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Kennewick renter charged with arson - Tri-City Herald
A Kennewick renter who withdrew his homeowner's insurance claim after learning investigators suspected him of setting a recent blaze was charged Wednesday with arson. Joseph G. Martin, 42, is scheduled to appear next Wednesday in Benton County ...

Figures show local home prices increase slightly - St. Cloud Times
Prices of homes sold in Stearns and Benton counties during the third quarter improved slightly, according to figures released Tuesday. However, data suggest the housing market is still struggling. Third-quarter results from the Office of Federal ...

COMMON PLEAS - Salem News Online
Discover Bank v. Eric T. Rogers of East Liverpool and Shell Oil; collection sought of $2,281 judgment. Deutsche Bank National Trust v. Joseph and Sherry Cline, etc; foreclosure sought against property on Esther Avenue, Wellsville. CACV of Colorado v ...

Home Deal Fails For Centerton Families - Morning News
CENTERTON -- James and Patricia Leach of Bentonville couldn't believe their luck in September 2006 when they were approved to buy a home. The recently married couple found their dream home in Centerton. But two years, two months, and $51,000 later ...

$20.6 Million in Low Income Housing Tax Credits Will Create Jobs, Help ... - Earthtimes
LANSING, Mich. , Nov. 25 /PRNewswire-USNewswire/ -- Governor Jennifer M. Granholm today announced that over 2,100 units of affordable rental housing will be built or renovated for low to moderate-income Michigan families, the elderly, people with ...

From the police report... - Spokane Spokesman-Review
State Rep. Geoff Simpson, D-Covington, was arrested Sunday afternon on charges of fourth degree assault and interfering with reporting of domestic violence. He says -- see below -- that the charges are baseless and that he'll be exonerated. In ...

16 charged in mortgage fraud schemes - Newsday
Sixteen people have been charged with involvement in two Long Island -based mortgage fraud schemes which lost lenders $13 million, federal officials said Wednesday. The charges, unsealed Wednesday in Brooklyn federal court, accused one group of ...

Mail Thefts in Butler County - KWCH.com
The zip code is 67017. The crime is mail theft. "I could not believe that someone actually had done that to us," says Benton area resident Stephanie Cowman. It started with an outgoing mortgage payment the postman never picked up and the bank never ...

Nicholas F. Benton: Aborting Deflation - Falls Church News-Press
The news came yesterday that for only the seventh month since 1947, October 2008 marked a one-percent decline in the Consumer Price Index (CPI), suddenly raising the specter of things far worse than a mere recession, but a deflation and depression ...

Financial firms face probe in subprime-mortgage fallout - Seattle Times
U.S. prosecutors are adding employees to investigate New York-area financial firms for possible fraud linked to a global credit crisis that has wiped out $30 trillion of equity value in the past year. The extra personnel will use strategies that ...

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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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