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Coastal Post Online - Coastal Post News
The foreclosure crisis continues to strike at American homeowners, something that has produced a new to this generation trend - middleclass homelessness. Add that to the number of lower income people making the shift to from homeowner to homelessness ...

Mortgage rate drop spurs rush to lenders for refinancing - Detroit Free Press
A sharp plunge in U.S. mortgage rates prompted a rush to refinance, resulting in record-setting business Tuesday at Livonia-based Quicken Loans and big days for other lenders. Following government efforts to unfreeze consumer credit, U.S. mortgage ...

UPDATE 3-Metrovacesa to offer HSBC HQ to bank for $1.3 bln - Forbes
MADRID/LONDON, Nov 28 (Reuters) - Indebted Spanish property company Metrovacesa wants HSBC to buy back a landmark London skyscraper it bought from the bank less than two years ago after failing to refinance debt secured on the asset. At a board ...

Roads and Skies Emptier Than Usual at Start of Thanksgiving Travel ... - FOX News
CHICAGO — Travelers breezed through airport terminals Wednesday and drivers cruised open roads, the effects of a sour economy blamed for keeping people closer to home at the start of the annual Thanksgiving rush. Even though gas prices fell and ...

BASIS POINT-Broadcast Australia in talks to refinance loan - Reuters
MELBOURNE, Nov 24 (Reuters Basis Point) - Communications infrastructure provider Broadcast Australia Pty Ltd has started preliminary discussions with its relationship banks about a new deal, sources said. The loan will replace the A$250 million ($157 ...

McCain's Mortgage Plan Calls for Lowering Rates for Homeowners - Bloomberg
McCain's Mortgage Plan Calls for Lowering Rates for Homeowners By Sharon L. Lynch Oct. 10 (Bloomberg) -- Republican John McCain 's plan to refinance distressed home loans includes cutting mortgage rates to just above 5 percent for troubled borrowers ...

Credit Crunch Video Gallery - CNBC
The Japanese economy is showing signs of a dramatic slowdown, economic data showed Friday. Jesper Koll, president & CEO ... Egypt to Weather the Turmoi... Egypt will weather the current period economic weakness because of its "very conservative ...

St. Louis Galleria could be forced to declare bankruptcy - KSDK
KSDK -- The owner of one of the biggest shopping malls in St. Louis could be forced to file for bankruptcy. General Growth Properties, which owns the St. Louis Galleria, has filed a statement with the U.S. Securities and Exchange Commission. The ...

Local mall operator says it's at risk for default - Boston Globe
The mall operator whose portfolio includes such local shopping centers as Natick Collection (above), Faneuil Hall Marketplace , and Providence Place warned that it faces solvency trouble. Shares of General Growth Properties Inc. fell yesterday after ...

Hillsborough County targets areas for housing rehab plan - St. Petersburg Times
PALM RIVER — Armando Celeiro came here from Cuba with $100 in his pocket. Forty-odd years later he's a furniture manufacturer and real estate investor, proud of his achievements and bullish on his community. Hillsborough County housing officials ...

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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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