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U.K. takes over Royal Bank of Scotland - International Herald TribuneLONDON : The British government took control of Royal Bank of Scotland on Friday after investors shunned the lender's share sale, paving the way for a larger government role in Britain's banking sector. Investors only signed up for 0.24 percent of ...
OZ Minerals in shock trading halt due to debt - The AustralianThe troubled miner admitted it was struggling to refinance $US560 million ($856 million) worth of debt. The miner, which has already been forced to cut staff, curtail production and review all operations because of the commodity price slump, was ...
Fixed-rate trap snares 43,000 home owners - Bombala TimesMORE than 40,000 unlucky people have been caught out in a fixed mortgage rate trap, having taken out their loan at the highest fixed interest rates in a decade, denied any saving from the recent cuts and confronting costly break fees if they decide ...
Bank deal puts Govt credit rating at risk - New Zealand HeraldNew Zealand's banks must refinance a massive amount of offshore funding over the next three months which may affect the Government's credit rating given its new wholesale bank funding guarantee, international ratings agency Fitch says. The agency ...
Deals with Beach company put some owners out of homes - HamptonRoads.comClick a thumbnail to view the full-size image. Buy Pilot photos here. Loading... Distressed homeowner seeks to refinance, is told credit is insufficient, and is referred to Clean Slate for “credit repair.” An “investor” (straw buyer) is ...
Bursting Bubbles Smack Japan's Midsized Developers - ForbesIn the latest sign that the global credit crunch is taking its toll in Japan a midsized condominium developer, Morimoto Co., declared bankruptcy Friday, scuttled by $1.7 billion in debt it could not repay. Only the $2.4 billion failure of rival ...
Realtor tipped off police to NoHo 'mummy' - KABCNORTH HOLLYWOOD, Calif. (KABC) -- A real estate agent is caught up in a gruesome discovery at a home in North Hollywood. The real estate agent says she became suspicious when the man refused to let her take some pictures inside the home. That led to ...
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. Wells Fargo: Clearly, there are numerous pitfalls that Wells Fargo will need to navigate, but in the short run, at least, it won. Wells Fargo ...
Australian stocks rise to highest close in two weeks - The AustralianLOCAL shares surged more than 4 per cent today for the first weekly gain in three weeks amid expectations for a deep rates cut. Shares rose despite more grim economic data, profit warnings and several capital raisings. Shares gained nearly 10 per ...
Mortgage deals with Beach company put owners out of homes - HamptonRoads.comIt was Delisa Mackey's dream home: a tidy two-story house with a two-car garage on a quiet Suffolk cul-de-sac with a patch of woods out back. It was built brand-new to her specifications in 2002, and her name was on the deed. No more renting for this ...
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