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News about Mortgages:
Mortgage deals return after rates rebound - Times OnlineMortgage rates soared to their highest level in more than seven years last month following a sharp rise in the cost borrowing between British banks. According to the Bank of England, the average rate for a tracker mortgage pegged to the base rate ...
Banks on the brink of a shakeout - Times OnlineThe banking industry will change beyond all recognition this week as shareholders vote on the takeover of Halifax Bank of Scotland (HBOS) by Lloyds TSB, and as Royal Bank of Scotland (RBS) looks set to be nationalised. Lloyds, with 400,000 “small ...
House prices dive 15% in record drop - Times OnlineBritish house prices fell by a record 15 per cent in the year to October as the country's deteriorating economy wiped £30,000 off the value of an average UK home. On a monthly basis, house prices fell by 2.2 per cent between September and October ...
Waste Connections Inc. Q3 2008 Earnings Conference Call Transcript - Seekingalpha.comWaste Connections, Inc. (WCN) Q3 FY08 Earnings Call October 22, 2008, 8:30 AM ET Executives Ronald J. Mittelstaedt - Chairman and CEO Worthing F. Jackman - EVP and CFO Analysts Scott Levine - JPMorgan Corey Greendale - First Analysis Bill Fisher ...
eBay buyer faces libel action after leaving negative feedback - Times OnlineA man is facing legal action for libel after leaving negative feedback for an item he bought on auction website eBay. When Chris Read received the £155 mobile phone he had purchased from Joel Jones on eBay, he found it was the wrong model and was ...
Water system keeps Hyperion request alive - Sioux City JournalVERMILLION, S.D. -- The Clay Rural Water System board voted 6-3 Thursday night to further investigate the possibility of providing the 9 million to 12 million gallons of water per day that Hyperion Refining would need to operate the 400,000-barrel ...
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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