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Improve Your Credit Score - ABC2 NewsIn these tough economic times, having a good credit score is more important than ever. But if yours isn't as high as you want it to be, there are ways to improve it. Just ask Dan Lewis. He’s the proud owner of a Harley Davidson. But for the longest ...
Mortgage Monday: Reverse Mortgages & Inauguration Rental - ABC2 NewsThe federal Housing Administration just announced they have raised loan limits for reverse mortgages. Carl Delmont talks with Megan about the new level of $417,000 and what the higher limit now means for home owners and buyers. He also answers a ...
Mortgage Monday: Credit Scores & Loans - ABC2 NewsEach week Carl Delmont, Freedmont Mortgage, tries to help viewers out when dealing with mortgages. Today, Carl chatted with Terry about the importance of high credit scores. Carl points out that even if you think you have a good score, with the ...
Mortgage Monday: Scams and Rates (10/13) - ABC2 NewsCarl Delmont, Freedmont Mortgage, once again was in studio, talking this time with Megan about scams that could affect those looking to refinance; why you could be evicted, even though you are paying your rent on time; and how mortgage rates are all ...
Real Estate Report: Doing the Fed limbo - 'How low can you go?' - Evening SunWednesday, as expected, The Fed cut the Federal Funds Rate 50 basis points to 1 percent. The last time the Fed Funds Rate was that low was 2003-04. As a result, banks will lower their prime rate to 4 percent which will offer significant savings to ...
Real Estate Report: What do those credit scores mean? - Evening SunSome are very clever and some prey on consumer fears of identity theft or a negative stigma associated with a low score. However, should you take advantage of their offers? Essentially, no. Nothing is free. You must subscribe to a monthly monitoring ...
Gabriella gets her wish to come home - Buffalo NewsFormer Hamburg resident Gabriella Hall, who’s all of 8 years old, knew exactly what she wanted when she had a chance to have a special wish granted by the Texas Wishing Well Foundation. The Texas girl wanted to return to Buffalo to skate with the ...
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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