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LOOK TO LARRY - New York Post
Billionaire real estate mogul Larry Silverstein is gunning to buy the iconic GM Building from beleaguered developer Harry Macklowe in a deal that could fetch about $3.5 billion ahead of a deadline for bids, according to sources familiar with the ...

Investment Sales - New York Observer
Geraldine Sargeant. Robert Knakal. Natural gas and heating oil costs are expected to rise considerably as the nation slides into winter, according to a Wednesday New York Times story . (Rising heating oil prices “could be New England’s own ...

Great Wolf Resorts Closes $55 Million Mortgage Loan - PR Newswire
MADISON, Wis., Feb. 6 /PRNewswire-FirstCall/ -- Great Wolf Resorts, Inc. (NASDAQ: WOLF) , North America's leading family of indoor waterpark resorts, today announced that the company has closed on a $55 million mortgage loan. The loan is secured by ...

ITC Holdings Corp. Prices Its Equity Offering - PR Newswire
NOVI, Mich., Jan. 17 /PRNewswire-FirstCall/ -- ITC Holdings Corp. (NYSE: ITC) today announced that it has priced its public offering of 5,583,250 shares of common stock at $50.15 per share and has granted the underwriters a 30-day option to purchase ...

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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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