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Mortgage Foreclosures - The Ledger
Mortgage foreclosures filed with the civil division of the Circuit Court for January 2008. Names in bold are the subject of, or have an interest in, the foreclosure action. Lighter names filed the foreclosure action. Roig, Francisco, Marlenis ...

Bank Writeoffs May Triple, Bond Premiums Narrow as TARP Begins - Bloomberg
Oct. 6 (Bloomberg) -- The Treasury's $700 billion plan to rescue the nation's banks from the subprime mortgage debacle may help bonds rebound from losses of at least 90 percent while contributing to losses at financial institutions. The Troubled ...

Irving hotel company FelCor looks for revival - Fort Worth Star-Telegram
The stretch of Southern California shoreline made famous in the Beach Boys’ 1960s hit Surfin’ U.S.A. is the proving ground for Chief Executive Richard Smith’s plan to revive FelCor Lodging Trust, the Irving hotel company whose shares plunged 65 ...

The dangers of leverage - International Herald Tribune
Asset bubbles like the one that caused the current economic crisis have long plagued financial markets. But like hurricanes in the Gulf of Mexico, these disasters have been occurring with increasing frequency. If we want to prevent them, we must ...

Americans eye bailout, and continue cutting back - Washington Post
Morgan Cavanaugh, 50, owner of Moriarty's Pub, poses for a photo Friday, Oct. 3, 2008, in Cleveland. (AP Photo/Tony Dejak) (Tony Dejak - AP) A cutout car salesman stands alone in a car lot at the closed Wilkes-Barre Dodge dealership owned by The ...

Losing my religion in the aisles of the new cathedral of consumerism - Women.timesonline
I am standing on a ledge gazing down at the innards of the new Westfield shopping centre in west London. Outside, in the real world, Iceland is suddenly poorer than Africa. Inside, they are preparing for the ultimate shopping experience. Below the ...

Pursuit of an Edge, in Steroids or Stocks - The Ledger
ASSET bubbles like the one that caused the current economic crisis have long plagued financial markets. But like hurricanes in the Gulf of Mexico, these disasters have been occurring with increasing frequency. If we want to prevent them, we must ...

As bailout vote nears, other plans proposed - Detroit Free Press
WASHINGTON -- As the House hurtled toward a rematch today over a $700-billion bailout of financial firms, leaders said the revised bill that passed the Senate was winning support, even as opponents scrambled to push alternatives. As markets sank ...

For bailout to work, housing market needs to mend - BusinessWeek
Washington's financial bailout plan is now law. So the credit spigot will start flowing again, banks will resume lending, and an economic recovery can begin, right? Wrong. Experts say the most important thing that needs to happen before the $700 ...

Inside Business - Omaha World-Herald
Mortech , a Lincoln-based mortgage technology software provider, was presented with the 'Rick Stiegler Innovator of the Year' Award at the 2008 LendingTree Partner Summit. The prestigious award, named after LendingTree 's founding chief technology ...

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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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