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MATT OLBERDING/Lincoln Journal Star - Lincoln Journal Star
Though nobody’s got a crystal ball, several local Realtors say signs are encouraging that sales are starting to pick up and prices are stabilizing. Dick Roberts, a broker at Lincoln First Realty, says he thinks there is a lot of pent-up demand ...

It’s tougher to find a good deal at foreclosure auctions - Lynchburg News and Advance
The first time Penny Sipple went to a foreclosure auction, she wasn’t looking for a house. She was just curious. Then she watched a house sell for $20,000 at auction, about half its original mortgage. “That was enough to get me hooked,” she ...

Sweet Struggle - Philadelphia Daily News
The young Termini brothers - Joey and Vinny - had planned this meeting to pump up their employees for the furiously busy holiday baking season. They knew that the economic news was horrible and that their staff, a multicultural stew of immigrants and ...

Deflation 101: How Consumers Can Cope - Smart Money
Few consumers are going to be upset, of course, to walk into the local warehouse store and find that food, clothing and gadgets have all gotten cheaper. But during prolonged deflationary times, that glow isn't likely to last long. Companies making ...

Should the government bail out automakers, too? - WOAI
About five seconds after the $700 billion financial bailout passed, politicians asked about saving automakers, too. And then there were the "underwater" mortgage-holders. And really, would it be fair to let Circuit City die? The "Where does it stop ...

Career Moves - Raleigh News & Observer
Story Tools Tad Dunn has been hired as deputy director of the N.C. Military Foundation, which has its headquarters in Raleigh. Dunn will establish the Foundation's Charlotte office. Daniel LaBadie has been named manager of preconstruction services at ...

Chief justice’s father dies after long illness - Las Vegas Sun
The father of Chief Justice John Roberts died Tuesday after a long illness, the Supreme Court said. John Glover "Jack" Roberts Sr. was an executive of Bethlehem Steel Corp. and later worked for CSC Industries and taught at the University of South ...

Two arrested in thefts of cash and jewelry - Buffalo News
An investigation into thefts of cash and jewelry led to the arrest of two Cheektowaga residents on a slew of charges, state police reported Tuesday. Christopher L. Leipler, 22, and Nicole Roberts, 21, were taken into custody Thursday after troopers ...

Citigroup plans to axe 1000 employees in India, Pandit's job at stake - International Business Times
Just two days after Sanjay Nayar, CEO (South Asia), Citigroup, quit his job to head private equity firm Kohlberg Kravis Roberts & Co.'s (KKR) Indian operations, sources familiar with Citigroup's plans said the global bank plans to shed more than 1000 ...

November 22 real estate transactions - Nevada Journal
Michele Allison Roberts to Theresa L. Derry, property at 4146 Eisenhower Lane Unit 8 - $126,500. Edge Technologies Inc. to Iowa State University Research Park Corp., property at 2500 N. Loop Drive - $2,845,907.86. Glen A. Anderson and Judith A ...

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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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