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Business people in the news: Nov. 30 - Knoxville News SentinelRobert Breeden has received the Eastern Division President's Award for distinguished service from the Life Care Centers of America. He is executive director of the Heritage Center in Morristown. Darren Cardwell has been promoted to president and CEO ...
Reining in needless purchases can boost debt reduction plan - Bridgeton NewsSami, 44, is tired of being weighted down by debt. She knows her financial situation isn't pretty, and she wants to fix her past money mistakes and look to the future. "My goals are to reduce my debt, save for retirement, start investing, buy a house ...
Jurors hear confession tape in Randolph murder trial - Newark Star-LedgerAfter police caught Jonathan Zarate and two teen-agers trying to dump a trunk containing a Randolph girl's beaten and dismembered body into the Passaic River in Rutherford, Zarate told an investigator he had found his next-door neighbor dead. "I ...
Monmouth man pleads guilty to running mortgage, investment scams - Newark Star-LedgerThe mastermind behind a series of mortgage and investment scams that cheated at least 20 people - many of them elderly - out of $2.9 million faces up to 15 years in prison after admitting his crimes today. Spiro Pollatos, 46, of Marlboro Township in ...
Mortgage programs are helping New Jersey homebuyers get loans - Newark Star-LedgerIt's not impossible to get a mortgage -- even if you don't have a 20 percent down payment lying around and an 800 credit score. Surprised? So was 23-year-old Kerri Kushner who along with her boyfriend, 27-year-old Erik Richardson, bought a two ...
Rent vs. own … Do the math! - LeaderRUTHERFORD (Nov. 6, 2008) — Now may be the time to purchase that home you’ve been thinking about. Owning a home has historically been the single largest and most important investment most people will make. It has also been the safest long term ...
JOB QUEST 2008 ---- There's a new breed of worried job hunters in ... - Morris County Daily RecordHoward Corneilson, a computer systems executive, has been out of work before, and things were pretty bad a few years ago when he took a job at a supermarket working in the seafood section. But this time is different because his wife, a human resource ...
Decatur street musician ‘Guitar Red’ cuts his first CD - AccessAtlantaHe’s been a fixture for years on the Decatur Square and a few other corners around town, a homeless street musician recognized for his bluesy warbles, his wide grin with the missing teeth, his insistent personality, his messy arrests for public ...
Bill collectors get tough, and complaints surge - PantagraphNEW YORK -- After several years in which Americans were buying stuff on credit they couldn't afford, a rapidly increasing number are complaining about getting harassed and abused by bill collectors. Nearly 71,000 people filed such complaints with the ...
TVA CEO Tom Kilgore (Photo Courtesy: Tennessee Valley Authority) - WVLTNASHVILLE, Tenn. (AP) -- The Tennessee Valley Authority board has approved increasing the utility chief executive's compensation by nearly a half million dollars, and Congressman Jimmy Duncan, Jr., has sent a letter to the TVA board chairman ...
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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