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News about Mortgages:
Pilgrim’s Pride will keep plants running - Sand Mountain ReporterPilgrim’s Pride has no plans for additional layoffs or plant closings despite filing for bankruptcy protection. The poultry giant, Marshall County’s largest employer, is seeking Chapter 11 protection. That would free the company from the threat ...
People in Business - Jackson Clarion-LedgerKim Pittman has been promoted to assistant vice president. She has eight years of experience in banking and has been with the company more than two years. Pittman is a graduate of Brookhaven Christian Academy. Paula Spurgeon has been promoted to vice ...
Jackson County unemployment hits 9.4 percent - MLive.comThe number of unemployed in Jackson County rose 37 percent in the past year, hitting an unemployment rate reminiscent of the early 1990s. There were 7,100 county residents without jobs in October — 1,900 more than at this time last year, according ...
Register for FREE - Wall Street JournalContrary to the assertions of critics, the evidence does not support the view that the CRA (Community Reinvestment Act) contributed in any substantial way to the crisis in the subprime mortgage market,” Federal Reserve governor Randall Kroszner ...
Bernanke: lower interest rates are ‘‘feasible’’ - Jackson SunWASHINGTON — Federal Reserve Chairman Ben Bernanke said Monday that further interest-rate cuts are ‘‘certainly feasible,’’ but he warned there are limits to how much such action would revive an economy likely to stay weak well into next ...
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 ...
America Needs Its Frontier Spirit - Wall Street JournalThe greatest danger in the current economic crisis is that the United States will lose its historic appetite for risk. The mood now is that risk-taking got us into this mess. Risk, though, is the quintessential American trait that built the nation ...
Lobbyists will love Obama - Jackson SunBarack Obama promised the end of the era of lobbying as we know it during the campaign, but the National Marine Manufacturers Association didn't get the message. Nor did the National Automobile Dealers Association. Nor did anyone else who can make a ...
Tallahassee woman fighting to keep her home - Tallahassee DemocratIn my heart, I thought I owned the house. Ralph had made all the payments," she said. She has receipts for each one. They even had a mortgage life insurance policy to pay the loan balance in the event of his death. Then the unthinkable happened ...
Businesses in Top 10 still going strong - MLive.comLast year, the Citizen Patriot — with help from The Enterprise Group — selected 10 businesses it determined were thriving in Jackson County, despite the poor economy. We brought you stories of a business doing high-tech research on the cars of ...
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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