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News about Mortgages:
Deeds Sept 21st thru 30th 2008 - Cecil WhigBertha J. Sager, Trustee, to Barbara S. Dean, George Street, Chesapeake City, $0, September 29. Bertha J. Sager, Trustee, to Barbara S. Dean, 43 Basil Avenue, Chesapeake City, $0, September 29. Jan A. Banker to Jan A. Banker and Fay Walker, 721 Bell ...
Deed transfers for the Dec. 1-28 edition - Star-BannerWarranty deed transfers in excess of $80,000 involving businesses as recorded at the Marion County Clerk of the Circuit Court's office from Sept. 29-Oct. 24. Compiled by Darrell G. Riley: Oct. 20-24: Steven Dube to S & S Group LLC. Marion County: $98 ...
Local business briefs -- 12/04 - Riverside Press EnterpriseRiverside-based Provident Financial Holdings, parent of Provident Savings Bank, announced Wednesday it will participate in a temporary new federal program aimed at boosting bank confidence by expanding deposit insurance coverage. A news release said ...
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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