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News about Mortgages:
San Francisco - Orlando SentinelReported incidents of mortgage fraud grew by 45 percent in the second quarter compared to the year-ago period, as borrowers misstated their financial information to maneuver around tighter lending standards, industry data released Tuesday showed ...
Ribadu: End of the road? - VanguardSeveral issues competed for attention in this column this week. Of these two stood out: the untimely and unnecessary death in some of Nigeria’s best hospitals of about forty infants who took the diethelene glocol-contaminated syrup, ‘My Pikin ...
Fashola and Soludo:Yes we can - VanguardAMERICANS regard their nation as 'God’s own Country'. They appear justified. Even when things get awful, something, somewhere appears profoundly in their favour to renew and reinvigorate their nation. In September, for example, Iranian President ...
N.J. shoppers line up for 'Black Friday' - Newark Star-LedgerThere were still traffic jams, long lines before dawn and shoppers who made three trips to their car to unload purchases before lunch-time, but the Black Friday shoppers streaming into stores today were determined not to overspend. Diane Knoblock has ...
Grey Bruce Poetry Project - Owen Sound Sun TimesWelcome to the Poetry Project - a place to share your poetry and to enjoy the many voices of our community. Take a look at our community forum for Grey/Bruce poets. Submit your poems. Add links to your favorite poetry sites. Load up audio or videos ...
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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