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Business Highlights - ForbesWASHINGTON (AP) - U.S. automakers drew fresh skepticism from lawmakers Thursday in a rocky confrontation over their pleas for an expanded $34 billion rescue package they say they need to survive. Congressional analysts said one bailout plan under ...
Countrywide to refund $11.5 M to NC borrowers - Rocky Mount TelegramRALEIGH, N.C. — Two subsidiaries of Countrywide Financial Corp. have agreed to repay more than $11 million to nearly 5,000 North Carolina borrowers who were overcharged on their mortgages, the state banking commissioner said Thursday. Countrywide ...
Moore vs. Cooper? Dispute hints at politics ahead - Rocky Mount TelegramRALEIGH, N.C. — An ongoing quarrel between Attorney General Roy Cooper and State Treasurer Richard Moore may be more than just two agencies vying for power: It could foreshadow a coming Democratic primary to challenge Republican Sen. Richard Burr ...
Trial strains the hope of a prisoner's wife - Los Angeles TimesFilling her time while in California to visit her husband, Robert, at Pelican Bay State Prison, Pamela Griffin walks along the rocky coastline not far from the Oregon border. Pamela Griffin long imagined her husband, Robert Griffin, getting out. His ...
New home construction hits a wall - Raleigh News & ObserverPermits for new homes are lowest in a decade; the drop foreshadows job and revenue losses Triangle homebuilders are parking their bulldozers as sales of homes in the region continue to plummet -- a trend that could mean more job losses and tighter ...
Real-Time News - Newark Star-Ledger• Football: Millburn plays Madison during their Thanksgiving game • Football: Millburn plays Madison during their Thanksgiving game • Football: Millburn plays Madison during their Thanksgiving game They met as teenagers, finding a common bond ...
November 2008 - Weblogs.baltimoresun.comIn an analysis of TV journalism on Wednesday night, I wrote that a red-ball event like the terrorist attacks in Mumbai often provided a great look into a news oganization. But in expressing my dismay at the way MSNBC couldn't let go of the comedic ...
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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