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Cops: Retiree pulled pistol on repo man - Connecticut Post
MILFORD -- A city man, charged with pointing a gun at the tow truck driver trying to repossess his car, walked home Monday from Milford Superior Court with his wife, after she posted $15,000 bond to free him. Herbert Young, 66, of 125 North Ave ...

Sarasota man arrested in October armed robbery in Manatee - Herald Tribune
Allan Tolbert, 29, was arrested on a charge of armed robbery in the case; authorities say he was the driver who blocked the victims’ car from leaving during the robbery. At about 2:30 a.m. on Oct. 25, the two victims were in their vehicle at a stop ...

Sarasota man charged in Manatee armed robbery - Herald Tribune
Allan Tolbert, 29, was arrested on a charge of armed robbery in the case; authorities say he was the driver who blocked the victims’ car from leaving during the robbery. At about 2:30 a.m. on Oct. 25, the two victims were in their vehicle at a stop ...

Orange County: foreclosures 45% of inventory - Los Angeles Times Blogs
Foreclosed properties and "short sales" --homes for sale at less than the outstanding mortgage amount-- now comprise 45% of listings in Orange County, according to an analysis of listing data by Aliso Viejo broker Steven Thomas. Santa Ana remains the ...

Family of kidnapped Mexican woman suspects driver - Salon
Nov 26th, 2008 | MEXICO CITY -- A former Cabinet secretary whose daughter was kidnapped more than a year ago said Wednesday that his former driver may have been responsible and demanded authorities investigate, reviving a case that has fueled outrage ...

Accused drunken driver ends up running over self - Salon
Nov 26th, 2008 | SANTA FE, N.M. -- A man is in a northern New Mexico jail, accused of driving drunk and leading police on a chase that finally ended with him running over himself. Roy Travis Aguilar, 21, was treated for minor injuries at a Santa Fe ...

Citigroup Bailout May Assist More Homeowners - ABC News
The government's rescue package for Citigroup stipulates that the firm adopt the Federal Deposit Insurance Commission's mortgage modification plan to help struggling homeowners. FDIC chairwoman Sheila Bair, above, has previously said that the FDIC's ...

Wife of slain driver recalls horrific crash - Santa Cruz Sentinel
A Felton woman who survived a drunken-driving collision that killed her husband on Wednesday recalled the horrific crash Friday, as friends helped her begin to figure out how to live without her high school sweetheart and the family's sole ...

The city view - Kingfisher - Retail Bulletin
The broker is holding its full year 2008 pre-tax forecasts in place at £453 million despite the warning from Kingfisher management that more challenging times are ahead. A driver of this in the UK is the 43% deterioration in gross mortgage lending ...

GDP figures to show slowing economy - ninemsn
The Rudd government will get yet another indicator of the tough economic times on Wednesday with the release of September quarter growth figures. The national accounts data is expected to add to the gloomy picture of flat retail sales, falling ...

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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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