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News about Mortgages:
Homebuyers turn screws on desperate sellers - CNN MoneyNEW YORK (CNNMoney.com) -- A rock-bottom price just isn't enough for buyers these days - it's a starting point. If the furnace is out of date, they'll demand a new one. Cracked driveways have to be repaved, and dirty carpeting torn out and replaced ...
Pension Funds Watch Fannie, Freddie - Wall Street JournalSome of the largest public pension funds hold millions of shares of Fannie Mae and Freddie Mac, largely in passively managed investments. They are watching closely as Treasury Department officials consider whether to step in to help the mortgage ...
Aluminum maker unlikely to move to Vancouver, Wash. - Seattle TimesThe aluminum-fencing and bike-frame maker that earlier this year considered a move to the Port of Vancouver will probably not bring 800 jobs to Clark County, those familiar with the business confirmed on Monday. "The economics make it less likely ...
Judge Says No Time to Clarify Payday Lending Ballot Summary 400 ... - CNBCPHOENIX, Aug 27, 2008 /PRNewswire-USNewswire via COMTEX/ -- Superior Court Judge Sam Myers ruled today that Secretary of State Janice Brewer does not have to clarify the language summarizing a payday lending-industry backed measure that will appear ...
Judge Says No Time to Clarify Payday Lending Ballot Summary - ForbesPHOENIX, Aug. 27 /PRNewswire-USNewswire/ -- Superior Court Judge Sam Myers ruled today that Secretary of State Janice Brewer does not have to clarify the language summarizing a payday lending-industry backed measure that will appear on the ballot ...
Sunwest tries to assure residents it is financially sound - OregonianSunwest Management Inc., the giant Salem-based senior housing provider, is facing significant financial hurdles, including $1.8 billion in debt, an increasingly jumpy group of lenders and a housing slump that has forced some seniors to postpone ...
Harbor is a “crisis area” - Daily WorldThe foreclosure crisis afflicting the nation is hitting Grays Harbor hard. The state Housing Finance Commission has designated Grays Harbor County as one of the state’s crisis areas for home foreclosures, qualifying the county for additional state ...
Business Notes - Lexington Herald-LeaderMcDonald, Rankin named to Churchill Downs board Churchill Downs Inc. named two new board members on Wednesday. James McDonald, chairman, president and CEO of cable system provider Scientific Atlanta Inc., and insurance broker and horseman Alex Rankin ...
Finalists named for 2008 Copper Cactus Awards - Daily TerritorialFinalists have been named for the 11th annual Wells Fargo Copper Cactus Awards, Southern Arizona’s oldest and largest awards program honoring excellence in small business. The dinner and awards presentation announcing the winners will be Oct. 2 at ...
Winners' bracket finals set - Monroe Evening NewsPete's Garage/Boyd's Trucking and Friendly Ford each won a pair of games Tuesday night to move into the winners' bracket finals in the Monroe Men's Postseason Softball Tournament at Munson Park. Pete's/Boyd's scored three times in the bottom of the ...

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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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