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News about Mortgages:
Foreclosure filings down, sales and underwater mortgages up - Northern Colorado Business ReportForeclosure filings down, sales and underwater mortgages upNorthern Colorado Business ReportIn related news, more than one-third of residential properties with a mortgage in Greeley were in negative equity at the end of 2009, according to real ...and more »
Bill gets bigger in mortgage fraud case - Greeley TribuneBill gets bigger in mortgage fraud caseGreeley TribuneA Weld District Court judge has ruled in favor of eight Greeley-area Latino residents in their civil rights complaints against owners of a former Greeley ...and more »
FDIC Auctions Overdue Loans of Silverton, IndyMac - BusinessWeekFDIC Auctions Overdue Loans of Silverton, IndyMacBusinessWeekThe biggest piece of the package is from New Frontier, the Greeley, Colorado-based lender that failed in April, according to a description posted by Mission ...and more »
Baby or Bust: Infertile Couples Turn to the Web to Raise Funds for IVF - DailyFinanceBaby or Bust: Infertile Couples Turn to the Web to Raise Funds for IVFDailyFinanceThe mortgage crisis has made it tougher for couples to refinance their home or take out home-equity lines, two options financial consultants used to ...

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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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