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When the Downturn Sailed Into Savannah - Gainesville SunSAVANNAH, Ga. Click to enlarge A container ship passes through Savannah, Ga. The nation’s economic downturn has begun chipping away at expansion and prosperity in this port city, dimming a 20-year boom. Stephen Morton for The New York Times DOZIER ...
Auditors: Not enough oversight for bailout - MSNBCDec. 2: The nation's governors pressed President-elect Obama for their own bailouts Tuesday as state budgets across the country have hit a wall. NBC's Savannah Guthrie reports. WASHINGTON - The government must toughen its monitoring of the $700 ...
New crisis in commercial real estate looms - MSNBCNov. 26: President-elect Barack Obama announced a new Economic Recovery Advisory Board to be headed by former Fed Chairman Paul Volcker. NBC's Savannah Guthrie reports. WASHINGTON - The full scope of the housing meltdown isn’t clear and already ...
For the jobless, Christmas turns a little blue - Charleston Post & CourierThey had envisioned a different holiday season. But after being laid off, some of the dozens of people filing for jobless benefits Wednesday at the Employment Security Commission said that their holiday gift-giving would reflect their reduced ...
Happiness conference convenes in San Francisco - International Herald TribuneSAN FRANCISCO : The stock market has been on a roller coaster, banks are going under, unemployment is skyrocketing and foreclosed homes pepper the landscape. What better time for a happiness conference? In this dopamine-laden city, where the pursuit ...
Even if you can't buy it, happiness is big business - International Herald TribuneSAN FRANCISCO : The stock market has been on a roller coaster, banks are going under, unemployment is skyrocketing, and foreclosed homes pepper the landscape. What better time for a happiness conference? In this dopamine-laden city, where the pursuit ...
Westin Resort & Spa owner may default on bank loan - Island Packet OnlineThe owner of The Westin Resort & Spa, one of Hilton Head Island's largest oceanfront hotels, is in danger of defaulting on a multi-million dollar loan it took out to finance improvements at the 412-room property and at another hotel in Arizona ...
City Ballet celebrates whopper of a gift - SalonNov 27th, 2008 | NEW YORK -- Next time you're looking for a place to donate $100 million, consider a theater: Such a sum can get you the best pair of seats, any night you want them, for the rest of your life. That's what New York City Ballet chief ...
The pursuit of happiness is big, serious business - Taipei TimesThe stock market has been on a roller coaster, banks are going under, unemployment is skyrocketing, and foreclosed homes pepper the landscape. What better time for a happiness conference? In this dopamine-laden city, where the pursuit of well-being ...
'The Greatest Generation’ saves the environment - Ahwatukee Foothills NewsWith millions of baby boomers racing toward retirement, you might think it's time for their parents, "The Greatest Generation," to fade into the sunset. Not so fast! All you folks in your 70s, 80s and up can make one more contribution to one more ...
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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