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Credit card companies quick to raise rates, fees - Atlanta Journal ConstitutionGreg Fischer was already fed up with Bank of America for doubling his credit card’s interest rate to 28.99 percent — the price for being a couple of weeks late with a payment in April. What sent him over the top, he said, was the bank’s ...
Home sales report shows drop in area - Index-JournalHome sales have had a significant decline in the Greenwood area over the past year. A monthly report released by the South Carolina Association of Realtors shows the Greenwood area, which includes Greenwood, Abbeville and McCormick counties, had a 35 ...
Sarasota man charged in Manatee armed robbery - Herald TribuneMANATEE COUNTY – A Sarasota man was charged in connection with an October armed robbery of two people who were held up at gunpoint while in their vehicle at a stop sign in South Manatee. Allan Tolbert, 29, was arrested on a charge of armed robbery ...
Sarasota man arrested in October armed robbery in Manatee - Herald TribuneMANATEE COUNTY – A Sarasota man was charged in connection with an October armed robbery of two people who were held up at gunpoint while in their vehicle at a stop sign in South Manatee. Allan Tolbert, 29, was arrested on a charge of armed robbery ...
The Gordian Knot of the Big Three Automakers - The Epoch TimesLast week’s hearings before the United States Congress did not address the real issues facing GM, Ford and Chrysler. There’s no question that bankruptcy in the auto industry would exact a heavy toll on the fragile U.S. economy. The Big Three must ...
Delta, Northwest airlines post traffic declines - Milwaukee Journal SentinelDec. 4, 2008 2:50 p.m. | Delta Air Lines Inc. today reported November traffic declines for both its Delta and Northwest Airlines units. For the Delta operations, revenue passenger miles in the United States dropped 10.5% compared to November 2007 ...
Detroit auto mess turns toxic - Detroit NewsShort of the subprime mortgage racket, perhaps nothing is more toxic right now than the Detroit car business. The begging for taxpayer cash in Washington, led by General Motors Corp., is in overdrive. The equity values of GM and Ford Motor Co. are ...
Washington bankruptcy filings rise 40% - Seattle TimesIndividuals and businesses who can't pay their bills anymore and can't sell off assets to pay their debts typically seek protection from creditors in bankruptcy court. The court can give them a fresh start by releasing them from personal liability ...
As the economy sinks, pawnshops get busy - Atlanta Journal ConstitutionJenna Feistkorn relinquished a working laptop for just $40. The exchange at an Alpharetta pawnshop left her frustrated, but not ashamed. She needs the computer to look for a job. But it will remain off-limits until next week, when her father gets ...
Obama’s first crisis: the economy - Atlanta Journal ConstitutionWASHINGTON — President-elect Barack Obama’s pre-inaugural “honeymoon” could turn into a major headache. Unlike those preceding him in office, Obama is being forced into swift action on the economy with a financial crisis and the specter of ...
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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