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Dubai property giant Nakheel sacks 15 percent of workforce - Lebanon Daily StarDUBAI: The Dubai property giant behind such grandiose projects as a 1-kilometer-high tower and artificial palm-shaped islands said on Sunday it has fired 500 staff as the global economic crisis begins to bite in the oil-rich Gulf. Government ...
Figure in mortgage fraud case pleads guilty - Boston Business JournalA North Andover, Mass., woman who was an unindicted co-conspirator in what the government alleges was an extensive mortgage fraud scheme pleaded guilty Tuesday in federal court to four counts of wire fraud. Elizabeth Son, 26, was a “straw” buyer ...
Murder victim’s kin spared foreclosure - EnterpriseTeenagers Danielle and Brittany Cann, who survived being shot in the head by their mother’s boyfriend in Norton 16 months ago, were spared the foreclosure of their family’s home at 574 Foundry St. this afternoon. Commonwealth Auction Associates ...
News of Record - Idaho Mountain Express12 Nov.-Hopkins Mortgage Fund vs. Michael A. and Elizabeth G. Hanley. For money owed. 13 Nov.-Hawley Troxell Ennis & Hawley vs. Ronald A. Achs and Amy E. Achs. For money owed. 13 Nov.-Joanne E. Zwingenberg vs. Doug and Andrea Radford. For restitution ...
$700B bailout needs better oversight - auditor - CNN MoneyNEW YORK (CNNMoney.com) -- The first official review of the federal government's $700 billion financial rescue plan said Treasury has yet to address "critical" oversight issues to ensure the plan is working. The Government Accountability Office's ...
Foreclosure filings on hold for 45 days - Mysuncoast.comSARASOTA - It's a ray of hope for homeowners who might be going into foreclosure. Governor Charlie Crist announced Monday an agreement for banks to hold off from filing foreclosures for the next 45 days. Florida has the country's third-highest ...
Defaults on prime loans spread - Idaho StatesmanBy this year, the bleeding housing market had drained the equity from Judy Jones' home in Murrieta, Calif. But her life still seemed secure. She had a government job, after all, and a 30-year fixed-rate mortgage at 5.875 percent, unlike the shaky ...
Day of Beauty - PopsugarDec 2 2008 - 2:30pm Whitney Port stopped to get a manicure and pedicure on Monday in LA. Link Time! 12/2 Privileged Rundown: Episode 11, "All About Love, Actually" Chuck Rundown: Episode Nine, "Chuck vs. the Sensei" Gossip Girl Rundown: Episode 12 ...
Eva and Her Friends Take the Wedding Party to Puerto Rico - PopsugarDec 2 2008 - 10:42am Eva Longoria was in Puerto Rico over the long Thanksgiving weekend, joining friends for the wedding of actress Roselyn Sanchez to Eric Winter. read more Link Time! 12/2 Privileged Rundown: Episode 11, "All About Love, Actually ...
Foreclosures, delinquencies skyrocketing among 'prime' borrowers - Los Angeles TimesBy this year, the bleeding housing market had drained the equity from Judy Jones' home in Murrieta, but her life still seemed secure. She had a government job, after all, and a 30-year fixed-rate mortgage at 5.875%, unlike the shaky, variable-rate ...
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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