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Housing grant to assist people with HIV/AIDS - Burlington Free Press
In a state beset by high housing costs, an infusion of federal money will provide a critical cushion for one of Vermont's most vulnerable populations: low-income people living with HIV/AIDS. Vermont will receive its fifth three-year grant -- $1,430 ...

Investor Jitters Deflate Fannie, Freddie Shares - Washington Post
Resize Shares of Fannie Mae and Freddie Mac tumbled more than 20 percent yesterday, hitting their lowest levels in nearly two decades, as investors fled out of fear that a government initiative to save the ailing mortgage giants could render their ...

Family faces loss of home over suit - Baltimore Sun
Vernon Onheiser broke down in tears as he and his two teenage sons heard that they were scheduled to lose their Canton home today over a ground rent lawsuit filed against his parents, who died about 10 years ago. "I don't know what to do," he said ...

Credit crunch hits home as mortgages drop by 34% - Times Online
The Scottish housing market has suffered a severe downturn with the number of loans taken out by homebuyers falling by more than a third in a year. The figures appear to contradict comments made recently by Alex Salmond, the First Minister, who ...

PHH deal done in by tight credit - Baltimore Sun
The collapse of PHH Corp.'s deal to sell itself is a lesson for these credit-crunched times: If you're in the mortgage business, don't count on anyone getting the money to buy you - no matter how decent your prospects look. PHH agreed in March to ...

Pres. Monson celebrates 81st birthday - ksl.com
If I had one wish, then it would be... Well, probably to have my mortgage paid off. I mean, really, he's probably going to have a happy birthday if I wish it on him or not, and if I only had the one wish, it'd be a shame to blow it like that. And ...

Olympics: Shanaze Reade into semi-finals despite crash - Guardian Unlimited
If there was one rider in the British cycling team that Chris Hoy was going to put his mortgage on (not that he'd have much of one after this week), he said it was Shanaze Reade. Twice world BMX champion, twice world track champion, she looked to be ...

Dion links Walkerton, planned cuts to food scrutiny - Globe and Mail
Shawn Bull from Canada writes: Is Dion using the current death of one person and the sickness of others to score political points? The article leads me to believe that this is a proposal only yet Dion makes it sound as though all of these are linked ...

Paulson Risks Goldman Standard as Fannie, Freddie Shares Erode - Bloomberg
Aug. 21 (Bloomberg) -- As soon as he became secretary of the U.S. Treasury in July 2006, Hank Paulson started preparing for a crisis. In August 2006, at a meeting with President George W. Bush and his economic team at Camp David, Maryland, the former ...

Fine Print - Marion Chronicle-Tribune
KEY: Establishments are graded on the number of violations in three categories: critical, non-critical and repeat violations. Those with a large number of critical or repeat violations may be reinspected. Those without any violations are given a ...

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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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