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HUD backs plan to save homes in foreclosure - Oxford Press
HAMILTON — Butler County has submitted a plan to the U.S. Department of Housing and Urban Development to use a $4.2 million federal grant to combat neighborhood blight and foreclosure. Central to the county's plan is an untested initiative to keep ...

'Black Friday' won't stave off black days ahead: Analysts - Ottawa Sun
WASHINGTON (AP) — U.S. retail shoppers hunting for holiday bargains on ”Black Friday” won’t be enough to stave off what’s likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims ...

U.S. Auto Workers to hold meeting on bailout - Winnipeg Sun
DETROIT (AP) — Local United Auto Workers leaders from across the country will hold an emergency meeting in Detroit on Wednesday to discuss concessions the union could make to help auto companies get government loans. UAW leaders called the meeting ...

House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News Blogs
ABC 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 ...

Global Credit Crisis Hits Brazil - Forbes
The financial crisis and subsequent credit squeeze, coupled with global recession fears, are having a serious impact on Brazil's agriculture and agribusiness, a crucial source of both foreign exchange and employment. Elusive finance. The sharp drop ...

PHH reports $84M in red ink - Baltimore Business Journal
Engel & Voelkers grows despite sour residential market ERA Oxford, Century 21 Alliance join forces in metro Birmingham PHH sale off PHH reports $84M in red ink Campbell's sale of Australian unit is The Real McCoy PHH Corp. , an outsource provider of ...

McCain wants to postpone debate until fantasy baseball season is over - Serioussports Newsnetwork
OXFORD, MS — Citing the unbelievable pressures facing most fantasy baseball playing Americans and the heady times that are coming up this weekend, John McCain has proposed that the presidential debate between he and democratic candidate Barack ...

New Auto Loans – Money for That Swanky New Car - Best Syndication
Vehicles such as cars are no longer items of luxury. For people commuting daily, public transportation system can be irritating: the chances of missing the bus; the delay in traffic jams as the public transportation does not take alternate routes ...

The Scary Truths Behind the Iconic Yellow School Buses - FOX News
How much do you know about your child’s school bus? When you send them out to the bus stop, do you know the driver’s name? His or her qualifications or driving record? Or even more important, what condition that bus, carrying your precious cargo ...

Darling summons bank chiefs over rate cut failure - Times Online
Alistair Darling summoned the chief executives of Britain’s biggest banks to Downing Street today to demand that they immediately pass on the Bank of England’s interest rate cut to their customers. Treasury sources confirmed to The Times that the ...

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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.

    View all Terms
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