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IN BRIEF: News around Downriver - News-HeraldThe Detroit Zoo will be open from 10 a.m. to 4 p.m. daily through March 31, though it’ll be closed on Christmas and New Year’s Day. Winter visitors often find that when the temperature drops, many of the animals become more active outdoors. There ...
Business openings for Galveston County - Galveston County Daily NewsWHO: 3-Share Plan WHAT: Health benefits program WHERE: UTMB clinics in Texas City, League City and Friendswood; and UTMB Island clinic on Stewart Road in Galveston CALL: 866-607-0108 WHO: A B Sign Shop WHAT: Signs, banners, wide format printing, etc ...
November 2008 - Weekly StandardThe terror assault on Mumbai is in its second day as Indian security forces struggle to regain control of the capital and clear the remaining terrorists from two hotels and a residential complex. Hundreds of Indian Naval and National Security Guards ...
Voters say it was worth the wait - Detroit Free PressEvery parking space was filled at 7 a.m. at Pine Lake Elementary. West Bloomfield resident David Steuer arrived in a line that stretched past Miss Sally's Infant Room and the main hallway leading to the principal's office. "Four years ago I got here ...
Beaumont banks on $60-million fiscal plan - Detroit Free PressBeaumont Hospitals, long one of metro Detroit's most successful health systems, announced Monday a $60-million financial turnaroundplan, including layoffs, executive and physician pay cuts and placing holds on many suburban construction projects ...
Jaycees brave the cold to help the homeless - Daily TribuneROYAL OAK — Despite tarps, blankets and a bottomless cup of donated Starbucks coffee, Bob Doyle is braced for a long, cold night as he and other Royal Oak Jaycees get a feel for what it is like to be homeless. The community service group of 21- to ...
Oakland taps its first female prosecutor - Detroit NewsSOUTHFIELD -- Shutting down drug houses. Pursuing mortgage foreclosure cases. Revamping the Prosecutor's Office. Those are just a few of Jessica Cooper's goals in the aftermath of her victory over state Rep. David Law for Oakland County prosecutor ...
Michigan delegation tells Treasury Department to act now on auto help - Detroit NewsThe 17-member delegation sent a letter Thursday to Federal Reseve chairman Ben Bernanke and Treasury Secretary Henry Paulson urging them to use their authority to buy troubled automotive loans under the $700 million financial rescue package. Rep ...
Aid workers fear bloodbath in Congo as truce wavers - Times OnlineA humanitarian disaster was predicted by aid officials in Congo last night if a fragile ceasefire ordered by commanders of a rebel army fails to hold. Hundreds of thousands fled Goma, the regional capital, and the surrounding countryside in a mass ...
New economic stimulus plan gaining momentum - Oakland PressWith a faltering economy and a signal from the White House that it would consider another economic stimulus program, it’s increasingly likely Congress will go back for a lame duck session after the election, Oakland County lawmakers say. “The ...
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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