Union Center Mortgage Rates and Information Online from competing Lenders

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Bush Reversal on Iraq Deadline Gives Obama Breathing Room - Washington Post
During a symbolic signing ceremony, Iraq ambassador Ryan Crocker said the Iraqi Cabinet's approval of a security pact extending the presence of American forces in Iraq for three years is 'historic'. The deal still needs parliamentary approval. By ...

Coming Up - Times Union
Earnings expected: Lowe's Cos., Target Corp. Government reports: Federal Reserve releases industrial production for October. Other: Federal Reserve Bank of Kansas City President Tom Hoenig speaks at the Institute of International Banker's conference ...

Obama weighs names for top posts - Las Vegas Sun
Defense Secretary Robert Gates. Former Navy Secretary Richard Danzig. Sen. Chuck Hagel, R-Neb., critic of Iraq war, retiring from Senate. Sen. Jack Reed, D-R.I., member of Senate Armed Services Committee. John Hamre, former deputy defense secretary ...

A lawyer could help your mortgage-modification case - Marketwatch
WASHINGTON (MarketWatch) -- Question: What do you think of hiring a law firm to negotiate a loan modification? They charge $3,995 and say they have a 95% success rate. Do you think this is better than trying to do it on your own since so many people ...

Economic Bailout or Financial Screwup? - Tothecenter.com
Pres. George Bush sits between Henry M. Paulson and Prime Minister Taro Aso of Japan. He is grey with tired eyes as, what some call, “his reign of terror” is coming to an end. The reason they are sitting at a table is to discuss a way to save the ...

The global crisis is a crisis of capitalism - Indymedia Ireland
It is time for the workers and the poor in the Philippines to prepare for the worse the moment its government keeps on repeating the mantra that the economic fundamentals remain good and thus there is little to worry about effects of the global ...

BRUCE LIPSKY/The Times-Union - Florida Times-Union
For many in Jacksonville, that mall has been Regency Square. It debuted in 1967, billing itself as the largest shopping center in the Southeast. By 1979, it was one of the most profitable shopping centers in the nation, according to an Urban Land ...

Guevarra: Luxuries lost - San Diego Union-Tribune
The gold and diamond rings Ernesto Guevarra wears are fleeting traces of the indulgent life he led during the real estate boom. NANCEE E. LEWIS / Union-Tribune Since his foreclosure, Ernesto Guevarra has lived with his mother. "I'm sad I cannot ...

The Huffington Post - Huffingtonpost.com
Sam Stein is a Political Reporter at the Huffington Post, based in Washington, D.C. Previously he has worked for Newsweek magazine, the New York Daily News and the investigative journalism group Center for Public Integrity. He has a masters from the ...

As U.S. Banks Retreat, Credit Unions Step Up Loans - Post Chronicle
Some U.S. consumers hit hard by the credit and foreclosure crisis are finding that down-sizing their lender is paying dividends. Thanks to his local credit union, for example, former automotive engineer Jim Greenshields is buying back his old house ...

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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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