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Desperate Southland homeowner plead case to IndyMac bankers - Los Angeles Daily NewsVAN NUYS - Retired cartoon animator Marcia Munn faces foreclosure on the Northridge home she has owned for 24 years, so three weeks after she voted for Barack Obama, she made a desperate public plea to the president-elect. "Please help me to keep my ...
Good deeds - Herald TribuneGettel Hyundai distributed free to the public more than 4,500 tickets to a Sarasota Reds game to say "thank you" to the Sarasota-Bradenton community. The game benefited the Boys & Girls Clubs of Sarasota County, enabling the organization to recruit ...
Archive » 2005 » July - BankerWelcome to the largest edition of The Banker ever produced in nearly 80 years of publishing history. At 328 pages, our July issue is a veritable gold mine of articles, interviews, facts and figures. Taking pride of place is, of course, our annual Top ...
Intense vetting underway for Obama hires - USA Today• Electronic communications , such as potentially embarrassing e-mails, text messages or instant messages. • Personal financial records , such as mortgage papers, tax returns and loan agreements. • Domestic help , including details about ...
A tale of two banks - San Gabriel Valley TribuneWEST COVINA - It is the tale of two Pasadena-based banks. One was the victim of bad timing. The other - a beneficiary. IndyMac Bank was definitely not in the right place back in June, when a letter to federal regulators from U.S. Sen. Charles Schumer ...
The (Big) Round-Up: Monday - New York ObserverIn a private meeting Sunday, Paterson, Senate majority leader, Dean G. Skelos, and Assembly speaker, Sheldon Silver, fail to reach an agreement on how to close the state’s budget deficit. [NY Times] Slowly but surely, the National September 11 ...
Industry Snapshot - Investors Business DailyThe current U.S. financial crisis began unraveling in the real estate industry's subprime lending sector midway through last year. It shifted gears in March with the abrupt and violent collapse of investment bank Bear Stearns in mid-March. Suddenly ...
Job Market Tightens as Layoffs Spread - Flathead BeaconElaine Badley has worked at Semitool for the past eight years. Now, following her Nov. 10 layoff along with 99 other employees, she enters what she calls the “world of the unknown.” Indeed, with a shortage in federal funding for displaced workers ...
Museum has thousands of sports memories on display - Los Angeles TimesGary Cypres is the founder and curator of the Los Angeles Sports Museum, which will open to the public on Nov. 28. Cypres estimates the value of his collection and the converted office building that houses it at $30 million. The Los Angeles Sports ...
Sheriff's sale of couple's North Canton home is canceled - Canton RepositoryCANTON The auction of a North Canton couple's home scheduled for today has been canceled. Family and friends of William and Bette Hammen had been scrambling to prevent the sale after learning the couple's longtime home was in danger. The couple 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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