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Mortgage freeze hard on self-employed - Rocky Mountain NewsThe government’s recent moves to backstop the mortgage market have made it easier for many people with decent credit scores to get a loan. But for many self-employed people — even those with pristine credit — the mortgage freeze has yet to thaw ...
Credit card debt climbs - Rocky Mountain NewsThe percentage of people delinquent on their credit card payments rose in the third quarter from the same time last year, while average debt per borrower jumped 7.7 percent, according to credit reporting agency TransUnion LLC. For the quarter ended ...
The Libertarian Moment - Reason.comIf someone looked you in the eye in 1971 and said “Man, you know what? We’re about to get a whole lot freer,” you might have reasonably concluded that he was nuts, driven mad by taking too much LSD and staring into the sun. Back during that ...
November 2008 - Weblogs.baltimoresun.comIn an analysis of TV journalism on Wednesday night, I wrote that a red-ball event like the terrorist attacks in Mumbai often provided a great look into a news oganization. But in expressing my dismay at the way MSNBC couldn't let go of the comedic ...
Real-Time News - Newark Star-Ledger• Football: Millburn plays Madison during their Thanksgiving game • Football: Millburn plays Madison during their Thanksgiving game • Football: Millburn plays Madison during their Thanksgiving game They met as teenagers, finding a common bond ...
Political gap widens - Caspar Star-TribuneFor Wyoming Democrats, Tuesday's election had to be bittersweet. While they watched the nation pick Barack Obama as president in an electoral vote landslide, they saw their own state remain about as red as it could be. Wyomingites voted for John ...
Is a Vacation Home Still a Good Investment? - Wall Street JournalThe real estate crash in certain parts of the country raises a question: Does it even make sense for most Americans to own a vacation home anymore? The answers are going to vary, of course, from person to person. But the slump in places like Florida ...
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. But the slump in places like Florida and Arizona has badly knocked the idea that your long-term capital gains are going to offset the costs ...
Should U.S. bail out the auto industry? - Rocky Mountain News BlogsGM says it's running out of cash and the U.S. auto industry appealed for financial assistance from the government as part of the financial bailout process. GM also said it has suspended talks to acquire Chrysler. While it didn't specifically name the ...
Special session set on $10 billion state budget shortfall - Sacramento BeeGov. Arnold Schwarzenegger announced today that he will call a special legislative session Nov. 5 to wrestle with a projected shortfall that is "much worse" than the $3 billion previously projected. Senate President Pro Tem Don Perata later said 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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