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Officials Vow to Act Amid Forecasts of Long Recession - The LedgerWASHINGTON — The United States economy officially sank into a recession last December, which means that the downturn is already longer than the average for all recessions since World War II, according to the committee of economists responsible for ...
Flip Flop Of Zach Wamp - And Response - ChattanooganI was reading in the Chattanoogan today the article where Comrade Wamp has “genuine remorse” about his voting for the federal sellout, excuse me, bailout of the home mortgage bank industry etc. What is his “genuine remorse” about? That is ...
(Corrects 30-year mortgage rate in 4th paragraph after BestInfo ... - ReutersWASHINGTON, Nov 25 (Reuters) - The Federal Reserve threw a massive life-line to U.S. consumers on Tuesday with two new programs aimed at making it easier for them to obtain loans for homes, cars and on credit cards. Squarely targeting slumping ...
Paulson Bucks Paulson as His Hedge Funds Score $1 Billion Gain - BloombergDec. 2 (Bloomberg) -- There’s not a lot of light in Paulson & Co.’s 28th-floor headquarters on a drizzly November afternoon. The Alexander Calder sculpture and multicolored prints have been shipped to the firm’s new offices six blocks south ...
Recent foreclosures filed in Madison County - TelegraphThese are mortgage foreclosure cases filed recently in Madison County Circuit Court. The information shown is the case number, the defendant, property address and date of court filing. Oct. 14 08CH1209: Kevin Alexander, Angela Alexander and Madison ...
Obama no manifestation of change - PresstvAlexander Cockburn the founder of Counterpunch website says Obama's new cabinet is made up of politicians who created the current economic mess. In an exclusive interview with Press TV correspondent, Cockburn said that president-elect Obama has named ...
Nov 30 - Dec 06 (83) - Andrewsullivan.theatlantic.comTa-Nehisi and Megan are debating whether Jindal is the "next Obama." Here's Coates: I've been pretty clear about my objection to hazy appeals to precedent, not out of any love for Obama, but because I think it's weak thinking. I don't like calling ...
Corrected: U.S. Throws New Lifeline To Stressed Households - Post ChronicleCorrects 30-year mortgage rate in 4th paragraph after BestInfo corrects figure. The Federal Reserve threw a massive life-line to U.S. consumers on Tuesday with two new programs aimed at making it easier for them to obtain loans for homes, cars and on ...
Former Clinton Treasury Secretary Turned Obama Adviser Was Paid Tens ... - CNS NewsRobert Rubin, a key economic advisor to President-elect Barack Obama and a former Treasury secretary (CNSNews.com) – Robert Rubin, a key economic advisor to President-elect Barack Obama who served as Treasury secretary in the Clinton Administration ...
Some strapped metro Atlanta homeowners get break - Atlanta Journal ConstitutionTim Collins finds himself living a national crisis. First he lost his job when his company moved. Then he fell behind in his mortgage and faced foreclosure. Now, he’s rebuilding his finances thanks to a last-minute deal with his mortgage company to ...

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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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