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Judge lifts restrictions on BALCO testimony - FOX News
SAN FRANCISCO — Thousands of pages of grand jury testimony related to the long-running steroids investigation of Barry Bonds and other athletes were unsealed Wednesday by a federal judge. U.S. District Court Judge Susan Illston signed an order that ...

Centro sees demand weakening - The Age
The Centro group of properties is seeking an ''efficient outcome'' to the billion-dollar class actions currently being waged against it by disgruntled shareholders as it seeks to refinance a key parcel of debt in two weeks' time. Speaking at the ...

Lender aid expected to trickle down - Santa Rosa Press Democrat
If you're buying a home, refinancing a mortgage or seeking an auto or student loan, the new government plans to make borrowing cheaper and easier sound like a gift. One problem, however, is that whole categories of people may be ineligible. If you ...

Muslim Charity, Leaders Convicted on Charges of Funding Terror - FOX News
The Holy Land Foundation for Relief and Development office in Richardson, Texas, in this 2001 file photo. DALLAS — A Muslim charity and five of its former leaders were convicted Monday of funneling millions of dollars to the Palestinian militant ...

'Black Friday' won't stave off black days ahead: Analysts - Ottawa Sun
WASHINGTON (AP) — U.S. retail shoppers hunting for holiday bargains on ”Black Friday” won’t be enough to stave off what’s likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims ...

U.S. Consumer Loan Aid Will Only Trickle So Far - Free Internet Press
If you’re buying a home, refinancing a mortgage or seeking an auto or student loan, the new government plans to make borrowing cheaper and easier sound like a gift. One problem, however, is that whole categories of people may be ineligible. If you ...

The Buzz: Dispelling retail myths - Post-Crescent
Most people by now have gotten multiple copies of the e-mail circulating on the Internet about massive store closures. It's true some retailers are closing or cutting underperforming stores in this weak economy. The e-mail, however, contains some ...

OZ Minerals to defer projects and cut operating costs - WebWire
OZ Minerals will defer several capital projects and make substantial cuts to operating cost budgets as a result of the review of capital and operating expenditure it announced to the market recently. The Company has also identified further synergy ...

November 2008 - Weblogs.baltimoresun.com
Reader Dave sends this nice letter to Obama's change.gov Web site, a propos of Saturday's column on layoffs. Dear President-elect Obama, Normally, I do not comment or send letters to elected officials, but since we are all looking for positive change ...

Unhand that economy, villein! - Meganmcardle.theatlantic.com
I've been thinking about this for awhile. How much of this current crisis is just a manifestation of the American--indeed human--will? We're always talking about politicians deluding us and Wall-Street manipulating us, and predatory lenders conning ...

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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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