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News about Mortgages:
Lloyds TSB deal still on - HBOS - News.com.auBRITAIN'S biggest mortgage provider HBOS said the takeover of the bank by Lloyds TSB remained on, rejecting a report that the deal had collapsed. "The deal remains in place and is on track," said Shane O'Riordain, general manager of group ...
UK injects 37 bln pounds into major banks - Xinhua News AgencyLONDON, Oct. 13 (Xinhua) -- The UK government announced Monday that it would inject up to 37 billion pounds of taxpayers' cash into major banks -- Royal Bank of Scotland (RBS), Lloyds TSB and Halifax Bank of Scotland (HBOS). RBS will receive 20 ...
Financial crisis: Estate agents 'selling only one property a week' - Daily TelegraphThe price of new flats at this development in Larne, Northern Ireland, are being cut in half in response to the property crisis The survey by the Royal Institution of Chartered Surveyors (Rics) showed that house sales have dropped to their lowest ...
MPs to debate Brown's bail-out plan - Guardian UnlimitedNew laws to help stop more British banks going bust are due to be debated in the Commons as the Government continues its efforts to halt the worst effects of the credit crunch. MPs will discuss the Treasury's Banking Bill the day after a £37 billion ...
37bn taxpayer lifeline for banks - Guardian UnlimitedA £37 billion taxpayer lifeline was thrown to three of the UK's biggest banks in a bid to end the sector's turmoil. The government will take "significant" stakes in Royal Bank of Scotland, Lloyds TSB and Britain's biggest mortgage lender, Halifax ...
Britain financially may have saved the day - Detroit NewsOK, the question is premature -- we still don't know the exact shape of the planned financial rescues in Europe or for that matter the United States, let alone whether they'll really work. What we do know, however, is that Brown and Alistair Darling ...
Record Libor to boost mortgage defaults 10 pct-Citi - ReutersNEW YORK, Oct 7 (Reuters) - Defaults on U.S. adjustable-rate mortgages will likely jump by 10 percent based on the rise in short-term lending benchmarks to record levels, according to Citigroup Global Markets. Increases in London interbank offered ...
'Less than one home a week sold' - Croydon GuardianEstate agents are selling less than one property a week as prices continue to tumble, figures have showed. The Royal Institution of Chartered Surveyors said its members had sold an average of just 11.5 homes during the three months to the end of ...
Treasury Said to Invest $125 Billion in U.S. Banks (Update1) - BloombergOct. 14 (Bloomberg) -- The Bush administration will invest about $125 billion in nine of the biggest U.S. banks, including Citigroup Inc. and Goldman Sachs Group Inc., in the government's latest attempt to shore up confidence in the financial system ...
U.S. Treasury Said to Invest $125 Billion in Major U.S. Banks - BloombergOct. 14 (Bloomberg) -- The Bush administration will invest about $125 billion in nine of the biggest U.S. banks, including Citigroup Inc. and Goldman Sachs Group Inc., in the government's latest attempt to shore up confidence in the financial system ...

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Today's Mortgage Terms starting with C
Cash To Close: Liquid assets that are available on hand for payment of closing costs involved in the processing of a mortgage transaction.
Closing: The completion of a real estate transaction. The closing includes the delivery of a deed, financial adjustments, signing of notes and disbursement of funds required to finalize the sale and loan transaction.
Closing Costs: Fees generally paid by the borrower in relation to the closing of a mortgage loan.
Collateral: Property pledged as security for a debt.
Conforming Loan: Conventional home mortgages eligible for sale and delivery to either the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC). These agencies generally buys first mortgages up to loan amounts approved by Congressional directive.
Conventional Loan: Loans that are not part of any government housing program, free of any restrictions of government insured housing programs, such as loan size limits.
Conversion Clause: A feature in certain ARMs that gives you the option to convert the variable rate loan to a fixed-rate loan, usually after the first adjustment period. The new fixed rate will be set at current rates and there could be a fee for the conversion feature.
Convertible ARM: A type of ARM loan that can be converted to a fixed-rate loan after a certain time period.
Covenant: A clause in a contract that obligates or restricts the parties and if broken, can result in a legal action.
Credit Bureau: It is a clearinghouse for credit history information.
Credit Report: A report containing a detailed credit history of an individual.
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