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News about Mortgages:
Repossession rises to strain council housing supply - Watford ObserverA rise in the number of families losing their homes could lead to shortages of council housing, it has been warned. Officials at Three Rivers District Council have warned demand could easily outstrip supply if the economic downturn gets any worse ...
Niall Ferguson - Washington PostIn today's rocky financial climate, it is vital to understand how the global economy came to be. Harvard Business School professor Niall Ferguson was online Tuesday, November 25 at 10 a.m. ET to discuss his new book, The Ascent of Money: A Financial ...
I Thought of Sen. Dodd as I Wrote My Mortgage Check - Wall Street JournalRegarding your editorial " Dodd and Countrywide " (Oct. 10): You are aware, of course, that just about every salesperson on the planet tells his clients that they are getting a "special deal." Without evidence of bona fide special treatment, and more ...
SCREECHING TO A HALT - New York PostLast month, Chase froze my friend's credit line. Just like that, he lost access to the $70,000 he believed was still available to him on his $150,000 line. This was a sobering moment in a country where borrowed money has flowed like cheap wine at a ...
Union asks Disney to increase worker pay - Orlando SentinelZILINA, Slovakia (AP) _ Every 60 seconds, to a robotic burst of Mozart's Symphony No. 40, a new Kia sedan or SUV emerges from beneath a cascade of sparks at the South Korean carmaker's gleaming assembly plant in this northwestern town. Ex-communist ...
Zombies, Torture, Bloodsuckers - Huffingtonpost.comTrue Blood is not on right now, to the disappointment, not to say withdrawal symptoms, of the millions addicted to its veinous entertainment . HBO's vampire series is over for the season, not to return the Louisiana backwater where it's set until ...
How to sell your home in a buyer's market - AOLIf you're trying to sell a home in the current overstocked real-estate market, you already know that the days of white-hot bidding wars and quick-flipped condos are long gone. The National Association of Realtors says that 2008 home sales will be the ...
McCain breaks with Bush on N. Korea - Politico.comCalling the diplomacy hasty and incomplete, Sen. John McCain (R-Ariz.) is criticizing President Bush's decision to remove North Korea from the U.S. list of state sponsors of terrorism, as part of negotiations to get the rogue nation to give up ...
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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