928-405: The borrower depends upon the credit risk in addition to the interest rate risk. The mortgage origination and underwriting process involves checking credit scores, debt-to-income, downpayments (deposits), assets, and assessing property value. Jumbo mortgages and subprime lending are not supported by government guarantees and face higher interest rates. Other innovations described below can affect

17112-407: The city of Byzantium as the newly renamed eastern capital, Constantinople . Diocletian's reforms strengthened the governmental bureaucracy, reformed taxation, and strengthened the army, which bought the empire time but did not resolve the problems it was facing: excessive taxation, a declining birthrate, and pressures on its frontiers, among others. Civil war between rival emperors became common in

17296-577: The conquest of North Africa sundered maritime connections between those areas. Increasingly, the Byzantine Church differed in language, practices, and liturgy from the Western Church. The Eastern Church used Greek instead of the Western Latin. Theological and political differences emerged, and by the early and middle 8th century issues such as iconoclasm , clerical marriage , and state control of

17480-660: The construction of the Hagia Sophia in Constantinople and the reconquest of North Africa from the Vandals and Italy from the Ostrogoths, under Belisarius (d. 565). The conquest of Italy was not complete, as a deadly outbreak of plague in 542 led to the rest of Justinian's reign concentrating on defensive measures rather than further conquests. At the Emperor's death, the Byzantines had control of most of Italy , North Africa, and

17664-543: The control of kings. There were perhaps as many as 150 local kings in Ireland, of varying importance. The Carolingian dynasty , as the successors to Charles Martel are known, officially took control of the kingdoms of Austrasia and Neustria in a coup of 753 led by Pippin III (r. 752–768). A contemporary chronicle claims that Pippin sought, and gained, authority for this coup from Pope Stephen II (pope 752–757). Pippin's takeover

17848-616: The conversion of the Moravians , Bulgars , Bohemians , Poles , Magyars, and Slavic inhabitants of the Kievan Rus' . These conversions contributed to the founding of political states in the lands of those peoples—the states of Moravia , Bulgaria , Bohemia , Poland , Hungary, and the Kievan Rus'. Bulgaria, which was founded around 680, at its height reached from Budapest to the Black Sea and from

18032-429: The creditworthiness, such as income tax returns, pay stubs, etc. the specifics will vary from location to location. Income tax incentives usually can be applied in forms of tax refunds or tax deduction schemes. The first implies that income tax paid by individual taxpayers will be refunded to the extent of interest on mortgage loans taken to acquire residential property. Income tax deduction implies lowering tax liability to

18216-525: The criteria on new lending on an interest-only basis. The problem for many people has been the fact that no repayment vehicle had been implemented, or the vehicle itself (e.g. endowment/ISA policy) performed poorly and therefore insufficient funds were available to repay balance at the end of the term. Moving forward, the FSA under the Mortgage Market Review (MMR) have stated there must be strict criteria on

18400-675: The death of Louis the Child , and the selection of the unrelated Conrad I (r. 911–918) as king. The breakup of the Carolingian Empire was accompanied by invasions, migrations, and raids by external foes. The Atlantic and northern shores were harassed by the Vikings , who also raided the British Isles and settled there as well as in Iceland. In 911, the Viking chieftain Rollo (d. c. 931) received permission from

18584-401: The death of Queen Isabella I of Castile in 1504, or the conquest of Granada in 1492. Historians from Romance-speaking countries tend to divide the Middle Ages into two parts: an earlier "High" and later "Low" period. English-speaking historians, following their German counterparts, generally subdivide the Middle Ages into three intervals: "Early", "High", and "Late". In the 19th century,

18768-472: The debt each year. These arrangements are variously called reverse mortgages , lifetime mortgages or equity release mortgages (referring to home equity ), depending on the country. The loans are typically not repaid until the borrowers are deceased, hence the age restriction. Through the Federal Housing Administration , the U.S. government insures reverse mortgages via a program called

18952-422: The demand for home ownership is highest, strong domestic markets for mortgages have developed. Mortgages can either be funded through the banking sector (that is, through short-term deposits) or through the capital markets through a process called "securitization", which converts pools of mortgages into fungible bonds that can be sold to investors in small denominations. According to Anglo-American property law ,

19136-561: The disorder, was killed fighting the Goths at the Battle of Adrianople on 9 August 378. In addition to the threat from such tribal confederacies in the north, internal divisions within the empire, especially within the Christian Church, caused problems. In 400, the Visigoths invaded the Western Roman Empire and, although briefly forced back from Italy, in 410 sacked the city of Rome . In 406

19320-442: The early Carolingian period, with a growing dominance of elite heavy cavalry. The use of militia-type levies of the free population declined over the Carolingian period. Although much of the Carolingian armies were mounted, a large proportion during the early period appear to have been mounted infantry , rather than true cavalry. One exception was Anglo-Saxon England, where the armies were still composed of regional levies, known as

19504-523: The elites was richly embellished with jewels and gold. Lords and kings supported entourages of fighters who formed the backbone of the military forces. Family ties within the elites were important, as were the virtues of loyalty, courage, and honour. These ties led to the prevalence of the feud in aristocratic society, examples of which included those related by Gregory of Tours that took place in Merovingian Gaul. Most feuds seem to have ended quickly with

19688-570: The emergence of Islam in Arabia during the lifetime of Muhammad (d. 632). After his death, Islamic forces conquered much of the Eastern Roman Empire and Persia, starting with Syria in 634–635, continuing with Persia between 637 and 642, reaching Egypt in 640–641, North Africa in the later seventh century, and the Iberian Peninsula in 711. By 714, Islamic forces controlled much of

19872-403: The empire than tax-payers. The Emperor Diocletian (r. 284–305) split the empire into separately administered eastern and western halves in 286; the empire was not considered divided by its inhabitants or rulers, as legal and administrative promulgations in one division were considered valid in the other. In 330, after a period of civil war, Constantine the Great (r. 306–337) refounded

20056-560: The empire to Christianity , a gradual process that lasted from the 2nd to the 5th centuries. In 376, the Goths , fleeing from the Huns , received permission from Emperor Valens (r. 364–378) to settle in the Roman province of Thracia in the Balkans . The settlement did not go smoothly, and when Roman officials mishandled the situation, the Goths began to raid and plunder. Valens, attempting to put down

20240-447: The empire, including Egypt, Syria, and Anatolia until Heraclius' successful counterattack. In 628 the empire secured a peace treaty and recovered all of its lost territories. In Western Europe, some of the older Roman elite families died out while others became more involved with ecclesiastical than secular affairs. Values attached to Latin scholarship and education mostly disappeared, and while literacy remained important, it became

20424-479: The empire. Such movements were aided by the refusal of the Western Roman elites to support the army or pay the taxes that would have allowed the military to suppress the migration. The emperors of the 5th century were often controlled by military strongmen such as Stilicho (d. 408), Aetius (d. 454), Aspar (d. 471), Ricimer (d. 472), or Gundobad (d. 516), who were partly or fully of non-Roman background. When

20608-431: The end of the mortgage, payments are mostly for principal. In this way, the payment amount determined at outset is calculated to ensure the loan is repaid at a specified date in the future. This gives borrowers assurance that by maintaining repayment the loan will be cleared at a specified date if the interest rate does not change. Some lenders and 3rd parties offer a bi-weekly mortgage payment program designed to accelerate

20792-454: The entire Middle Ages were often referred to as the " Dark Ages ", but with the adoption of these subdivisions, use of this term was restricted to the Early Middle Ages, at least among historians. The Roman Empire reached its greatest territorial extent during the 2nd century AD; the following two centuries witnessed the slow decline of Roman control over its outlying territories. Economic issues, including inflation, and external pressure on

20976-568: The extent of interest rate paid for the mortgage loan. Some lenders may also require a potential borrower have one or more months of "reserve assets" available. In other words, the borrower may be required to show the availability of enough assets to pay for the housing costs (including mortgage, taxes, etc.) for a period of time in the event of the job loss or other loss of income. Many countries have lower requirements for certain borrowers, or "no-doc" / "low-doc" lending standards that may be acceptable under certain circumstances. Many countries have

21160-425: The foreign population increased by 2. There were 2 Swiss men who emigrated from Switzerland. At the same time, there were 27 non-Swiss men and 10 non-Swiss women who immigrated from another country to Switzerland. The total Swiss population change in 2008 (from all sources, including moves across municipal borders) was an increase of 19 and the non-Swiss population change was an increase of 51 people. This represents

21344-613: The frontiers combined to create the Crisis of the Third Century , with emperors coming to the throne only to be rapidly replaced by new usurpers. Military expenses increased steadily during the 3rd century, mainly in response to the war with the Sasanian Empire , which revived in the middle of the 3rd century. The army doubled in size, and cavalry and smaller units replaced the Roman legion as

21528-406: The funds will be repaid (usually considered a function of the creditworthiness of the borrower); that if they are not repaid, the lender will be able to foreclose on the real estate assets; and the financial, interest rate risk and time delays that may be involved in certain circumstances. During the mortgage loan approval process, a mortgage loan underwriter verifies the financial information that

21712-426: The gender distribution of the population was 56.4% male and 43.6% female. The population was made up of 208 Swiss men (34.9% of the population), and 128 (21.5%) non-Swiss men. There were 214 Swiss women (35.9%), and 46 (7.7%) non-Swiss women. In 2008 there were 4 live births to Swiss citizens and 2 births to non-Swiss citizens. Ignoring immigration and emigration, the population of Swiss citizens increased by 4 while

21896-454: The higher the LTV, the higher the risk that the value of the property (in case of foreclosure) will be insufficient to cover the remaining principal of the loan. Since the value of the property is an important factor in understanding the risk of the loan, determining the value is a key factor in mortgage lending. The value may be determined in various ways, but the most common are: In most countries,

22080-447: The imperial officials called missi dominici , who served as roving inspectors and troubleshooters. Charlemagne's court in Aachen was the centre of the cultural revival sometimes referred to as the " Carolingian Renaissance ". Literacy increased, as did development in the arts, architecture and jurisprudence, as well as liturgical and scriptural studies. The English monk Alcuin (d. 804)

22264-415: The king of the united Austrasia and Neustria. Charles, more often known as Charles the Great or Charlemagne , embarked upon a programme of systematic expansion in 774 that unified a large portion of Europe, eventually controlling modern-day France, northern Italy, and Saxony . In the wars that lasted beyond 800, he rewarded allies with war booty and command over parcels of land. In 774, Charlemagne conquered

22448-661: The large brooches in fibula or penannular form that were a key piece of personal adornment for elites, including the Irish Tara Brooch . Highly decorated books were mostly Gospel Books and these have survived in larger numbers , including the Insular Book of Kells , the Book of Lindisfarne , and the imperial Codex Aureus of St. Emmeram , which is one of the few to retain its " treasure binding " of gold encrusted with jewels. Charlemagne's court seems to have been responsible for

22632-413: The lenders borrow money, therefore, affects the cost of borrowing. Lenders may also, in many countries, sell the mortgage loan to other parties who are interested in receiving the stream of cash payments from the borrower, often in the form of a security (by means of a securitization ). Mortgage lending will also take into account the (perceived) riskiness of the mortgage loan, that is, the likelihood that

22816-470: The letters, of Pope Gregory the Great (pope 590–604) survived, and of those more than 850 letters, the vast majority were concerned with affairs in Italy or Constantinople. The only part of Western Europe where the papacy had influence was Britain, where Gregory had sent the Gregorian mission in 597 to convert the Anglo-Saxons to Christianity. Irish missionaries were most active in Western Europe between

23000-417: The line of Western emperors ceased, many of the kings who replaced them were from the same background. Intermarriage between the new kings and the Roman elites was common. This led to a fusion of Roman culture with the customs of the invading tribes, including the popular assemblies that allowed free male tribal members more say in political matters than was common in the Roman state. Material artefacts left by

23184-409: The loan against the value of the property. Therefore, a mortgage loan in which the purchaser has made a down payment of 20% has a loan to value ratio of 80%. For loans made against properties that the borrower already owns, the loan to value ratio will be imputed against the estimated value of the property. The loan to value ratio is considered an important indicator of the riskiness of a mortgage loan:

23368-534: The loan amount). However, in the United States, the average interest rates for fixed-rate mortgages in the housing market started in the tens and twenties in the 1980s and have (as of 2004) reached about 6 per cent per annum. However, gross borrowing costs are substantially higher than the nominal interest rate and amounted for the last 30 years to 10.46 per cent. In Denmark, similar to the United States mortgage market, interest rates have fallen to 6 per cent per annum. A risk and administration fee amounts to 0.5 per cent of

23552-517: The main and sometimes only outposts of education and literacy in a region. Many of the surviving manuscripts of the Latin classics were copied in monasteries in the Early Middle Ages. Monks were also the authors of new works, including history, theology, and other subjects, written by authors such as Bede (d. 735), a native of northern England who wrote in the late 7th and early 8th centuries. The Frankish kingdom in northern Gaul split into kingdoms called Austrasia , Neustria , and Burgundy during

23736-410: The main tactical unit. The need for revenue led to increased taxes and a decline in numbers of the curial , or landowning, class, and decreasing numbers of them willing to shoulder the burdens of holding office in their native towns. More bureaucrats were needed in the central administration to deal with the needs of the army, which led to complaints from civilians that there were more tax-collectors in

23920-633: The medieval period, and the modern period . The medieval period is itself subdivided into the Early , High , and Late Middle Ages . Population decline , counterurbanisation , the collapse of centralized authority, invasions, and mass migrations of tribes , which had begun in Late Antiquity , continued into the Early Middle Ages. The large-scale movements of the Migration Period , including various Germanic peoples , formed new kingdoms in what remained of

24104-459: The middle of the 4th century, diverting soldiers from the empire's frontier forces and allowing invaders to encroach. For much of the 4th century, Roman society stabilised in a new form that differed from the earlier classical period , with a widening gulf between the rich and poor, and a decline in the vitality of the smaller towns. Another change was the Christianisation , or conversion of

24288-484: The migrations of the Slavs added Slavic languages to Eastern Europe. As Western Europe witnessed the formation of new kingdoms, the Eastern Roman Empire remained intact and experienced an economic revival that lasted into the early 7th century. There were fewer invasions of the eastern section of the empire; most occurred in the Balkans. Peace with the Sasanian Empire , the traditional enemy of Rome, lasted throughout most of

24472-464: The military was the horseshoe , which allowed horses to be used in rocky terrain. The High Middle Ages was a period of tremendous expansion of population . The estimated population of Europe grew from 35 to 80 million between 1000 and 1347, although the exact causes remain unclear: improved agricultural techniques, the decline of slaveholding, a more clement climate and the lack of invasion have all been suggested. As much as 90 per cent of

24656-417: The mortgage payment; package loans add the costs of furnishings and other personal property to the mortgage. Buydown mortgages allow the seller or lender to pay something similar to points to reduce interest rate and encourage buyers. Homeowners can also take out equity loans in which they receive cash for a mortgage debt on their house. Shared appreciation mortgages are a form of equity release . In

24840-489: The mortgaged property apply, and may be tightly regulated by the relevant government. There are strict or judicial foreclosures and non-judicial foreclosures, also known as power of sale foreclosures. In some jurisdictions, foreclosure and sale can occur quite rapidly, while in others, foreclosure may take many months or even years. In many countries, the ability of lenders to foreclose is extremely limited, and mortgage market development has been notably slower. A study issued by

25024-613: The most popular party was the CVP which received 25.65% of the vote. The next three most popular parties were the FDP (20.48%), the Ticino League (20.02%) and the SVP (14.3%). In the federal election, a total of 144 votes were cast, and the voter turnout was 46.5%. In the 2007 Gran Consiglio election, there were a total of 297 registered voters in Sigirino, of which 189 or 63.6% voted. 1 blank ballot

25208-750: The natives of Britannia  – modern-day Great Britain – settled in what is now Brittany . Other monarchies were established by the Visigothic Kingdom in the Iberian Peninsula , the Suebi in northwestern Iberia, and the Vandal Kingdom in North Africa . In the sixth century, the Lombards settled in Northern Italy , replacing the Ostrogothic kingdom with a grouping of duchies that occasionally selected

25392-514: The north. The practice of assarting , or bringing new lands into production by offering incentives to the peasants who settled them, also contributed to the expansion of population. Mortgage loan A mortgage loan or simply mortgage ( / ˈ m ɔːr ɡ ɪ dʒ / ), in civil law jurisdictions known also as a hypothec loan , is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting

25576-424: The options of paying the interest on a monthly basis. By paying off the interest means the balance will remain level for the rest of their life. This market is set to increase as more retirees require finance in retirement. For older borrowers (typically in retirement), it may be possible to arrange a mortgage where neither the principal nor interest is repaid. The interest is rolled up with the principal, increasing

25760-522: The outstanding debt. In addition, an acquisition fee is charged which amounts to one per cent of the principal. The mortgage industry of the United States is a major financial sector. The federal government created several programs, or government sponsored entities , to foster mortgage lending, construction and encourage home ownership . These programs include the Government National Mortgage Association (known as Ginnie Mae),

25944-435: The participants or the financial markets, such as the banking industry), and often through state intervention (direct lending by the government, direct lending by state-owned banks, or sponsorship of various entities). Other aspects that define a specific mortgage market may be regional, historical, or driven by specific characteristics of the legal or financial system. Mortgage loans are generally structured as long-term loans,

26128-537: The payment of some sort of compensation . Women took part in aristocratic society mainly in their roles as wives and mothers of men, with the role of mother of a ruler being especially prominent in Merovingian Gaul. In Anglo-Saxon society the lack of many child rulers meant a lesser role for women as queen mothers, but this was compensated for by the increased role played by abbesses of monasteries. Only in Italy does it appear that women were always considered under

26312-401: The payoff of the loan. Similarly, a mortgage can be ended before its scheduled end by paying some or all of the remainder prematurely, called curtailment. An amortization schedule is typically worked out taking the principal left at the end of each month, multiplying by the monthly rate and then subtracting the monthly payment. This is typically generated by an amortization calculator using

26496-575: The peninsula in a region they called Al-Andalus . The Islamic conquests reached their peak in the mid-eighth century. The defeat of Muslim forces at the Battle of Tours in 732 led to the reconquest of southern France by the Franks, but the main reason for the halt of Islamic growth in Europe was the overthrow of the Umayyad Caliphate and its replacement by the Abbasid Caliphate . The Abbasids moved their capital to Baghdad and were more concerned with

26680-651: The periodic payments for which are similar to an annuity and calculated according to the time value of money formulae. The most basic arrangement would require a fixed monthly payment over a period of ten to thirty years, depending on local conditions. Over this period the principal component of the loan (the original loan) would be slowly paid down through amortization. In practice, many variants are possible and common worldwide and within each country. Lenders provide funds against property to earn interest income , and generally borrow these funds themselves (for example, by taking deposits or issuing bonds ). The price at which

26864-408: The political and demographic nature of what had been the Western Roman Empire. By the end of the 5th century the western section of the empire was divided into smaller political units, ruled by the tribes that had invaded in the early part of the century. The deposition of the last emperor of the west, Romulus Augustulus , in 476 has traditionally marked the end of the Western Roman Empire. By 493

27048-532: The political power devolved to the local lords. Missionary efforts to Scandinavia during the 9th and 10th centuries helped strengthen the growth of kingdoms such as Sweden , Denmark , and Norway , which gained power and territory. Some kings converted to Christianity, although not all by 1000. Scandinavians also expanded and colonised throughout Europe. Besides the settlements in Ireland, England, and Normandy, further settlement took place in what became Russia and Iceland . Swedish traders and raiders ranged down

27232-504: The population are resident foreign nationals. Over the last 10 years (1997-2007) the population has changed at a rate of 45.7%. Most of the population (as of 2000) speaks Italian (89.2%), with German being second most common (4.9%) and French being third (1.8%). Of the Swiss national languages (as of 2000), 19 speak German , 7 people speak French , 348 people speak Italian . The remainder (16 people) speak another language. As of 2008,

27416-515: The property may then be sold. Any amounts received from the sale (net of costs) are applied to the original debt. In some jurisdictions, mortgage loans are non-recourse loans: if the funds recouped from sale of the mortgaged property are insufficient to cover the outstanding debt, the lender may not have recourse to the borrower after foreclosure. In other jurisdictions, the borrower remains responsible for any remaining debt. In virtually all jurisdictions, specific procedures for foreclosure and sale of

27600-419: The protection and control of a male relative. Peasant society is much less documented than the nobility. Most of the surviving information available to historians comes from archaeology ; few detailed written records documenting peasant life remain from before the 9th century. Most of the descriptions of the lower classes come from either law codes or writers from the upper classes. Landholding patterns in

27784-454: The rates as well. Upon making a mortgage loan for the purchase of a property, lenders usually require that the borrower make a down payment (called a deposit in English law); that is, contribute a portion of the cost of the property. This down payment may be expressed as a portion of the value of the property (see below for a definition of this term). The loan to value ratio (or LTV) is the size of

27968-431: The repayment vehicle being used. As such the likes of Nationwide and other lenders have pulled out of the interest-only market. A resurgence in the equity release market has been the introduction of interest-only lifetime mortgages. Where an interest-only mortgage has a fixed term, an interest-only lifetime mortgage will continue for the rest of the mortgagors life. These schemes have proved of interest to people who do like

28152-520: The rivers of the Russian steppe, and even attempted to seize Constantinople in 860 and 907 . Christian Spain, initially driven into a small section of the peninsula in the north, expanded slowly south during the 9th and 10th centuries, establishing the kingdoms of Asturias and León . In Eastern Europe, Byzantium revived its fortunes under Emperor Basil I (r. 867–886) and his successors Leo VI (r. 886–912) and Constantine VII (r. 913–959), members of

28336-456: The roll-up effect (compounding) of interest on traditional equity release schemes. They have also proved beneficial to people who had an interest-only mortgage with no repayment vehicle and now need to settle the loan. These people can now effectively remortgage onto an interest-only lifetime mortgage to maintain continuity. Interest-only lifetime mortgage schemes are currently offered by two lenders – Stonehaven and more2life. They work by having

28520-495: The secured property take priority over the borrower's other creditors , which means that if the borrower becomes bankrupt or insolvent , the other creditors will only be repaid the debts owed to them from a sale of the secured property if the mortgage lender is repaid in full first. In many jurisdictions, it is normal for home purchases to be funded by a mortgage loan. Few individuals have enough savings or liquid funds to enable them to purchase property outright. In countries where

28704-649: The slow infiltration of the Balkans by the Slavs added a further difficulty for Justinian's successors. It began gradually, but by the late 540s Slavic tribes were in Thrace and Illyrium , and had defeated an imperial army near Adrianople in 551. In the 560s the Avars began to expand from their base on the north bank of the Danube ; by the end of the 6th-century, they were the dominant power in Central Europe and routinely able to force

28888-674: The southern part of Great Britain. In northern Britain, Kenneth MacAlpin (d. c. 860) united the Picts and the Scots into the Kingdom of Alba . In the early 10th century, the Ottonian dynasty had established itself in Germany , and was engaged in driving back the Magyars. Its efforts culminated in the coronation in 962 of Otto I (r. 936–973) as Holy Roman Emperor . In 972, he secured recognition of his title by

29072-401: The special school. In the lower secondary school system, students either attend a two-year middle school followed by a two-year pre-apprenticeship or they attend a four-year program to prepare for higher education. There were 24 students in the two-year middle school, while 6 students were in the four-year advanced program. The upper secondary school includes several options, but at the end of

29256-475: The total households were owner occupied, or in other words did not pay rent (though they may have a mortgage or a rent-to-own agreement). As of 2000, there were 166 private households in the village, and an average of 2.3 persons per household. In 2000 there were 122 single family homes (or 73.5% of the total) out of a total of 166 inhabited buildings. There were 28 two family buildings (16.9%) and 9 multi-family buildings (5.4%). There were also 7 buildings in

29440-414: The total) were permanently occupied, while 47 apartments (21.4%) were seasonally occupied and 7 apartments (3.2%) were empty. As of 2007, the construction rate of new housing units was 3.8 new units per 1000 residents. The historical population is given in the following chart: The entire villaggio of Osignano is designated as part of the Inventory of Swiss Heritage Sites . In the 2007 federal election

29624-447: The towns chosen as capitals. Although there had been Jewish communities in many Roman cities , the Jews suffered periods of persecution after the conversion of the empire to Christianity. Officially they were tolerated, if subject to conversion efforts, and at times were even encouraged to settle in new areas. Religious beliefs in the Eastern Roman Empire and Iran were in flux during the late sixth and early seventh centuries. Judaism

29808-470: The underwriting process. Any changes made in the applicant's credit, employment, or financial information could result in the loan being denied. There are many types of mortgages used worldwide, but several factors broadly define the characteristics of the mortgage. All of these may be subject to local regulation and legal requirements. The two basic types of amortized loans are the fixed rate mortgage (FRM) and adjustable-rate mortgage (ARM) (also known as

29992-405: The upper secondary program, a student will be prepared to enter a trade or to continue on to a university or college. In Ticino, vocational students may either attend school while working on their internship or apprenticeship (which takes three or four years) or may attend school followed by an internship or apprenticeship (which takes one year as a full-time student or one and a half to two years as

30176-427: The village that were multipurpose buildings (used for both housing and commercial or another purpose). The vacancy rate for the village, in 2008, was 0%. In 2000 there were 220 apartments in the village. The most common apartment size was the 5 room apartment of which there were 68. There were 22 single room apartments and 68 apartments with five or more rooms. Of these apartments, a total of 166 apartments (75.5% of

30360-484: The village who were employed in some capacity, of which females made up 35.5% of the workforce. In 2000, there were 106 workers who commuted into the village and 159 workers who commuted away. The village is a net exporter of workers, with about 1.5 workers leaving the village for every one entering. About 17.9% of the workforce coming into Sigirino are coming from outside Switzerland. Of the working population, 7.1% used public transportation to get to work, and 62.9% used

30544-470: The village. Middle Ages In the history of Europe , the Middle Ages or medieval period lasted approximately from the 5th to the late 15th centuries, similarly to the Post-classical period of global history . It began with the fall of the Western Roman Empire and transitioned into the Renaissance and the Age of Discovery . The Middle Ages is the middle period of the three traditional divisions of Western history: classical antiquity ,

30728-514: The west, Byzantine control of most of the Western Empire could not be sustained; the reconquest of the Mediterranean periphery and the Italian Peninsula ( Gothic War ) in the reign of Justinian (r. 527–565) was the sole, and temporary, exception. The political structure of Western Europe changed with the end of the united Roman Empire. Although the movements of peoples during this period are usually described as "invasions", they were not just military expeditions but migrations of entire peoples into

30912-425: The word mortgage has become the generic term for a loan secured by such real property . As with other types of loans, mortgages have an interest rate and are scheduled to amortize over a set period of time, typically 30 years in the United States. All types of real property can be, and usually are, secured with a mortgage and bear an interest rate that is supposed to reflect the lender's risk. Mortgage lending

31096-438: Was a trend throughout the old Roman lands that happened in the Early Middle Ages. This was especially marked in the lands that did not lie on the Mediterranean, such as northern Gaul or Britain. Non-local goods appearing in the archaeological record are usually luxury goods. In the northern parts of Europe, not only were the trade networks local, but the goods carried were simple, with little pottery or other complex products. Around

31280-402: Was an active proselytising faith, and at least one Arab political leader converted to it. In addition Jewish theologians wrote polemics defending their religion against Christian and Islamic influences. Christianity had active missions competing with the Persians' Zoroastrianism in seeking converts, especially among residents of the Arabian Peninsula . All these strands came together with

31464-438: Was an important feature of the 5th-century Roman military. The various invading tribes had differing emphases on types of soldiers—ranging from the primarily infantry Anglo-Saxon invaders of Britain to the Vandals and Visigoths who had a high proportion of cavalry in their armies. During the early invasion period, the stirrup had not been introduced into warfare, which limited the usefulness of cavalry as shock troops because it

31648-441: Was cast, leaving 188 valid ballots in the election. The most popular party was the LEGA which received 52 or 27.7% of the vote. The next three most popular parties were; the PLRT (with 45 or 23.9%), the PPD +GenGiova (with 33 or 17.6%) and the SSI (with 28 or 14.9%). In the 2007 Consiglio di Stato election, The most popular party was the LEGA which received 63 or 33.3% of the vote. The next three most popular parties were;

31832-420: Was dominated by efforts to regain the dignity and classicism of imperial Roman and Byzantine art , but was also influenced by the Insular art of the British Isles. Insular art integrated the energy of Irish Celtic and Anglo-Saxon Germanic styles of ornament with Mediterranean forms such as the book, and established many characteristics of art for the rest of the medieval period. Surviving religious works from

32016-526: Was first mentioned in 1296. It was totally rebuilt in the 16th century and restored in the 18th. After its separation from Bironico in 1625, Sigirino had its own parish . Economically, the village was dominated by agriculture and emigration. In the 21st century, it belongs to commercial and industrial zone in the valley floor between Sigirino and the neighboring villages. Sigirino has an area, as of 1997, of 8.71 square kilometers (3.36 sq mi). Of this area, 0.31 km (0.12 sq mi) or 3.6%

32200-408: Was invited to Aachen and brought the education available in the monasteries of Northumbria. Charlemagne's chancery —or writing office—made use of a new script today known as Carolingian minuscule , allowing a common writing style that advanced communication across much of Europe. Charlemagne sponsored changes in church liturgy , imposing the Roman form of church service on his domains, as well as

32384-434: Was less need for large tax revenues and so the taxation systems decayed. Warfare was common between and within the kingdoms. Slavery declined as the supply weakened, and society became more rural. Between the 5th and 8th centuries, new peoples and individuals filled the political void left by Roman centralised government. The Ostrogoths , a Gothic tribe, settled in Roman Italy in the late fifth century under Theoderic

32568-436: Was marked by scholasticism , a philosophy that emphasised joining faith to reason, and by the founding of universities . The theology of Thomas Aquinas , the paintings of Giotto , the poetry of Dante and Chaucer , the travels of Marco Polo , and the Gothic architecture of cathedrals such as Chartres are among the outstanding achievements toward the end of this period and into the Late Middle Ages. The Late Middle Ages

32752-470: Was marked by difficulties and calamities including famine, plague, and war, which significantly diminished the population of Europe; between 1347 and 1350, the Black Death killed about a third of Europeans. Controversy, heresy , and the Western Schism within the Catholic Church paralleled the interstate conflict, civil strife, and peasant revolts that occurred in the kingdoms. Cultural and technological developments transformed European society, concluding

32936-439: Was marked by numerous divisions of the empire among his sons and, after 829, civil wars between various alliances of father and sons over the control of various parts of the empire. Eventually, Louis recognised his eldest son Lothair I (d. 855) as emperor and gave him Italy. Louis divided the rest of the empire between Lothair and Charles the Bald (d. 877), his youngest son. Lothair took East Francia , comprising both banks of

33120-496: Was not possible to put the full force of the horse and rider behind blows struck by the rider. The greatest change in military affairs during the invasion period was the adoption of the Hunnic composite bow in place of the earlier, and weaker, Scythian composite bow. Another development was the increasing use of longswords and the progressive replacement of scale armour by mail armour and lamellar armour . The importance of infantry and light cavalry began to decline during

33304-417: Was not uncommon for interest only mortgages to be arranged without a repayment vehicle, with the borrower gambling that the property market will rise sufficiently for the loan to be repaid by trading down at retirement (or when rent on the property and inflation combine to surpass the interest rate). Recent Financial Services Authority guidelines to UK lenders regarding interest-only mortgages have tightened

33488-442: Was reinforced with propaganda that portrayed the Merovingians as inept or cruel rulers, exalted the accomplishments of Charles Martel, and circulated stories of the family's great piety. At the time of his death in 768, Pippin left his kingdom in the hands of his two sons, Charles (r. 768–814) and Carloman (r. 768–771). When Carloman died of natural causes, Charles blocked the succession of Carloman's young son and installed himself as

33672-417: Was the denarius or denier , while the Anglo-Saxon version was called a penny . From these areas, the denier or penny spread throughout Europe from 700 to 1000 AD. Copper or bronze coins were not struck, nor were gold except in Southern Europe. No silver coins denominated in multiple units were minted. Christianity was a major unifying factor between Eastern and Western Europe before the Arab conquests, but

33856-409: Was with the British Isles and Scandinavia, in contrast to the older Roman Empire with its trading networks centred on the Mediterranean. The empire was administered by an itinerant court that travelled with the emperor, as well as approximately 300 imperial officials called counts , who administered the counties the empire had been divided into. Clergy and local bishops served as officials, as well as

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