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News about Mortgages:
Chetek family of eight partners in newest Habitat home - TriVallyCentralPictured are construction manager Craig Cousins, of Milltown, volunteer Rick Candler, of Barron, and future homeowner Marvin Rahm-Jost shingling the roof. It may have taken some patience, but Marvin and Donnette Rahm-Jost, of Chetek, are seeing the ...
Economy aside, bank still set on Forney site - East Brunswick SentinelThough Valley National Bank is feeling the squeeze of the economic crisis, it will continue its efforts to raze the historic Forney Clinic building in Milltown and replace it with a bank branch, according to bank attorney Pete McArthur. "I can tell ...
Primed and proud after win - Delaware OnlineWILMINGTON -- With one mighty left-handed swat of his bat in the first inning of the Phillies' first World Series game in 15 years, Chase Utley electrified Tuesday night's packed house at Grotto Pizza. "I love it! Chase Utley! Yeeooww!" rejoiced Erin ...
Area Phillies fans gather to cheer on tense win - Delaware OnlineWILMINGTON — With one mighty left-handed swat of his bat in the first inning of the Phillies’ first World Series game in 15 years, Chase Utley electrified Tuesday night’s packed house at Grotto Pizza. “I love it! Chase Utley! Yeeooww ...
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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