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Congressional reps prepare agendas - Inland Newstoday
WASHINGTON--The Inland Empire’s Congressional delegation will be pushing similar agendas when the 111th Congress convenes Tuesday. Redlands Republican Jerry Lewis begins his 16th term with the mortgage crisis and energy independence his top ...

Investors returning to Inland housing scene - Riverside Press Enterprise
After retreating in fear from housing's sudden collapse, those who buy homes as an investment are reappearing in Inland Southern California's beaten down marketplace. Sharply discounted foreclosed properties are luring back the first wave of ...

Investors return to housing scene - TMCnet
(Press-Enterprise, The (Riverside, CA) Via Acquire Media NewsEdge) Jan. 3--After retreating in fear from housing's sudden collapse, those who buy homes as an investment are reappearing in Inland Southern California's beaten down marketplace ...

PARKS SENT TO CYBERIA - New York Post
No more Googling in the park. Free wireless Internet connections in city parks are the latest victims of the free-falling economy. Wi-Fi Salon, the company under contract with the city to provide the free connections, had to pull the plug when ...

Unemployed woman helps needy - Redlands Daily Facts
SAN BERNARDINO - Potted plants, a dining room table, chairs and other pieces of furniture fill the garage in the home that Annette Fields may lose in the months ahead. But even though the 40-year-old San Bernardino woman has fallen on hard times, she ...

Inland credit union CEO presses Washington for share of economic ... - Riverside Press Enterprise
WASHINGTON - Banks across the nation have already benefited from September's massive economic rescue bill, to the tune of almost $280 billion. But credit unions haven't seen dollar one, prompting calls for federal help from an executive at one of the ...

Laid Offsies Leave the Bay Area - San Francisco Gate
Some laid off workers find they can no longer afford San Francisco. A sad batch of listings on the classified site suggests a decent percentage of laid off workers are fleeing the city. San Francisco is a pricey place to live under the best of ...

Cultural lessons: pop feels the crunch - Cape Breton
When Akon released his single I’m So Paid in October, he sparked a mini-controversy: a song about driving at 90 miles an hour in a 65 zone while boasting of your riches with the windows rolled down was perhaps not the most sensitive response to a ...

Bad boys and bumblers of O.C. business in 2008 - Orange County Register
The Broadcom co-founder was indicted in June on 21 counts of securities and accounting fraud stemming from the company's $2.2 billion scheme to under–report the value of employee stock options. Among the allegations were that Nicholas hired ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. Because of the mortgage crisis, banks need liquidity –desperately. The need is so dire, in fact, that regulators are trying to push banks to ...

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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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