Newtown Mortgage Rates and Information Online from competing Lenders

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Crist meets Obama - Herald Tribune
Gov. Charlie Crist traveled to Philadelphia earlier this week, joining most of the nation’s governors in a meeting with President-elect Barack Obama. Crist said Wednesday he had a chance to chat with Obama before and after a meeting with all of the ...

Midnight Pass gets bad reviews from regulators - Herald Tribune
MIDNIGHT PASS — The $15 million plan to reopen Midnight Pass is getting tough reviews from federal regulators, most notably from a permits chief with the Army Corps of Engineers who equates the complex project with the building of the Panama Canal ...

'Better off', but not spending - News.com.au
AUSTRALIANS appear to be keeping their money in their pockets despite the cost of petrol, groceries and mortgages falling rapidly in recent months. For every bit of good consumer news, there’s bad – like falling shares and super funds – that ...

Credit crisis counselors - Washington Business Journal
Stuart Stein of Hogan & Hartson LLP is leading a task force that was formed to keep track of the dramatic regulatory changes occurring as a result of the nation’s financial crisis. In the two months since local mortgage giants Fannie Mae and ...

Windham (Windham, Connecticut) - Hartford Courant
Cyncy Abel laughs when talking about how her quality of life has improved since she and her husband, Mike, got a reverse mortgage on their Old Saybrook home. The reverse mortgage allowed her to retire from her full-time job so that she's able to work

Musical Chairs At DCF - Hartford Courant
The Rathbun Free Memorial Library will host a display and silent auction of donated Christmas trees, wreaths and holiday exhibits. All proceeds from the event — organized by the East Haddam Community Lions — are to benefit local emergency ...

Churches, temples building faith in the crumbling economy - Danbury News-Times
After years of trying to wedge one more chair into a shoebox turned sanctuary in Brewster, N.Y., Rabbi Solomon Acrish and others began looking at plans for a new temple in the mid-1990s. Acrish, the rabbi at Temple Beth Elohim for the past 42 years ...

The (Big) Round-Up: Monday - New York Observer
At the Wagner Houses—an East Harlem housing complex whose elevators break down more often than any other—residents live with the constant threat of getting stuck in a six-by-four-foot box. [NY Times] A declining real estate market means it’s ...

Foreclosures increase in Connecticut - Danbury News-Times
On the same day a national report said Connecticut suffered the biggest yearly increase in foreclosures of any state in October, Webster Bank announced plans to suspend all foreclosure activity for 90 days. California-based RealtyTrac.com, which ...

Cappiello Concerned About Nation's Poor Saving Habits - TriVallyCentral
The candidate, a mortgage loan officer with Flagstar Bank in Danbury, said that people in the financial industry used to counsel people earning $100,000 a year to spend only up to 28 percent of their income on a home mortgage and only up to 38 ...

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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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