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Originally Posted by BlaqK20
Starting to make some sense out of it...
But I did run across a few more acronyms/terms that I still dont know what they mean.
I forgot the other ones, but one of them was LIBOR?
What does this and other similar terms like that above mean?
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LIBOR is simply and index often used in Adjustable Rate Mortgages. There are many, many different indexes that can be used, but LIBOR and Prime are the most common. Libor stands for London InterBank Offered Rate - and adjusts based on a huge variety of factors. The different indexes are often dependant of different factors, although on a large scale view they typically will follow each other - some faster than others.
Hope this helps a bit...