Sandy Mortgage Rates and Information Online from competing Lenders

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Man accused of being phony lawyer to stay home - In-Forum
BISMARCK, N.D. Given a choice between home confinement and jail, a man accused of impersonating a lawyer agreed to stay in his Duluth, Minn., home until his trial on federal charges of mail fraud and making false statements. Howard O. Kieffer, 53, is ...

Real estate slump continues around the world - International Herald Tribune
Foreign buyers have stopped purchasing homes sight unseen. Vacation home-seeking Spaniards, heeding the government's warnings about a recession, have also pulled back. That leaves 54,000 vacant and unsold new properties throughout Malaga province ...

Letters: Councilman wrong on Philly's green future - Philadelphia Daily News
COUNCILMAN Bill Green suggests that Mayor Nutter should cut the Office of Sustainability and the bicycle and pedestrian coordinator as a "non-core service" in the city budget. While Green's desire to keep fire stations and libraries open is ...

Sunday Calendar - San Gabriel Valley Tribune
INTER-COUNTY GARDEN CLUB will hold its Annual Holiday Potluck at 10:30 a.m. at the Joslyn Senior Center, 815 N. Barranca Ave., Covina. Please bring a dish to share. For more information, call (626) 967-1602. COLLECTIBLES CLUB meets at 7 p.m. at the ...

Bargains lure reluctant shoppers, at least for a day - Salt Lake Tribune
With retailers in Utah and nationally discounting merchandise 70 percent or more, Black Friday shoppers hesitant about the economy found the bargains they were looking for, though many said they would continue to be more cautious in the days ahead ...

Citigroup flop exposes folly of empire-building - Thanhnien
Sandy Weill never dreamed Citigroup Inc. would end up as a ward of the government. When he merged Citicorp and Travelers Group Inc. in 1998, Weill envisioned the ultimate financial-services empire – peddling checking accounts, stock brokerage ...

Singing the Blues - CFO.com
When Citigroup was formed a decade ago, in a merger that reshaped banking, the deal's architect, Sandy Weill, basked in the limelight and admitted to feeling like a rock star. The boss these days, Vikram Pandit, must feel more like a busker. Humbled ...

Dimon's Tactics Help JPMorgan Weather Crisis - CNN Money
In October, as the banking system teetered on the brink of collapse, a letter from Texas arrived at JPMorgan Chase & Co. (JPM) headquarters in New York , addressed to Chief Executive Jamie Dimon . The envelope contained white powder and a death ...

Dimon steers J.P. Morgan through financial storm - Marketwatch
SAN FRANCISCO (MarketWatch) -- In October, as the banking system teetered on the brink of collapse, a letter from Texas arrived at J.P. Morgan Chase & Co. headquarters in New York, addressed to Chief Executive Jamie Dimon. The envelope contained ...

Government and banks pledge lending help - International Herald Tribune
The government and major banks pledged to improve lending to small businesses and ease strains on home owners on Wednesday as pressure intensified on lenders to free up credit in the face of recession. Prime Minister Gordon Brown unveiled a scheme 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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