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Chamber gets a peek at home recovery package - Miami Herald
Armando Fana, director of the Miami field office for the U.S. Department of Housing and Urban Development, outlined the legislation to the Minority Chamber of Commerce Tuesday, highlighting key provisions, including a refinance program called Hope ...

Financial Crisis Is Absent From Agendas of Parties, Candidates - Bloomberg
Aug. 27 (Bloomberg) -- The U.S. is facing the worst financial crisis since the Depression. You would never know that from the Democrats' platform in Denver or its Republican counterpart, or from listening to Barack Obama or John McCain . While both ...

Gazprom Leads Surge in Russian Debt Risk to Five-Month High - Bloomberg
Aug. 27 (Bloomberg) -- OAO Gazprom led a jump in the cost of protecting Russian companies from default to the highest in almost five months on investor concern the country's military incursion in Georgia will trigger a rise in borrowing costs. Credit ...

Centro Properties warns it may not lure equity investment by December - International Herald Tribune
MELBOURNE : Centro Properties Group, an Australian victim of the subprime crisis, said Monday that it was unlikely to secure equity investment by a December deadline, making it dependent on winning yet another debt extension from its bankers. The ...

Pussyfooting around the crisis - The Age
The United States is facing the worst financial crisis since the Depression, but you would never know that from the Democrats' platform in Denver or its Republican counterpart, or from listening to Barack Obama or John McCain. While both candidates ...

Benitez confident Reds can raise game - The Independent
Fernando Torres will make his 50th appearance for Liverpool against Standard Liège tomorrow night in a must-win encounterfor the club as they bid to secure a lucrative place in the group stages of the Champions League Rafael Benitez has promised ...

Benitez confident Liverpool can raise game - Belfast Telegraph
Rafael Benitez has promised that Liverpool's Champions League form will be "much, much better" when they aim this week to reach the group stages for the fifth successive time. The Liverpool manager is acutely aware that his side's third qualifying ...

McMahan’s stores to close - Record Searchlight
Blaming the housing downturn, McMahan’s Furniture will shut down after nearly 90 years in business. The Santa Monica-based company announced Monday that all 17 of its McMahan’s and La-Z-Boy Furniture Gallery stores in California and Oregon will ...

PHH Corporation Q2 2008 Earnings Call Transcript - Seekingalpha.com
Thank you, Laurie. Good morning and welcome to the PHH second quarter 2008 earnings conference call. On the call today are Terry Edwards, President and Chief Executive Officer of PHH Corporation and PHH Mortgage, and George Kilroy, President and ...

Bond sale proceeds - Thief River Falls Times
The Thief River Falls City Council has authorized the sale of $1.63 million in General Obligation State Aid Street Bonds. The bond proceeds will be used to pay for the Greenwood Street bridge project. The authorization was granted at the council’s ...

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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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