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Richard Fuld punched in face in Lehman Brothers gym - Daily Telegraph
Mr Fuld, who has been testifying on the financial crisis before the US House Oversight Committee, was attacked on a Sunday shortly after it was announced that the banking giant was bankrupt. Following rumours that the incident had occurred, Vicki ...

Week of 'utter carnage' moves the crunch into the real world - Guardian Unlimited
It was a week when confidence in shares, markets and capitalism itself was shaken to the core as stock prices fell more sharply than at any time since the Great Depression. 'Utter carnage' is how one trader described events as he caught the train ...

Missouri man accused of drunken driving on a riding lawnmower - Minneapolis Star Tribune
Obama rejects McCain's mortgage buyup plan Galveston scrambles to heal beaches after Ike Man convicted of murder in Mo. 'Precious Doe' case Today on the presidential campaign trail Report: Both candidates increase health coverage IRON MOUNTAIN LAKE ...

New Blu-rays and DVDs include 'Iron Man' and Judd Apatow comedies - HamptonRoads.com
Best extra: It's a grab bag of goodies, but for me, the seven-part making of documentary certainly does not disappoint, especially in hi-def. “IRON MAN” IS A superhero movie that gets it absolutely right: smart script, great acting across the ...

Pressure mounts on Brown to protect ALL bank savings after Germany ... - Daily Mail
Pressure was mounting on Gordon Brown tonight to put unlimited guarantees on British savings after Germany became the third European country to make the drastic move. Germany announced on Sunday that it would guarantee all private bank accounts ...

Getting $700 billion bailout to begin working is next; goal is to ... - Orlando Sentinel
WASHINGTON (AP) _ Getting the financial rescue through Congress may have been the easy part. Getting it to work may prove the tougher task. After two weeks of anguishing debate, Congress passed and President Bush signed the enormous plan to save the ...

Commonwealth Agrees to Buy HBOS Plc's BankWest Unit (Update2) - Bloomberg
Oct. 8 (Bloomberg) -- Commonwealth Bank of Australia , the nation's biggest provider of mortgages, agreed to buy HBOS Plc's Australian units for A$2.1 billion ($1.5 billion) as the troubled U.K. bank sells assets amid the global credit crisis. Buying ...

Wall Street tumbles amid global sell-off - Daily News
NEW YORK (AP) - Wall Street tumbled again Monday, joining a sell-off around the world as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the U.S. and other governments. The Dow Jones industrials ...

Global money gloom: Your stories - BBC News
Recently I have seen lots of small businesses close. A friend of mine works for a small IT company. Because customers who owe money don't have the cash to pay, the company is going bankrupt. I have a fixed rate mortgage so I'm ok for the time being ...

Wildwoods wager - Bangor Daily News
Snowmobiling in Maine was such a draw to a Massachusetts couple that they pulled up their roots, left their lucrative jobs and plunged into the hospitality industry in this small Piscataquis County community. Through the Internet and with help from a ...

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Gile Hurley Iron Belt Mercer Montreal Saxon Upson

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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