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News about Mortgages:
House prices dip 10.5% in 12 months - Guardian UnlimitedAnnual house price falls hit double digits during August for the first time in nearly two decades, figures showed. The average UK property has lost 10.5% of its value during the past 12 months, the biggest drop since the final quarter of 1990, when ...
The Short View: US housing - Financial TimesFor a very pleasant change, this week’s data on US housing is ground for some relief. The supply of unsold houses is reducing, sales have stopped falling and prices are falling less swiftly than they had been. As far as they go, all of these ...
Japan to set Y10 trln economic package-media - Guardian UnlimitedTOKYO, Aug 29 (Reuters) - Japan's planned package of steps to help people and firms cope with high energy and food prices will total around 10 trillion yen ($91.36 billion) but involve only around 1-2 trillion yen in new spending, media reported ...
Give Scots families better mortgage deals than the English, says SNP - ScotsmanBANKS should treat Scottish customers more favourably than their English counterparts because the housing market in Scotland is more resilient, the SNP housing minister has said. Stewart Maxwell said he would "encourage" any moves by mortgage lenders ...
Top tips for thenew landlord - Hexham CourantWITH many home owners deciding to rent their homes out instead of selling, The Money Centre has provided a list of top tips to help landlords stay within the law. Director of The Money Centre, Lindsey Swales, who is herself a landlady, says: “I ...
UPDATE 1-Mediobanca main investor says power debate still on - ReutersCORTINA, Italy, Aug 28 (Reuters) - The question of control at Italian investment bank Mediobanca (MDBI.MI: Quote , Profile , Research , Stock Buzz ) is still under discussion, the head of its biggest shareholder, UniCredit, said on Thursday, adding ...
Ministers must 'stop home seizures' - The IndependentWrite-offs push Taylor Wimpey to a massive £1.5bn loss David Prosser's Outlook: The real victims of the housing market crisis need all the help they can get Leading article: Don't try to buck the housing market Ministers must act to help thousands ...
Asian markets open positive - MyIrisAsian stocks opened positive on Thursday, August 28, led by mining companies and banks, after US orders for durable goods unexpectedly advanced in July that indicated the economy could be stronger than some investors thought. BHP Billiton climbed as ...
AG: Officials in ailing borough misused money - Centre DailyPITTSBURGH — A former borough manager, borough secretary, council president and another official were charged Thursday with stealing money and equipment from their cash-strapped municipality. The financial situation in Rochester, 25 miles northwest ...
Bovis flagging - The SunTHE FTSE-100 finished 34.9 points lower on weakness in oil and mining stocks — but this represented a good result. Earlier, the premier index traded almost 137 points lower as it caught up with falls elsewhere on Bank Holiday Monday. But it rallied ...

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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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