Wayne City Mortgage Rates and Information Online from competing Lenders

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Mortgage crisis' next stage looms Owners of malls, hotels about to ... - FortWayne.com
WASHINGTON — The full scope of the housing meltdown isn’t clear and already there are ominous signs of a new crisis — one that could turn out the lights on malls, hotels and storefronts nationwide. Even as the holiday shopping season begins in ...

Wayne briefs - Detroit News
A Grosse Pointe Woods man was sentenced to two years' probation Wednesday after he pleaded guilty to a charge of false pretenses under $1,000. John Matouk, 42, was arraigned in May on fraud and forgery charges in connection with a real estate ...

John Steele refused help, and now he's gone - Baltimore Sun
J ohn A. Steele Sr. was cremated without ceremony. Only his estranged wife and children attended the brief service at the Charles L. Stevens Funeral Home in Locust Point . No words were spoken. No death notice appeared in the paper. No obituary was ...

More cuts and cash to come - Brisbane Times
THE Reserve Bank has not ruled out further rate cuts after it slashed 1 percentage point from borrowing costs yesterday, while the Government stands ready to rain more money on families. A household with a $400,000 mortgage will save $257 a month ...

Taxing situation - Evening Star
The future of Allen County’s two largest taxpayers is in doubt. General Growth Properties, which owns Glenbrook Square Mall, pays more than $5 million in taxes each year on the shopping center property, which is valued for assessment purposes at ...

Records: Sunday, Nov. 23 - Chippewa Herald
Powerball – Saturday: 17, 19, 26, 32, 45. PB: 14. PP: 4. Next drawing: Wednesday, $15 million. Megabucks – Saturday: 8, 29, 34, 38, 39, 46. Supercash – Saturday: 4, 6, 12, 20, 31, 35; Friday: 6, 7, 26, 28, 29, 38. Badger 5 – Saturday: 3, 9 ...

Detroit news in brief: Real estate scam means probation - Detroit Free Press
A Grosse Pointe Woods man accused of defrauding an elderly couple in a real estate scheme was sentenced Wednesday in Wayne County Circuit Court to two years of probation. John Matouk had pleaded guilty in October to the misdemeanor charge of false ...

Change credit card if not happy: Swan - ninemsn
Credit card holders should change institutions if they are not happy with the interest rate they are paying, federal Treasurer Wayne Swan says. Mr Swan said he was disappointed credit card providers had not reduced interest rates as much as mortgage ...

Two of the Big Four banks pass on the rate cut - News.com.au
WESTPAC and ANZ were playing scrooge last night, refusing to pass on the full recession-busting rate cut from the Reserve Bank. While Australia's two largest banks have passed on the full 1 per cent, Westpac and ANZ were not so kind, opting only to ...

$20.6 Million in Low Income Housing Tax Credits Will Create Jobs, Help ... - Earthtimes
LANSING, Mich. , Nov. 25 /PRNewswire-USNewswire/ -- Governor Jennifer M. Granholm today announced that over 2,100 units of affordable rental housing will be built or renovated for low to moderate-income Michigan families, the elderly, people with ...

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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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