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'The economy just fell apart and people really need cash' - Batavia SunRandy Cohen, co-owner of a South Loop pawn shop, has never seen anything like the current parade of cash-strapped customers forced to sell their stuff. ''Anything people can possibly get ahold of to bring in to pay their mortgage and get gas in the ...
Residents in new subdivisions see high turnover, vacancies - Newark AdvocateNEWARK -- New subdivisions are known for a clean look, new roads, young families and few trees. Now, you can add real estate signs, vacant homes and vacant lots. Residents of the Potters Grove housing development, off Price Road in north Newark, know ...
Our troubled economy - Minneapolis Star TribuneAt six Twin Cities Denny Hecker dealerships where banners and balloons typically beckon would-be car buyers, all was quiet Saturday. Vehicles at the Denny Hecker Hyundai lot in Roseville had been put to a new use -- blocking off the entrances. The ...
Deed Transfers for Oct. 13-24, 2008 - Star-BannerWarranty deed transfers in excess of $80,000 as recorded at the Marion County Clerk of the Circuit Court's office from Oct. 13-24: Grace Y. Newsum Trust to Mary Ruth Cohey Ammerman. Spruce Creek South: $170,000. Donald Overly to Margeretta Overly ...
Weekend Update: Seeking permanence in foster care - Cumberland County SentinelThe goal is clear, and everyone involved agrees on it: Children in the foster care system should end up with a permanent, safe family. But when it comes to assessing how an agency performs in relation to that goal, things get murkier. Last week ...
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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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