Fairfax Mortgage Rates and Information Online from competing Lenders

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News about Mortgages:

Fitch Downgrades 3 Classes of GMAC 1998-C1; Assigns Stable Outlooks - Businesswire.com
NEW YORK--( BUSINESS WIRE )--Fitch Ratings has downgraded GMAC Commercial Mortgage Securities, Inc.'s commercial mortgage pass-through certificates, series 1998-C1 as follows: --$25.2 million class H to 'B' from 'BB-'; Outlook Stable; --$14.4 million ...

Fairfax man pleads guilty in $33 million mortgage fraud case - Fairfax Times
The multimillion-dollar Fairfax home of a Bollywood film producer who pleaded guilty last week to money laundering will be auctioned off to the highest bidder on Nov. 20. Vijay K. Taneja, 47, is charged with causing an accumulated loss of at least ...

Alexandria News - WTOP Radio
A federal grand jury has indicted a northern Virginia attorney for his alleged role in a large immigration fraud scheme. Home sales are up in Northern Virginia compared to a year ago. Realtors say the region's housing market is still volatile and ...

Credit card companies slash limits - Everett Herald
WASHINGTON -- Cecil Bello has stumbled into a new corner of the credit squeeze. The 32-year-old management consultant has had the limits reduced on three of her credit cards. In September, U.S. Bank notified the Fairfax, Va., resident that she no ...

Why GM Deserves Support - Wall Street Journal
Much has been said about the impact of the credit crisis on U.S. auto makers, and whether or not the government should assist the industry during this extraordinary financial turmoil. In these discussions, many critics simply ignore the substantial ...

USG Corporation Announces Agreement to Sell $400 Million of Contingent ... - Yahoo Finance
- Fairfax Financial Holdings to purchase $100 million CHICAGO, Nov. 21 /PRNewswire-FirstCall/ -- USG Corporation (NYSE: USG - News ), a leading building products company, reported today that it has entered into an agreement to sell a total of $400 ...

Business briefs - Chicago Sun-Times
Warren Buffett's Berkshire Hathaway will buy $300 million in convertible notes from Chicago-based wallboard manufacturer USG Corp., as part of USG's plan to raise $400 million by selling the notes. A second investor is Fairfax Financial Holdings of ...

Indian bound, gagged, shot, killed - Times of India
On a busy working day last month, amid the hurly-burly of the US presidential election and a steep economic downturn, 38-year-old Prashant Kumar locked up his home in a leafy Virginia suburb, put the keys in the mailbox, and took a cab to Washington ...

Cardholders squeezed as issuers cut credit limits - Los Angeles Times
Reporting from Washington -- Cecil Bello has stumbled into a new corner of the credit squeeze. The 32-year-old management consultant has had the limits reduced on three of her credit cards. In September, U.S. Bancorp notified the Fairfax, Va ...

Credit card holders squeezed as issuers cut credit limits - Los Angeles Times
Reporting from Washington -- Cecil Bello has stumbled into a new corner of the credit squeeze. The 32-year-old management consultant has had the limits reduced on three of her credit cards. In September, U.S. Bancorp notified the Fairfax, Va ...

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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