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GDP figures point to Australian recession in 2009 - News.com.auTHE latest national accounts figures are a positive outcome for Australia in view of the global financial crisis, Treasurer Wayne Swan says. Figures released on Wednesday by the Australian Bureau of Statistics showed Australian real gross domestic ...
Other CEOs Are On Hot Seat Over Subprime Crisis - CNBCThe rapid fall of Stanley O'Neal from the helm of Merrill Lynch has left investors wondering who else in the banking industry may pay a price for the U.S. subprime mortgage crisis. O'Neal's downfall leaves Citigroup's Charles Prince, Bear Stearns ...
Mansions go begging as wealthy dump luxury homes - News.com.auBut there are precious few buyers, causing a glut of unsold properties in exclusive Melbourne suburbs. Elite property listings have leaped by up to 24 per cent compared with the same time last year as cash-strapped investors face margin calls on ...
COMMON PLEAS - Salem News OnlineCitimortgage v. Joseph and Misty McCoy, etc; foreclosure sought against property on Burford Street, East Liverpool. Palisades Collection v. Donald E. Huston, etc; collection sought of $3,900 alleged debt. Countrywide Home Loans v. Justin and Jennifer ...
Where am I? - Times OnlineThe Information Commissioner’s Office has gone even further today, however, demanding new powers to prosecute organisations that lose personal details and the ability to raid the premises of organisations suspected to have broken data laws. Mr ...
Nine years' jail for sex abuse - This is MalvernA FARM worker who sexually abused four children in the 1970s has been jailed for nine years at Worcester Crown Court. The two boys and two girls were aged from four to 12 and were attacked in a barn, a house, a workshop and a field. Robin Bennett ...
Princeton students, state prison inmates face off in chess challenge - Newark Star-LedgerThirty minutes before the final moves were made, the outcome was already certain. "It's over," whispered convicted killer Carl Gooding, grinning as he looked confidently over the remaining pieces on the chess board. The 41-year-old prison inmate had ...
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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