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Local auto dealers say news not all bad - Yuma Daily Sun
Which will it be for the Big Three automakers: massive federal bailouts or bankruptcy and a total reorganization? And if either happens, what effect will it have on local auto dealers? Apparently a lot less than one might think. "I can't see Congress ...

The McCain Mortgage Plan - CNBC
Republican presidential candidate John McCain told CNBC that the government's top priority in the financial crisis should be on buying bad mortgages to keep Americans in their homes. "The administration is not doing what I think they should do, and ...

Good Night Shirt defends steeplechase title - FOX News
CAMDEN, S.C. — Good Night Shirt completed a perfect season by winning the Colonial Cup Steeplechase for the second year in a row on Sunday. The 7-year-old Good Night Shirt edged Preemptive Strike by a neck to run his record to 5-for-5 in 2008. The ...

ABCPMMMFLF Spells Fed Relief for JPMorgan, Citi Shadow Banking - Bloomberg
Nov. 17 (Bloomberg) -- The U.S. Federal Reserve's emergency lending programs, intended to thaw commercial paper and money markets, are also helping banks limit losses from some of their $4 trillion in off-the-books guarantees and loan commitments. A ...

Chat transcript with Roy Komack - Boston Globe
Roy Komack founded and serves as president of the Family Financial Architects, Inc in Natick. He received his MBA from Boston University and is a Life Member of the American Association of Individual Investors and NAPFA-Registered Financial Advisor ...

Titans stay undefeated, Bengals get first win - FOX News
The Tennessee Titans still have their sights set on perfection, thanks to Rod Bironas' right leg. Bironas redeemed himself for an earlier miss by kicking a 41-yard field goal with 9:36 to go in overtime that led the undefeated Titans to a 19-16 ...

More trouble for Dunmores - Sacramento Business Journal
Dunmore Capital LLC and its affiliates have lost more than one-fourth of the 7,000 acres they once controlled, and more land is at risk if disputes over tens of millions of dollars in debt can’t be resolved. An investor in six of the company’s ...

Bits 'n' Pieces: Vancouver’s ‘House Hunters’ find hardship - Columbian
(Suzie and John Custer of Battle Ground.) Mark, left, Madeline, Makayla and Rachel Workhoven. Rosi Oldenburg Mark and Rachel Workhoven had a not-so-happy ending after their home-shopping story appeared on an Oct. 5 episode of Home & Garden Television ...

Darling details £50 billion bank bailout plan - Times Online
Chancellor Alistair Darling today launched a drastic rescue of Britain's high street banks in move designed to head off a cataclysmic failure of confidence by announcing a part-nationalisation plan with £50 billion of taxpayers' money. He said there ...

Poconos mortgage suit set for February - Allentown Morning Call
A federal lawsuit filed six years ago alleging that more than 100 home buyers were defrauded by JP Morgan Chase Bank and a Poconos builder will finally go to trial in February. U.S. District Judge Christopher C. Conner on Friday set a Feb. 2, 2009 ...

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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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