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Truck accident closes Route 60 for two hours - Buffalo News
A section of Route 60 in Chautauqua County was closed for just over two hours at midday Tuesday, after a tractor-trailer slid into a ditch in wintry conditions, with the trailer blocking both lanes of traffic. Chautauqua County sheriff's officials ...

Corporate Hell-Raiser - Wall Street Journal
"It sounds corny, but it bothers me about the country. The country did a lot for me," Carl Icahn says. "I had nothing, I grew up in Queens, I was able to go to a good college, I made all this money. And I feel sad because you do have a great country ...

School for the blind starts visionary newsroom - Newark Star-Ledger
Ed Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...

Fear drives some NJ residents in presidential vote - Newsday
ROCKAWAY TOWNSHIP, N.J. - If there's one word that keep falling from the lips of New Jersey voters in this presidential election season, it's "scared." Many are scared of losing their jobs or their savings. Some are scared that Barack Obama is ...

So, What's The Story? - Wave of Long Island
We have heard of people in Rockaway achieving a Herculean task, registering hundreds of local people to vote in the upcoming election. We applaud a person who can register 250 or 300 new voters, as long as they are new voters and are qualified to ...

Events for November 15-17, 2008 - New York Observer
8:30 a.m. City Comptroller Bill Thompson will be among the speakers at Democratic State Senate Leader Malcolm Smith's first Annual Education Conference, held at the Far Rockaway Community Church of Nazarene, 1414 Central Avenue, in Far Rockaway ...

Bank of America Corp. - Chicago Tribune
NEW YORK (AP) _ Citigroup Inc. is shedding approximately 53,000 more employees in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt. The New York-based bank, which has already ...

Poll: Economy top issue in election for LI voters - Newsday
Francine Caruso wants a president who can "fix the economy" and it's not hard to see why. This year, she's lost her job, couldn't sell her Wantagh home, and watched her husband delay retirement as his portfolio lost $30,000 last week in the market ...

In a divisive campaign, voters united in fear - Asbury Park Press
ROCKAWAY TOWNSHIP — If there's one word that keep falling from the lips of New Jersey voters in this presidential election season, it's "scared." Many are scared of losing their jobs or their savings. Some are scared that Barack Obama is secretly a ...

Hanover mayor: 'Devastated' man tried to bribe me - Newark Star-Ledger
Michael Sesera was desperate. A failed convenience store deal had swallowed his life savings and he saw a last-chance solution. So the businessman stuffed $20,000 in a brown paper bag Monday, drove to the Rockaway Townsquare mall parking lot and ...

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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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