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South Florida Sun-Sentinel - Fort Lauderdale Sun-SentinelLisa Murzin-Pelcz needs a miracle to climb out of a foreclosure hole that's getting deeper every month as she misses each mortgage payment. She's dangerously close to losing the house in East Hartford where she has lived for the past 12 years with ...
Top National News Right Now - WPRIBRUSSELS, Belgium (AP) - Secretary of State Condoleezza Rice says NATO will not allow Russia to destabilize Georgia, intimidate other pro-Western governments in the former Soviet bloc or re-establish an Iron Curtain across Europe. Speaking to ...
Seawall divides city - Corpus Christi CallerGeorge Gongora/Caller-Times State law creates a public easement of 200 feet along all beaches. By the mid-1990s, the beach (seen at high tide) had eroded so much that nearby hotels and condos were within the public easement. The state Legislature ...
Housing stories and features - Orlando SentinelTo the relief of landowners, some of whom had driven for hours or flown in from out of town, the Deltona City Commission killed a tax plan that would have slapped about 200 property owners with a total of $83 million in taxes over 30 years. As ...
Bond issue change sought - Baton Rouge AdvocateA proposal to refinance a $120 million bond issue for Mayor-President Kip Holden’s Green Light Program got a lukewarm reception Wednesday from a Metro Council committee. Bond attorney Richard Leibowitz said the refinancing is necessary because the ...
Video - New National Poll: Majority of Americans Oppose Expanded Role ... - PR NewswireWASHINGTON, Nov. 1 /PRNewswire/ -- As Congress debates how to solve the mortgage credit crunch, a new survey by Freedom Works indicates a majority of Americans don't want Uncle Sam to foot the bill. "I don't think we should look towards government ...

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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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