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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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Monroe refinance mortgage news:
2008 (2665) - Dakota Voice► January 16 - January 23 (1) You don't see this kind of courage in a lot of adults, much less a 6-year old. From the Atlanta Journal-Constitution and ABC News comes word of a young boy who rescued his 5-year old friend from drowning. Josiah, who ...
Dingell: Bailout to help with daily business - Monroe Evening NewsU.S. Rep. John D. Dingell, D-Dearborn, acknowledged Wednesday that it's unclear how much or how long it might take to repair the financial system following Congressional approval of a $700 billion rescue plan. "The harsh fact of the matter is we ...
Poconos mortgage suit set for February - Allentown Morning CallA 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 ...
An Invitation to Our Readers - BusinessWeekEarlier this year, we launched a new and innovative feature on BusinessWeek.com to prominently highlight the insights of our readers. Called In Your Face , it calls attention to the most substantive comments left on our site by our readers. Not only ...
Foreclosure moratorium proposals stir debate - Oakland PressA proposed moratorium on foreclosures, advocated by Democratic presidential nominee Barack Obama and state Sen. Hansen Clarke, D-Detroit, is stirring debate. Obama’s economic plan would establish a 90-day moratorium on foreclosures for homeowners ...
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