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News about Mortgages:
Great Wolf talking with lenders about mortgage extension - Milwaukee Journal SentinelDec. 1, 2008 11:42 a.m. | Madison-based Great Wolf Resorts Inc. says it remains in discussions with its lenders regarding an extension of yesterday's maturity date on a $76.8 million mortgage loan on its Mason, Ohio, water park resort. Until those ...
Mortgages & homes - House prices - This is MoneyHouse prices are likely to continue to tumble next year, as mortgage lending goes into reverse for the first time ever. The Government's mortgage expert Sir James Crosby has warned that unless swift action is taken repayments and redemptions will ...
Brewers announce spring schedule - Milwaukee Journal SentinelDec. 1, 2008 2:06 p.m. | The Brewers announced their spring training schedule today, including two games against the Los Angeles Dodgers in Dodger Stadium after breaking camp in Arizona. The Brewers' first exhibition game will be Wednesday, Feb. 25 ...
CITY OF LOCKPORT: Mortgage company fined over housing violations - Lockport Union-SunA mortgage company that disposed of a dilapidated Harvey Avenue house will pay a fine to satisfy charges it neglected the house while it still held the title. American General Home Equity Inc., 5875 S. Transit Road, agreed last month to plead guilty ...
Fall in house prices slows but mortgage fraud flourishes - Guardian UnlimitedThe sharp fall in house prices has slowed this month, Nationwide said yesterday, but experts predict that they still have further to fall. Britain's biggest building society said that prices dropped 0.4% this month and 13.9% over the past 12 months ...
Builders reassured after government briefing - InsideHousingRepresentatives of the house building industry have said they are confident of political support following a meeting with the prime minister. The Home Builders Federation was among groups invited to a breakfast meeting with Gordon Brown and housing ...
Banks agree to give mortgage holders more time to pay - Times OnlineHomeowners who are struggling to meet mortgage repayments were given a lifeline yesterday as the Chancellor confirmed that some of Britain’s biggest lenders had agreed not to repossess properties until at least three months after borrowers first go ...
Mortgage industry backs Crosby report - In the NewsMortgage experts have backed the Crosby report but are disappointed the government will not look into its recommendations until the spring. The investigation into the squeeze on credit in the mortgage market by Sir James Crosby, the former chief ...
Mortgage deals with Beach company put owners out of homes - HamptonRoads.comIt was Delisa Mackey's dream home: a tidy two-story house with a two-car garage on a quiet Suffolk cul-de-sac with a patch of woods out back. It was built brand-new to her specifications in 2002, and her name was on the deed. No more renting for this ...
Black Friday, Bah Humbug, Countrywide: Your Emails - CNBC"My first thought was that the guy was a victim of consumerism -- a sad testimony to how, even in hard economic times, Americans can't turn off their thirst for things, things, things. And then I got thinking. I saw your report on the 'entrepreneurs ...
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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