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News about Mortgages:
Record 9% of Americans can't make home payments - Detroit Free PressWASHINGTON — More than 4 million American homeowners with a mortgage, a record 9%, were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis worsened, the Mortgage Bankers Association said today ...
The real cost - Boston GlobeA Roxbury woman who has been playing tug of war with her mortgage lender for more than a year finally lost the battle yesterday when she lost her home and four protesters were arrested. Fifty protesters chanted in front of Paula Taylor's slate blue ...
Unemployment climbs past 6 percent for 1st time in 5 years, raising ... - Minneapolis Star Tribune"Almost back to the unemployment rate Bush inherited..." Looking at the official BLS figures, we see: Carter inherited a 7.5% UE rate in … read more 1977. Reagan inherited a 7.5% UE rate in Jan 1981. GHWB inherited a 5.4% UE rate in Jan 1989 ...
GOP policies are far from fiscally responsible - Las Vegas SunI am so tired of Republicans’ labeling the Democrats as tax-and-spend liberals. Republicans apparently think all forms of taxation are evil and must be avoided at all costs. However, it seems they have forgotten that without some form of taxation ...
Lincoln ranked No. 1 in insurance sales - Evening StarThe organization formerly known as the Life Insurance Management Research Association ranked Lincoln National Corp. at the top of the industry in life insurance sales for 2007. The Philadelphia-based insurance and financial-services company does ...
EARNINGS POLL-Next's H1 profit fall to add to UK retail gloom - Guardian Unlimited* Underlying first-half pretax seen 14 percent lower * Will repeat downbeat assessment of second half and beyond * Dividend expected to stay at 18 pence LONDON, Sept 5 (Reuters) - British fashion retailer Next Plc is expected to report a 14 percent ...
European Stocks Retreat, Led by Barclays, Nokia, BHP Billiton - BloombergSept. 5 (Bloomberg) -- European stocks slumped to a seven- week low as a report showed U.S. unemployment climbed last month and concern mounted credit-related losses at banks will increase. Barclays Plc and UBS AG sank to the lowest in two weeks ...
All About Him - SlateMcCain Speech React: I predicted McCain's would be a good speech. Wrong again. That makes two successful conventions ending with weak final acts. 1) McCain screwed up what was potentially the most effective part of the speech, where he blames his own ...
From CFR: The Economy Vote - Washington PostFor starters, experts say, it's far too early to think the candidates can expect an easing of economic concerns. The Wall Street Journal reported August 26 that Sen. Barack Obama's (D-IL) ambitious economic agenda was increasingly coming into the ...
Money Matters: Switched-on consumer can save money - Scotsman.comSCOTS staying with their incumbent energy provider and not using direct debit could be paying an average of £519.47 more than they have to, following the latest round of energy price hikes. Energy prices have risen by over 40 per cent this year ...

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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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