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Emergency rescue for mortgage defaulters - Times OnlineHomeowners who lose their jobs or suffer a severe drop in earnings are to be allowed to defer their mortgage interest payments for up to two years, Gordon Brown announced yesterday. The emergency state guarantee will help people on upper and middle ...
Reserve Bank slashes interest rates - Australian Broadcasting Corp.Transcript KERRY O'BRIEN, PRESENTER: While many households around Australia are tonight calculating how much they're going to save in their mortgage repayments after the latest big interest rate cut, market economists are still waiting for signs that ...
Media News Stories - Atlanta Journal ConstitutionThe Atlanta Fire Rescue Department is donating 800 carbon monoxide/smoke detectors to Georgia Tech to be used in student housing units... Jimmy Carter writes new book on Middle East (12/04/2008) Former President Jimmy Carter has written a new book on ...
Delta, Northwest airlines post traffic declines - Milwaukee Journal SentinelDec. 4, 2008 2:50 p.m. | Delta Air Lines Inc. today reported November traffic declines for both its Delta and Northwest Airlines units. For the Delta operations, revenue passenger miles in the United States dropped 10.5% compared to November 2007 ...
Fractional Homeownership-Good Idea or Not? - Seattle Post Intelligencer BlogsThese crazy times demand that we re-think how we view home ownership with creative economic solutions. With the economic bailout package and lower interest rates, the country has begun to deal with the economic mess. But is this enough? Most people ...
Jobs slaughter continues as bosses slash production - Socialist WorkerSigns that Britain faces the worst recession in more than 20 years were confirmed by a collapse in the value of the pound, a sharp drop in the value of shares, and reports of a dramatic drop in demand by British manufacturers. On Monday the pound ...
Victim's Mom on MySpace Hoax Verdict: No More Using 'Internet as ... - FOX NewsST. LOUIS — The mother of a girl who committed suicide at age 13 after being subjected to an Internet hoax says a woman's conviction in the case shows that people who use the "Internet as a weapon" will face consequences. Lori Drew, 49, of O'Fallon ...
PRESS DIGEST - British business - Nov 29 - ReutersINDEPENDENT TITLES TO SHARE OFFICES WITH DAILY MAIL Independent News & Media is to share back office services with the Daily Mail publisher Associated Newspapers. The move is designed to safeguard the finances of The Independent and The Independent ...
Record budget has little tax bite - Times-HeraldLITTLE VALLEY – A record $203,895,790 Cattaraugus County budget for 2009 was unanimously adopted without comment Tuesday by county lawmakers. That is an increase of almost $9 million over the current county budget. The budget carries a $44,788 ...
Frank: Sixers' GM has a good first year - Delaware OnlineEd Stefanski's one-year anniversary as president and general manager will come Thursday. Already, it is clear that Stefanski breathed some much-needed life, ingenuity and creativity into the franchise, the 7-9 start and humiliating 102-78 loss to the ...
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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