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News about Mortgages:
It's More Than a Mortgage - Washington PostMitchell Keiver, left, and Marc Laplante waited until they knew they'd be in the area long term before they went house shopping. They bought a rowhouse in Brookland. (By Susan Biddle -- The Washington Post) For Marc Laplante and his partner, Mitchell ...
Mortgage approvals hit record low - Guardian UnlimitedHouse prices: Decline is fuelled by a lack of liquidity in the mortgage market. Photo: Getty/Jeff J Mitchell The number of mortgages approved for house purchases fell to a record low in July and is down 71% on the same period last year, figures ...
New WaMu CEO called a savvy, scrappy exec - Seattle TimesAlan Fishman, the new chief executive of Washington Mutual, has seen this movie before: A solidly performing retail bank yoked to a floundering mortgage business. Back in the fall of 2003, when he was running Brooklyn-based Independence Community ...
Watchlist Sponsored By : - CNBCDiscussing the bailout add ons and when the Fed will step in and reduce the overnight lending rate, with CNBC's Steve Li... Europe Needs Alternative Ba... Europe will have to come up with its own financial bailout package, but it will be different to ...
Federal Reserve Video Gallery - CNBCDiscussing why now is not the time for a market bailout, with Knight Kiplinger, Kiplinger's Personal Finance editor-in-c... US Bailout Plan Unpopular The US bailout plan is taking a long time to pass because it's very unpopular and there's an ...
Support growing in Washington for reforms in mortgage rules - Baltimore SunSen. Barbara A. Mikulski, one of the first members of Congress to acknowledge the public's doubts about a $700 billion financial bailout, voted last night to approve the intervention. In a speech on the Senate floor before the vote, the Maryland ...
Americans abroad can vote online in Democratic primary - Chicago TribuneWant to ban dogs or renters in your community association? Want to reduce the number of board members or stagger their terms of office? Establishing these and other issues of policy and procedure means amending the association's declaration. That's ...
This article is no longer available online for free - Detroit NewsThe story you're attempting to open is no longer available in our live online system. It may have been moved, or may have expired. Expired stories, those more than 60 days old, may be searched using our paid archive search system powered by NewsBank ...
State probes Fossil Butte Drive mortgage-fraud allegations - Colorado Springs GazetteBelinda Gardner thought it was too good to be true when a mortgage broker offered to pay her $20,000 if she would buy a new house on Fossil Butte Drive in northeast Colorado Springs and promise to live in it, even though she had no intention of ...
Obama mocks McCain's call to fire SEC chairman - MSNBCSen. Barack Obama becomes the first African-American presidential nominee of a major political party. NBC's Andrea Mitchell reports. ESPANOLA, N.M. - Democratic presidential nominee Barack Obama promised new ideas Thursday to calm America's financial ...

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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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