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Russia's VEB decides to refinance commercial banks' foreign debt - RIA Novosti
VIENNA, November 30 (RIA Novosti) - Russia's national development bank Vnesheconombank (VEB) has made a decision to refinance foreign liabilities of commercial banks, Central Bank First Deputy Chairman Alexei Ulyukayev said on Sunday. Speaking at the ...

As Loan Rates Fall, Borrowers Seek 'Taste of the Bailout Pie ... - Washington Post
Would-be mortgage borrowers have rushed to refinance their loans and even weighed plans to buy homes following the government's move this week to loosen consumer lending. With interest rates suddenly plummeting, "the phone is ringing, the e-mails ...

U.N. Urged to Take Action Against Killer Asteroids - FOX News
An artist's impression of an asteroid striking the Earth. An artist's impression of an asteroid striking the Earth. VIENNA, Austria — It is disaster planning on a galactic scale: Space experts want to come up with a contingency plan on what to do ...

Atomic Agency Chief Baffled at Lack of Syria Nuke Information - FOX News
VIENNA, Austria — The chief U.N. nuclear inspector said Thursday that his agency's Syria probe has been hampered because key satellite images of an alleged nuclear reactor bombed by Israel are inexplicably unavailable on the market. International ...

Europe's financial crisis is spreading eastward - Christian Science Monitor
Berlin - A rapidly mounting currency crisis within Eastern Europe is threatening to spill across the wider European Union, an event that could spark a second epicenter in the global financial crisis, economists say. That's why the International ...

Gazprom CEO says foreign cash available - paper - Reuters
VIENNA, Oct 30 (Reuters) - Russian gas export monopoly Gazprom (GAZP.MM: Quote , Profile , Research , Stock Buzz ) is not worried by its financial position and can use more credit lines from foreign banks if needed, its chief executive was quoted as ...

Austria mulls taking stake in Kommunalkredit - Reuters
VIENNA, Oct 28 (Reuters) - Austria's finance ministry is considering taking an equity stake in public sector financier Kommunalkredit [KKAT.UL] to improve the lender's rating, a ministry spokesman said on Tuesday. Talks were proceeding about how big ...

Oil Supertanker Owners in Ransom Talks With Somali Pirates - FOX News
The Sirius Star tanker conducts a trial run in South Korea in this undated file photo. The Saudi foreign minister says the owners of a hijacked oil tanker are negotiating with the pirates that are holding it. Prince Saud Al-Faisal spoke Wednesday ...

Transcript: Color of Money Book Club - Washington Post
In her last book club column , Michelle wrote: "...some occupations and industries can withstand business downturns better than others. During a recession, people may curtail their shopping or hold onto their cars for a few more years, but the sick ...

Election 2008: Barack Obama in the news - Newsday
Georgia residents packed polling places as early voting began in earnest this week, waiting as long as eight hours in line to cast ballots and forcing some voting sites to stay open deep into the night. Polls have been open in Georgia since Sept. 22 ...

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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.

    View all Terms
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