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Message to Obama: Send loans fast - CNN MoneyUnable to get bank loans, A-2-Z Scuba owner Amy Rhodes is scrambling to keep her business on track. (CNNMoney.com) -- What could jump-start the economy? Affordable loans for small business. With bank lending almost frozen and consumer spending down ...
'07 Horse of the Year Curlin to be retired - FOX NewsMajority owner Jess Jackson, who has an 80 percent stake in the horse, said in a statement issued Sunday that he'll consider offers from farms in Kentucky before deciding where Curlin will stand at stud. "He always gave it his all and has done ...
Bailout goes from necessary to nightmarish - Atlanta Journal ConstitutionThat $700 billion financial sector bailout that I supported — and do still, but with an exit strategy — is a nightmare in the making. Look what’s happened since the first of the month: Atlanta Mayor Shirley Franklin, smelling a bailout handout ...
MarketGraphics head pitched for HUD post - Nashville Business JournalA Nashville housing analyst is being pushed as a candidate for President-elect Barack Obama’s cabinet. Some State Democratic leaders are backing Edsel Charles for the nation’s top housing job as secretary of Housing and Urban Development. Charles ...
LIVE ELECTION NIGHT BLOG - ABC News Blogs1:37 am ET: Based on exit polls and analysis of the vote so far, ABC News projects McCain will win Alaska. 1:22 am ET: Martin Luther King III, human rights activist: “I think my dad and my mom are looking down on us with great big smiles on their ...
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.
View all Terms