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House to vote on whether to keep DiMasi as speaker - South Coast TodayMan dies after fall through ice in Middleboro Mass. man one of first to get marijuana fine Man arrested for stabbing in Lakeville (1 p.m.) For uninsured, penalties go up in 2009 Making his case New Bedford man sentenced to prison for attempting to ...
Census findings: Edina isn't so rich, and other surprises - Minneapolis Star TribuneA Metropolitan Council analysis of three years of U.S. Census Bureau data from 2005 to 2007 provides some revealing and surprising details about 41 Twin Cities communities. Edina isn't as rich as you think. Eden Prairie isn't swamped with seniors ...
2008 The Year in Review, - Manhasset PressNassau County District Attorney Kathleen Rice announced that David Wasserman, 49, of Roslyn, the man at the center of the DA's sweeping 2007 probe into corruption within the Town of North Hempstead's Building Department, has been sentenced to one ...
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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