Elkhart Mortgage Rates and Information Online from competing Lenders

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Elkhart County salons offer discounts to the unemployed - 22 WSBT
Story Updated: Dec 2, 2008 at 11:46 AM EST ELKHART COUNTY — A group of barbers and hair stylists are offering discounted haircuts to the unemployed, even as their own businesses struggle to make ends meet. Elkhart and all of Elkhart County has ...

Economic Downturn Hitting Small Town America Hard - CBS 2 Chicago
ELKHART, Ind. (CBS News) ― Beyond Wall Street and Washington D.C., the current harsh economic downturn is having a troubling cascade effect in small towns across America. Rising unemployment, mortgage woes and troubles with credit are causing ...

The number of people filing for unemployment in the area has doubled. - WNDU
According to the state twice as many people have applied for unemployment benefits this September compared to last year in Elkhart and South Bend. That means five thousand more people in Elkhart and South Bend are filing for assistance. Long lines ...

It’s the first and only televised debate for Indiana's Second ... - WNDU
Saturday night incumbent Democrat Joe Donnelly squared off with Republican challenger Luke Puckett. Libertarian candidate Mark Vogel was not be there. It was an hour long debate aired on WNIT in Elkhart. Three panelists asked a variety questions ...

RV stocks dip under the dollar mark - 22 WSBT
Story Updated: Nov 24, 2008 at 12:05 PM EST ELKHART COUNTY — The closing bell showed two RV manufacturers — Fleetwood and Coachmen RV — closed under the dollar mark on the New York Stock Exchange Thursday. Stock watchers say the low numbers are ...

GOP questions Montagano’s finances - Goshen News
FORT WAYNE, Ind. — A Republican Party organization claims that Democratic congressional candidate Michael Montagano’s father has violated campaign financing laws by paying for his son’s living expenses. The National Republican Congressional ...

Economists say state's economic pain will last - Indianapolis Star
Two years ago, Mike Mowrey was pulling down $30 an hour as a model maker at Guide Corp. in Anderson -- enough to support his wife and two children and pay the mortgage on his Madison County house. But when the auto-parts maker, a former General ...

Governor announces plan to help with foreclosers - Hendricks County Flyer
Gov. Mitch Daniels announced this week that the state has developed a plan that will distribute $84 million to help cities and towns across Indiana buy abandoned or foreclosed homes, demolish or redevelop vacant properties, and help low- and moderate ...

Muncie-Based Bank Reports Drop in Income - Inside Indiana Business
Muncie-based MutualFirst Financial, Inc. (Nasdaq: MFSF), the holding company of MutualBank, is reporting third quarter net income of $359,000, compared to $1.2 million for the same time period last year. The company says the drop is primarily due to ...

'It hit everybody' - Hutchinson News
Most were just children at the time, coming of age amid the Great Depression. But the images of growing up poor during the worst economic times of the nation's history have stayed with this generation of Kansans all of their lives. Dust storms ...

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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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