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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 ...
Mortgage aid idea falling short - Scranton TimesWASHINGTON — The government expects only 20,000 troubled borrowers will be able to refinance into more affordable home loans by next fall under a new mortgage aid program passed by lawmakers over the summer. The $300 billion “Hope for Homeowners ...
Blakely to hike trash fee; electric, taxes stay steady - Scranton TimesBLAKELY — Garbage fees will rise, but Blakely Borough Council doesn’t plan to hike electric rates or add property taxes as part of its proposed 2009 budget presented this week. The $11.2 million budget is $600,000 less, or 5 percent, than the ...
Empty homes show lives torn apart - Pittsburgh Tribune ReviewThe family photos can get to Bob Watkins. "It's kind of sad. People's lives just sort of go away," said the Jeannette man who cleans out homes after their owners lose them to foreclosure. Long after the neighbors have forgotten who lived there, the ...
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