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Pros and cons of an adjustable-rate mortgage

Published Fri, 22 Nov 2024 07:23:35 GMT

TJ Porter | Bankrate.com (TNS)Say “mortgage,” and most people think of a fixed-rate, long-term loan. While that’s certainly the most popular variety, it’s not the only home loan in town. For some aspiring homeowners, an adjustable rate mortgage might be a better option.Adjustable-rate mortgages (ARMs) often appeal to homebuyers due to their initially low interest rates. But all good things come to an end, and you can get a nasty shock when the rate adjusts, and your monthly payments increase — often dramatically.So it’s crucial to understand the overall pros and cons of ARMs and how they work. Forewarned is forearmed, after all.How does an adjustable-rate mortgage work?An ARM is a 30-year adjustable-rate mortgage that has an initial fixed interest rate period — three, five and seven years are especially popular. Once that period ends, the interest rate adjusts each year (or possibly six months) after that.When this adjustment occurs, the interest that accrues on your loan is recalcu...

Accused military secret leaker Jack Teixeira seeks private attorney on court’s dime

Published Fri, 22 Nov 2024 07:23:35 GMT

The public defenders representing accused military secrets leaker Jack Teixeira have filed a motion for their client to be appointed additional representation at taxpayer expense.Brendan Kelley and Allen Franco, both of the federal public defender office in Boston, wrote in a Friday filing that their client Jack Teixeira “is currently charged by complaint with offenses under the Espionage Act, the complexity of which this Court is aware.”They added that during his initial appearance in federal court in Boston, “the Court reviewed Mr. Teixeira’s financial affidavit and determined he qualified for court-appointed representation.”Teixeira, either 21 or 22, of North Dighton, is a Massachusetts Air National Guard serviceman charged with leaking highly sensitive military secrets to an online forum dedicated largely to the gaming community. He was arrested on April 13.He was charged on April 14 with unauthorized retention and transmission of national defense information and unauthorized re...

College student accused of setting fire to Wyoming’s only abortion clinic pleads not guilty

Published Fri, 22 Nov 2024 07:23:35 GMT

CHEYENNE, Wyo. (AP) — A college student who authorities say admitted setting fire to a building slated to become Wyoming’s only full-service abortion clinic pleaded not guilty to an arson charge in federal court on Friday. Standing next to her lawyer, Lorna Roxanne Green, 22, entered her plea after calmly answering questions from the judge about whether she understood the proceedings and why she had been indicted. She answered “no” to whether she had any mental or physical conditions that would make it difficult to understand what was happening as her father watched from the front row of court.Green told investigators that she opposes abortion and was experiencing anxiety and having nightmares over the Wellspring Health Access clinic that was to open in Casper, Wyoming, last year, so she decided to burn it, according to court documents. After the court hearing, Green’s lawyer, Ryan Semerad, declined to comment on the confession outlined by investigators. He said he needs...

Trudeau raises Poland’s democratic backsliding as prime minister visits Toronto

Published Fri, 22 Nov 2024 07:23:35 GMT

OTTAWA — Prime Minister Justin Trudeau says he raised concerns about reports that LGBTQ rights and democracy are under threat in Poland during a Friday visit with its prime minister, Mateusz Morawiecki, in Toronto.The visit comes amid unprecedented economic and military collaboration between the two countries.“I certainly raised concerns that we have around some of the reports coming out of Poland around LGBTQ rights, around democracy, and we had a frank conversation, as must be the case,” Trudeau told reporters Friday.His comments come amid rising concern about free speech and elections due to policies enacted by Morawiecki’s government.The country recently passed a law that will create a commission to probe alleged Russian interference in the country. Academics and civil-rights groups say the mandate is so vague that the panel of mostly government MPs will be used to attack opposition parties.“It threatens, for sure, not only the electoral process but also ...

Tropical Storm Arlene, 1st of season, forms in Gulf of Mexico

Published Fri, 22 Nov 2024 07:23:35 GMT

MIAMI (AP) — Tropical Storm Arlene, the first named storm of the Atlantic hurricane season, formed Friday in the Gulf of Mexico on a track taking the cyclone south toward the western tip of Cuba.National Hurricane Center forecasters said in a 1:30 p.m. advisory that Arlene had sustained winds of 40 mph (65 kph) and was located about 265 miles (425 kilometers) west of Fort Myers, Florida. It’s moving south at about 5 mph (7 kph).No storm watches or warnings have been posted for Cuba or Florida. Forecasters say the storm could fall apart before reaching any land.Tropical storms have winds of at least 39 mph (63 kph); anything 74 mph (119 kph) or higher is designated a hurricane.The Atlantic hurricane season officially began Thursday and runs through Nov. 30. Last year’s season had 14 named storms, with extensive damage caused by Hurricanes Ian, Nicole and Fiona.The Associated Press

People trapped after building partially collapses near Yale campus

Published Fri, 22 Nov 2024 07:23:35 GMT

NEW HAVEN, Conn. (AP) — New Haven firefighters and other authorities responded Friday to reports of a partial building collapse with people trapped a few blocks away from Yale University.Few details were immediately available.Initial information indicated there was a partial collapse of a building under construction on Lafayette Street and some people were injured, said Lenny Speiller, a spokesperson for Mayor Justin Elicker.Police and fire department officials were not immediately available for comment.Multiple ambulances were at the scene. TV news video showed first responders removing one person from the scene on a stretcher.The Associated Press

Mississippi absentee ballot law harms voters with disabilities, lawsuit says

Published Fri, 22 Nov 2024 07:23:35 GMT

JACKSON, Miss. (AP) — Mississippi’s new restrictions on absentee ballots could disenfranchise voters who have disabilities by preventing them from receiving help from people they trust, according to a lawsuit that seeks to block the restrictions.The law — set to take effect July 1 — sets a short list of people who can “collect and transmit” an absentee ballot. The list includes employees of the U.S. Postal Service or other mail carriers, plus any “family member, household member or caregiver” of the person receiving an absentee ballot.The lawsuit was filed Wednesday on behalf of Disability Rights Mississippi, the League of Women Voters of Mississippi and three residents of the north Mississippi city of Okolona. The plaintiffs are represented by attorneys from the American Civil Liberties Union, Disability Rights Mississippi, Mississippi Center for Justice and Southern Poverty Law Center.“Every voter in the state of Mississippi has the right to participate in their democr...

Post-mortem exams being performed on 2 dead whales seen floating off New York this week

Published Fri, 22 Nov 2024 07:23:35 GMT

SOUTHAMPTON, N.Y. (AP) — Two dead humpback whales were spotted floating in the waters off New York this week, officials said, part of a troubling rise in whale deaths in the region.Necropsies were being performed Friday to determine what killed the two whales that were first seen Wednesday, one off eastern Long Island and one in Raritan Bay between New Jersey and the New York City borough of Staten Island.The Long Island whale was spotted Wednesday about five miles (eight kilometers) off Wainscott, New York, National Oceanic and Atmospheric Administration fisheries spokesperson Andrea Gomez said.Southampton town police reported Thursday that the whale had floated into Shinnecock Bay. Police and staffers from NOAA and the Atlantic Marine Conservation Society worked to secure the animal to the beach front and then drag it onto the shore where the necropsy could be performed, Sgt. Eric Sickles said.Also on Wednesday, the Atlantic Marine Conservation Society received a report of a dead ...

Federal government lawsuit accuses Wisconsin town of trespassing on tribal reservation

Published Fri, 22 Nov 2024 07:23:35 GMT

MADISON, Wis. (AP) — The U.S. Department of Justice has filed a lawsuit to force a northern Wisconsin town to pay unspecified damages for failing to renew access easements on American Indian tribal land.U.S. Attorney Timothy O’Shea filed the action in Madison on Wednesday seeking a declaration that without easements the town of Lac Du Flambeau is trespassing within the Lac Du Flambeau Band of Lake Superior Chippewa’s reservation. It seeks unspecified damages.The town’s attorney, Greg Harrold, didn’t respond to an email from The Associated Press seeking comment Friday.The lawsuit opens another front in a long-running legal dispute between the town and the tribe. According to court documents, the tribe granted the town road easements within it’s 86,600-acre reservation in the 1960s. The easements enabled non-tribal people to move within the reservation and build homes there.The easements expired about 10 years ago, however, and the town and tribe have not...

Warrant issued after man beaten, stomped in Munster Taco Bell parking lot

Published Fri, 22 Nov 2024 07:23:35 GMT

MUNSTER, Ind. — A warrant was issued after a man was seemingly beaten at random outside of a Taco Bell in Northwest Indiana.On May 4 at around 2:40 p.m., a witness reported to police he observed a man being kicked in the head in the parking lot, located in the 7900 block of Calumet Avenue in Munster, and the suspect fled in a burgundy 2016 Ford Fusion.The victim, who requires around the clock care due to a neurological problem, told police he had no recollection of what happened.During the course of the investigation, police identified a suspect through surveillance footage.Dominique Jones, of Chicago, was seen arguing with a woman he was with at a nearby Target, according to court records. A short time later, the two are seen in the parking lot of the aforementioned Taco Bell with the woman driving.Jones is seen attempting to block the car from driving away when the victim was walking nearby, documents state. Police: Crown Point man followed home from casino, robbed at gunpoint J...