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House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News BlogsABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...
Letter: Register of Deeds offers solution to foreclosure crisis - Salem NewsI believe a little common sense can help solve the worst economic downturn that I have seen in my lifetime, as well as the foreclosure nightmare that we are facing not only here in Essex County, but across Massachusetts and the country. As Register ...
Stocks Video Gallery - CNBCThe Fast Money traders take a look at today’s biggest market movers. Oil Market Over Supplied: O... OPEC Secretary General Abdalla Salem El-Badri says the oil market was "over supplied." Simon Wardell from IHS Global Ins... Deeper Rate Cuts for ...
Feds consider changes to mortgage program - Salem NewsWASHINGTON (AP) _ The government may let more borrowers qualify for a $300 billion program designed to let troubled homeowners swap risky loans for more affordable ones, a top Bush administration official said Wednesday. The program, included in a ...
Lending a hand - Greensboro Business JournalJanet Vaughn, a registered vascular technician for Quality Mobile X-Ray in Winston-Salem, performs a procedure on a patient. Corinne Moreland has heard what many business owners in the Triad and elsewhere are saying these days — that banks aren’t ...
Clackamas Town Center & Pioneer Place in financial trouble - kgw.comPORTLAND -- The economic future does not look bright for several shopping malls in Oregon and Washington. General Growth Properties, the company that owns Pioneer Place, the Clackamas Town Center, the Salem Center and several other malls, is having ...
State to hold bond sale for residents - Boston GlobeIntent on replicating the success of a September marketing pitch to individual investors, the state will hold an exclusive bond sale tomorrow and Tuesday for individuals before making its latest offering available to institutional customers Wednesday ...
Mortgage-market revival: Try, try again - CNN MoneyNEW YORK (Fortune) -- The feds are trying once more to resuscitate the mortgage market. But history shows reviving this patient won't be easy. The Federal Reserve said Tuesday morning it would spend $600 billion in coming quarters to buy the bonds ...
2008 Election - OregonianDiane McKeel will take a seat on the Multnomah County Board of Commissioners in January, after a narrow come-from-behind victory. McKeel, the executive director of the West Columbia Gorge Chamber of Commerce, said she will spend the next two months ...
Haverhill woman's tale of housing woe offers view into global ... - Eagle-TribuneMarie Martinez rode the real estate wave for a decade, buying property worth, on paper, more than $1 million. Then she hit the rocks and lost everything. Martinez's story mirrors those of millions of Americans caught up in the real estate frenzy that ...
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