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With economy on the brink, White House launches campaign to quickly ... - Minneapolis Star TribuneOne thing to realize, the riskier subprime loans were pushed later in the cycle. Once the easy loans were made to legitimate borrowers, … read more the industry pushed (hard - remember all those refinance commercials!). Like the plant in "Little ...
CRA the Root Cause to US Financial Crisis - OpEdNews.comIn 1977 there was a little known act signed by the Democratic president called the community reinvestment act (CRA). Its purpose was to spark financial support in what was considered to be high risk areas (bankruptcy, low income etc). The thought was ...
2008 (2134) - Dakota Voice► January 16 - January 23 (1) You don't see this kind of courage in a lot of adults, much less a 6-year old. From the Atlanta Journal-Constitution and ABC News comes word of a young boy who rescued his 5-year old friend from drowning. Josiah, who ...

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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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