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News about Mortgages:
Economy Hitting Women Hardest, Say Experts - Common DreamsWASHINGTON - Women are being disproportionately affected by the U.S. mortgage crisis and economic plunge, said a panel of women leaders Wednesday, urging a strong woman-focused response from the federal government. In Rhode Island, the state with the ...
10 truisms of capitalism from the mouths of robber barons - Peoples Weekly WorldEditor's note: In his comments on causes of the housing mortgage crisis and his explanation for why he opposed new legislation to help homeowners stay in their homes, John McCain basically blamed working families who have their homes foreclosed for ...
Bush's Willing Accomplice - Common DreamsIsolated, repudiated by his people and even shunned by his own party, George W. Bush – the lamest of lame ducks – still seems able to count on the support of at least one world leader: Stephen Harper. And so it was on the weekend, as it has so ...
Grant's big day leads Packers over Bears - San Francisco GateRyan Grant finally hit his stride for the Green Bay Packers, rushing for 145 yards and a touchdown in a dominant 37-3 victory over the Chicago Bears on Sunday. Dolphins rally to beat Raiders 17-15 11.16.08 Davis has praise for Jackson and rest of old ...
The Only Cure for a Bubble... - Safe HavenFor the week, the S&P 500 dropped 6.2% (down 40.5% y-t-d) and the Dow fell 5.0% (down 35.9%). Economically-sensitive stocks were hit hard. The Morgan Stanley Cyclicals sank 9.6% (down 54.3%). Transports dropped 4.7% (down 23.5%), the Morgan Stanley ...
Bailout goes from necessary to nightmarish - Atlanta Journal ConstitutionThat $700 billion financial sector bailout that I supported — and do still, but with an exit strategy — is a nightmare in the making. Look what’s happened since the first of the month: Atlanta Mayor Shirley Franklin, smelling a bailout handout ...
Grey Bruce Poetry Project - Owen Sound Sun TimesWelcome to the Poetry Project - a place to share your poetry and to enjoy the many voices of our community. Take a look at our community forum for Grey/Bruce poets. Submit your poems. Add links to your favorite poetry sites. Load up audio or videos ...
Students learning from financial crisis - San Francisco GateGould, who teaches a course at Stanford on money, banking and the financial markets, searched the faces of his 100 students, many of whom are preparing to graduate in the spring. Students asked questions about their midterm exam, but many grappled ...
Women on the Brink of Financial Disaster - Newsblaze.comCarlene Balderrama was a 53-year-old working mother living in Boston when, on July 22, she faxed a letter to the company holding her mortgage. The letter read, in part, "By the time you foreclose on my home, I'll be dead." Balderrama, who knew that ...
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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