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News about Mortgages:
With Rates This Low... - Wall Street JournalThe Treasury Department is considering a plan to push down 30-year fixed-rate rates for home purchases to as low as 4.5%, in the hopes that it will stimulate sales, stop the freefall of prices, and allow homeowners to afford bigger loans. But the ...
Treasury weighs forcing down mortgage rates - Buffalo NewsWASHINGTON — The Treasury Department is strongly considering a plan to intervene directly into the mortgage industry to dramatically push down rates and stimulate the moribund housing market, according to sources familiar with the proposal. Under ...
Nov 30 - Dec 06 (178) - Andrewsullivan.theatlantic.com[W]hat about a grand bargain? In return for not having a vote in Congress, how about abolishing the federal income tax for DC residents? I suspect there are many who'd be all in favour of that. And of course such a move would do more to repopulate ...
The shifting North American Unionized Map - Canada Free PressFirst came the election of an unknown; a man only whose globalist elite masters know where he was born and in which direction he will be taking the liberty-loving United States of America. Less than one month later, the proud Dominion of Canada is ...
Ex-Panther Joel Ward fits in with Predators - Prince Edward Island GuardianJoel Ward, who salvaged his pro hockey career with a brilliant four-year stint here with the UPEI hockey Panthers, is taking a regular shift with the NHL’s Nashville Predators and loving every minute of it. The talented ex-Panther has three goals ...
Low Treasury yields mean savers see meager returns - Buffalo NewsTreasury yields, some of the most sensitive barometers of investor sentiment, keep dropping to new record lows as a torrent of bad economic news continues. But as investors send yields down, they're also influencing the economy - driving interest ...
Meyerson: Americans are already looking past Bush - Record SearchlightAs he prepares to move back to Texas, our 43rd president is the beneficiary of Bush fatigue. The nation has long since repudiated him. Americans are looking ahead to the promise of Barack Obama. And it's lucky for George W. Bush that they are ...
Ten ways to save money in Sweden - LocalFrom cheap dates with movie stars to the latest free music service, Thanh Dinh has some great tips for biting back at the credit crunch. Carnegie to be broken up for eventual sale (21 Nov 08) Sweden may change bank loan guarantees (20 Nov 08) Sweden ...
Voice of the People - Chicago TribuneThis is in response to "Unfair request" (Voice of the People, Nov. 23), by letter writer Jerry Schneider. I have to say my husband and I agree 100 percent with his comments. We, too, made sure we purchased a house we could afford in case one of us ...
Taylor Armerding: 'Free market' never had a chance - Newburyport Daily NewsI keep hearing that our current economic meltdown is proof that the "free market" doesn't work. Oh, please. Since when have we had a truly free market? If our current troubles prove anything, it is that the free market hasn't been given a chance 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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