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Business calendar - Buffalo News• The Kenmore-Tonawanda Union Free School District, medical secretary training orientation, 9 to 3 p. m., Monday-Friday, Philip Sheridan Building, 3200 Elmwood Ave., Kenmore. Free training to start in January for dislocated workers, the learning ...
More troubles awaiting ex-real estate agent - Herald NewsPATERSON — The former real estate agent who oversaw widespread mortgage fraud in Paterson is the target of dueling civil cases filed by his business associates and former investors. Michael Eliasof, who pleaded guilty in November 2007 to conspiracy ...
When life hands you lemons . . . - Crain's Chicago BusinessWhen Miguel Franchini, manager of Joliet Furniture Mart, struck a deal to buy the business from its elderly owner for $1.2 million, he shopped among local Will County banks for a loan. For two years, he didn't get much of a hearing. National City ...
Mojitos, salsa greet Cuba's 2 millionth tourist - Buffalo NewsCuba welcomed its 2 millionth tourist of 2008 on Friday with a salsa band, strong mojitos and word that the island expects to set a record this year for foreign visitors despite three hurricanes and a global economic crisis. Authorities hung a red ...
McCain must state obvious: Obama is a socialist (Commentary) - Globe GazetteAs John McCain tries to salvage his presidential campaign over the few weeks he has left, he ought to think about the Coca Cola Co. in 1985. That was the year that Coca Cola, based on what the company thought was good internal market research ...
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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