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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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Stanislaus mortgage loan news:
Borrowers get a lifeline - Modesto BeeThe Sacramento Bee There may be a way out of trouble, after all, for thousands of Northern San Joaquin Valley borrowers struggling with risky housing-boom mortgages from Countrywide Financial Corp. A legal settlement announced Monday by Countrywide's ...
Sheriff in Ill. county won't evict in foreclosures - Modesto BeeBay Area hiker missing in Sierra found dead Stanislaus County authorities searching for honor farm escapee Modesto police seek 17-year-old boy in park shooting Driver in fatal crash arrested; Modestan killed Modesto Video King, 7-Eleven robbed 50 ...
Crisis Testimony - Modesto BeeSan Joaquin, Stanislaus and Merced counties have the highest foreclosure rates in the country, with more than 20,000 homes lost in a year. Reps. Dennis Cardoza and Jerry McNerney asked for a hearing to be held in Stockton to show just how bad the ...
Chris Satullo: Of Wall Street, moral hazard and our new fortune - Philadelphia InquirerThe dukes of moral hazard have had a rough few weeks. Some sit dazed and bleeding in the gutters of Wall Street. Some hang on, scared and chastened. As the agonies of financial behemoths grow - venerable Lehman Bros. nearly kaput, bullish Merrill ...
Rural communities hit hard by foreclosures, too; farms fall under the ... - AG WeeklyMERCED, Calif. - The end came in a blink outside the Merced County courthouse. Only six people showed up for the foreclosure auction, Janice Pimentel and her son Nick included. By chance, the Pimentels’ dairy farm was the first property offered ...
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