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Trusting woman buys home, now faces foreclosure - Des Moines RegisterAfter living in homes owned by others for 50 years, Marlely Davis finally realized the American dream. She lived in her parents' home into her late 20s in Indonesia, tending to them while sewing curtains for money. She lived in rental homes in the ...
Home sweet home - Altoona MirrorDespite a shaky economy, local real estate agents say the local market remains fairly stable. For example, 125 homes were sold in August and September through the local multi-listing service, which includes Blair, Bedford and northern Cambria ...
You should get to know ... CARMIE RENDA - Des Moines RegisterOwner, Bordo's Eatery & Sauce, West Des Moines; owner, Olde Town Tap, Altoona; and vice president of Mortgage Loans, City State Bank, Norwalk Job description: As a loan officer, I help people accomplish their dreams of home ownership. I also find ...
Demolition halted; plans for site remain mystery - Tribune-DemocratEBENSBURG — Codes enforcement officials on Wednesday halted demolition of a building on land the state sold to Altoona-based developers. Meanwhile, long-term plans for the five-acre site near the intersection of routes 219 and 22 still are under ...
'Hope Now' Hot Line Frustrates Borrowers Needing Help Now - BusinessWeekA telephone hot line run by the Hope Now Alliance , a public-private partnership launched by the White House in October as a lifeline for homeowners facing foreclosure, appears to be leaving many callers more frustrated than hopeful. The hot line’s ...
Home Prices Across PA Tumble, Study Finds - Yahoo FinanceHARRISBURG, Pa., Sept. 9 /PRNewswire/ -- As policy makers in Washington, D.C., scrambled yet again over the weekend to contain our national financial crisis -- this time through a government takeover of mortgage giants Fannie Mae and Freddie Mac ...
RSS Feed: Local News - Tracy PressJust when I thought the presidential race was about to heat up in a good way, I learn that there are a few people out there who can’t stand the heat and just need to get out of the kitchen. It’s sickening how the John McCain/Sarah Palin double ...
Political Punch - ABC News BlogsJake Tapper is ABC News' Senior National Correspondent based in the network's Washington bureau. He writes about politics and popular culture and covers a range of national stories. Friday afternoon in Kettering, Ohio, Sen. Joe Biden, D-Del., took ...
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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