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Obama pledges to help states weather recession - Washington PostCHICAGO (Reuters) - President-elect Barack Obama on Tuesday pledged to help state governors cope with a deepening recession and asked them to help craft a massive stimulus package to create jobs and tackle the crumbling economy. As governors ...
TransUnion: 3Q mortgage delinquencies shoot higher - SalonDec 2nd, 2008 | NEW YORK -- The percentage of people who are two months behind on their mortgages shot up in the third quarter from the same period last year, according to credit reporting agency TransUnion LLC. For the quarter ended Sept. 30, 3.96 ...
Unicredit offers mortgage relief in Italy - SalonDec 2nd, 2008 | MILAN, Italy -- Italy's largest bank Unicredit said Tuesday it will suspend mortgage payment requirements for 12 months without penalties for homeowners in financial difficulty. Unicredit said 260,000 homeowners whose income was below ...
County clerk Greg Smith calling it quits after 25 years - San Diego Union-TribuneRetiring county clerk Greg Smith poses with a single day's worth of paperwork filed at the County Administration offices for home loan mortgage refinances. The year was 2003, when mortgage money was plentiful and interest rates were low. SAN DIEGO ...
Apalachicola State Bank opens temporary office - Apalachicola TimesApalachicola State Bank has opened a temporary office in a portable facility on Commerce Street across from the bank's parking lot. According to Donnie Gay, the bank's senior vice president, customers are currently being contacted to come empty out ...
San Francisco - Orlando SentinelReported incidents of mortgage fraud grew by 45 percent in the second quarter compared to the year-ago period, as borrowers misstated their financial information to maneuver around tighter lending standards, industry data released Tuesday showed ...
the other is in The Advocate - AdvocateIt’s 8 a.m. on Election Day, and Barney Frank is doing his laundry. “Good morning,” he mumbles, lugging a gigantic white laundry bag over his shoulder as he leads the way from the basement up the stairs to his studio apartment in an ...
The middle-aged sex time bomb: It's not just the young and single ... - Daily MailTheir faces taut with ill-concealed anxiety, several well-heeled men and women sit in a plush waiting room in central London. A gentleman in a Savile Row suit tries not to meet the glance of an elegant fifty-something woman sitting opposite. A blonde ...
Nov 30 - Dec 06 (143) - Andrewsullivan.theatlantic.comMourning seems to be a time when hallucinations are particularly common, to the point where feeling the presence of the deceased is the norm rather than the exception. One study, by the researcher Agneta Grimby at the University of Goteborg, found ...
Bush Administration Ignored Warnings of Pending Financial Meltdown - FOX News"Expect fallout, expect foreclosures, expect horror stories," California mortgage lender Paris Welch wrote to U.S. regulators in January 2006, about one year before the housing implosion cost her a job. Bowing to aggressive lobbying — along with ...
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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