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News about Mortgages:
Franchise owners whet Rochester-area appetites for Moe's Southwest ... - Democrat and ChronicleWhen Andrew and Brad DeGrazia moved to the Rochester area, they brought a taste of their old home in Arizona with them. Since 2005, they have opened two Moe's Southwest Grill restaurants in the Buffalo area and three around Rochester. The most recent ...
Rochester Real Estate Market Stable - 13 WHAM(Pittsford, N.Y.) -- While the bottom has dropped out of the real estate market in many large metropolitan areas, property owners and realtors say the housing market in Rochester remains stable. John Antetomaso, president of the Greater Rochester ...
Regional companies seek investors' interest at conference - Democrat and ChronicleMost of the time as head of Veramark Technologies Inc., Tony Mazzullo is involved in the business of selling software and services that help companies cut their phone bills. But last week in a hotel conference room in a Buffalo suburb, the CEO of the ...
Specialty stores offer a bright spot for retail - Democrat and ChronicleThe 2008 holiday shopping season may be one of the most challenging for retailers. Nationwide, many retailers already have rolled out pre-holiday sales and special promotions to put consumers into a spending mood and try to meet or beat a modest ...
Better wounded care has led to longer goodbyes - Navy TimesHarold and Mary Mowl were shocked by what they saw when they first visited their son, Kevin, in the intensive care unit at National Naval Medical Center in Bethesda, Md. A 150-pound bomb had exploded under Kevin’s vehicle in Baghdad on Aug. 2, 2007 ...
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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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