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Week in Review - Thursday, Sep 4 - Delaware OnlineDOVER — An ascension to the crown can be one thing, but Delaware State University learned that living as the champion poses a challenge all its own. "I will keep taxes low and cut them where I can. My opponent will raise them. I will cut government ...
Countrywide Helped More Than 80,000 Financially Troubled Borrowers ... - PR NewswireCALABASAS, Calif., Jan. 16 /PRNewswire-FirstCall/ -- Countrywide Financial Corporation (NYSE: CFC) today announced that it helped more than 80,000 borrowers retain their homes in 2007. Loan modifications accounted for 69 percent of all home retention ...
FHA loans come to rescue of home buyers - Delaware OnlineThe Magnolia resident was drowning in bills and wanted to refinance, but with home prices declining, her consolidated debt totaled almost as much as her home was worth. But the quick refinancings and easy credit of years past were drying up ...
Facing foreclosure, some just walk away - Delaware OnlineDebbie Chase never imagined she would find herself in foreclosure. In the spring of 2006, when the paralegal's parents retired and decided to move to Delaware to be closer to their grandchildren, buying a bigger home for the entire family seemed like ...

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Today's Mortgage Terms starting with I
Index: An index is usually a widely published market rate such as LIBOR, T-Bill or 11th District Cost of Funds (COFI). Lenders use these indices to set the interest rates charged on mortgage loans. For ARM, a predetermined margin is added to the index to calculate the interest rate adjustment.
Initial Rate: The rate charged for the first interval of an ARM loan.
Interest: Compensation in the form of money paid for the use of money.
Interest Rate Cap: Caps limit the range that the interest rate on an adjustable rate mortgage can change in an adjustment interval during the term of the loan.
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