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News about Mortgages:
New FEMA map would put hundreds of Waverly homes in floodplain - Papillion TimesWAVERLY - A Federal Emergency Management Agency (FEMA) five-year map modernization program is having a greater impact on the City of Waverly than anticipated. The map modernizations means changes to floodplain boundaries throughout Lancaster County ...
Mortgage-tax revenue slips down - Press RepublicanMALONE — Franklin County took in about $60,000 less than last year in mortgage-tax fees in its April-to-September billing cycle. But there was still more than $285,000 in property-transaction fees disbursed to its municipalities to spend. Under ...
Property Transactions - Daily Review & Sunday ReviewAlmer E. Finnerty and Mary Kathleen Finnerty to Deborah J. Finnerty of Burlington for property in Burlington Borough for $10,000. Lasalle National Bank, EMC Mortgage Corp, POA, Lasalle bank National Association to Robin L. Farley of Canton for ...
A place to call home - Star-GazetteWhen Telisa Craven moved into her first home, it was the fulfillment of what she calls her "biggest dream" -- a period of emotions so strong it often left her in tears. "There were lots of times every day that I cried because I was so happy that I ...
Cassidy: East San Jose neighborhood is ground zero for foreclosure ... - Silicon ValleyIf you want to see the havoc the mortgage meltdown has wreaked on everyday lives, forget about Main Street. Instead, take a walk with Dawn Brancaccio down Ceylon Avenue or Nassau Drive or Waverly Avenue near King and Tully roads in San Jose. Until ...
For sale, for less - Baltimore SunHalf the communities in the Baltimore metro area saw average home sale prices decline last year as the housing slump deepened. That's a big change from 2006, the first full year of the downturn, when prices were still rising in eight out of 10 local ...
Ben Bernanke Warns Hedge Fund Billionaires - FOX NewsHedge Fund billionaires are likely to purchase a piece of Mark Rothko's artwork, like this one entitled, "White, Orange and Yellow." The contemporary art auctions at Christie's and Sotheby's, scheduled for next week, are expected to be blockbusters ...
REAL ESTATE - News-Democrat• 2123 E. B St.; from Winter-Giess Partnership; to Kevin A. Bailey and Deloris Bailey; $27,500. • 2012 E. C St.; from Department of Housing and Urban Development; to Kenworth Clarence Johnston; $62,000 mortgage, but no sales price available ...
Childhood fascination with bridges leads to career as an engineer - Lansing State JournalWhen Amy Trahey finds herself sitting in a 10-mile traffic jam she doesn't get mad. She is intrigued. In September, Trahey, a civil engineer who owns a Lansing firm specializing in bridge design, construction and inspections, was on her way to ...
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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