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News about Mortgages:
NEW ISSUE-India's HDFC to raise 7.5 bln rupees via bonds-source - Reuters IndiaMUMBAI, Sept 5 (Reuters) - Indian mortgage lender Housing Development Finance Corp (HDFC.BO: Quote , Profile , Research ) is selling bonds to raise up to 7.5 billion rupees ($169 million), a source close to the issue said on Friday. The issue has a ...
Navy Federal Slashes Mortgage Rates - Forbes5.625% 30-Year Fixed Mortgage up to $730K VIENNA, Va., Sept. 4 /PRNewswire-USNewswire/ -- Effective immediately, Navy Federal Credit Union is now offering its members some of the lowest rates nationwide for a wide range of Mortgage Products. For ...
Government may soon back troubled mortgage giants - Times UnionWASHINGTON -- The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the ...
Norwich Union to slash final policy bonuses by 10% - Times OnlineMore than 2.4 million Norwich Union with-profits policyholders will miss out on cash payouts averaging £2,000 after the insurer moved to cut its final bonus rates in the wake of tumbling markets. Norwich Union, owned by Aviva, said that it would be ...
Credit Union Australia passes on rate cut - News.com.auCREDIT Union Australia (CUA) will follow the big four banks in passing on the full 25 basis point cut to its standard variable mortgage rate following the Reserve Bank of Australia's (RBA) cut to the official cash rate on Tuesday. Australia's largest ...
Dare gets another 1 to 3 years - Times UnionALBANY -- Former Urban League president Aaron R. Dare was sentenced to 1 to 3 years in state prison Friday in connection with a shady property deal in the South End last year. The prison time will be added to his existing 63-month federal prison term ...
AP News in Brief - International Herald TribuneTropical Storm Hanna roars ashore near Carolinas border at start of wet run up East Coast MYRTLE BEACH, S.C. (AP) — Tropical Storm Hanna buffeted predawn tourist beaches on the North-South Carolina border Saturday at the start of a run up the ...
Warning as many use new mortgages to clear rising debts - IndependentShare HUGE numbers of people are now taking out new mortgages in a bid to pay off car loans, clear expensive credit card bills and get rid of credit union loans. New figures also show a large number of people are remortgaging to pay for home ...
Harriet Harman concedes economic gloom spells trouble for Gordon Brown - Daily TelegraphThe deputy leader backed Chancellor Alistair Darling's ominous assessment of the economy last week and admitted that Labour needed to "have a different conversation with the country now". She said: "When people feel that their lives are more of a ...
Andrew Johns talks of his 'dark places' of depression - News.com.auONE of rugby league's legendary figures, Andrew Johns, says he fears a high-profile player may attempt to take his own life because of the increasing pressures on footballers' public and private lives. In his first interview since disclosing his ...

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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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