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News about Mortgages:
Court news - Hendricks County FlyerNathan Adam Daniel, Danville and Kisha Rachelle Zigler, Brownsburg. Anthony J. Dick, Plainfield and Kimberly A. Ehmen, Indianapolis. Travis Lee Fields, Carbon and Lindsey Sue Buck, Brownsburg. Nathan Andrew Finlay, Danville and Sarah Elizabeth Baker ...
One in 10 homes on market over a year - Salford AdvertiserMORE than a tenth of properties up for sale in Salford have been on the market for a whole year. New figures show that 12 per cent of homes failed to sell throughout the whole of 2008 - more than twice the national average of five per cent. The study ...
When guilty pleasures and art collide - Bothell ReporterNK glass artist Lauri Hewitt’s hand-spun beads worn by Roma Maffia on the season premiere of “Nip/Tuck.” Ever since college, North Kitsap-based glass artist Lauri Hewitt said her guilty pleasure has always been the soap opera “Days of Lives ...
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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