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Barack Obama has a head start on working with Congress - Los Angeles TimesReporting from Washington -- As chairman of his party's congressional campaign committee, Rahm Emanuel helped scores of current House Democrats win their seats. When Tom Daschle was the Senate Democratic leader, he funneled more than $1 million to a ...
Mortgage security rates fall after Fed action - Canton RepositoryNEW YORK Rates on Fannie Mae and Freddie Mac debt fell Tuesday — a promising sign that homeowners' mortgage rates could decline, too — after the Federal Reserve said it will buy up to $600 billion in mortgage-backed assets. The latest action by ...
Next mortgage crisis involves commercial properties - Canton RepositoryWASHINGTON The full scope of the housing meltdown isn't clear and already there are ominous signs of a new crisis — one that could turn out the lights on malls, hotels and storefronts nationwide. Even as the holiday shopping season begins in full ...
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 ...
Some residents live in fear of foreclosure - Register CitizenElizabeth Jamieson is a self-employed foreclosure inspector. Usually, an inspector visits 100 homes or so per month. Last month, Jamieson inspected 200 houses. “I am the first person who finds a vacant property. It’s an eerie sight,” she said ...
Home calendar - Detroit Free PressReal Estate Investors Association of Oakland County: Learn about the art of house-foreclosure short sales by Steve Dillon at 5:30 p.m. Dec. 11 at MSU Management Education Center, 811 W. Square Lake in Troy. $20 for nonmembers; free for members. 800 ...
Tragic year for family - Ashtabula Star-BeaconJEFFERSON — It was 5:30 a.m. on Black Friday 2007, and Vance Hinkle was a man on a mission. Armed with a shopping list and an infallible holiday spirit, Vance spent the day bargain hunting, gathering everything his four children wanted for ...
Why do we pay more than anyone else for gasoline? - VindicatorHaving noticed that gasoline prices here in the Youngstown area are always higher than prices everywhere else around us, I have been tracking prices in Cleveland, Columbus, Cincinnati, Akron-Canton, etc. for the past few years. Indications are that ...
A fighting chance - Baltimore SunFrom the skull on his shirt to his own gleaming noggin to the tattoo of a grinning demon on his enormous right biceps, John Rallo looks decidedly like someone you would never want to mess with. And that's part of the truth of his existence. He's ...
The iceman cometh for naught - San Francisco GateThat would be the 91,000 tons of ice cubes intended to cool food, medicine and sweltering victims of the storm. It would cost taxpayers more than $100 million, and most of it would never be delivered. The somewhat befuddled heroes of the tale will be ...
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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