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Mason County Eastern may refinance bonds - Ludington Daily News
CUSTER — Mason County Eastern may save money by refinancing the bonds it sold to pay for construction of its high school in 1995 and for renovations and additions to its elementary school in 1999. The school district still owes $3,780,000 on the ...

Owner of 7 malls in Washington faces possible bankruptcy - Seattle Post Intelligencer
A Chicago company that owns seven mall properties in Washington state faces financial trouble and possibly bankruptcy, but its shopping centers will continue to operate as usual. General Growth Properties Inc. operates Westlake Center in downtown ...

State to hold bond sale for residents - Boston Globe
Intent on replicating the success of a September marketing pitch to individual investors, the state will hold an exclusive bond sale tomorrow and Tuesday for individuals before making its latest offering available to institutional customers Wednesday ...

Weaver Auto steers clear of foreclosure — for now - Union
KeyBank has decided to postpone foreclosure proceedings against Weaver Auto and Truck Center until at least April 17, owner Tom Weaver said Monday, averting plans to auction off the property on the courthouse steps next month. The decision gives ...

NeighborWorks America Honors HUD’s Assistant Secretary for ... - PR Inside
Today NeighborWorks® America announced that Brian D. Montgomery, Assistant Secretary for Housing and Federal Housing Commissioner of the U.S. Department of Housing and Urban Development (HUD), is the recipient of the 2008 NeighborWorks® Government ...

News briefs: County wants land for dredging project - Herald Tribune
BRADENTON -- Manatee County intends to ask a judge to decide what is a fair price for a strip of land that engineers say is needed for the Wares Creek dredging project. The county wants to acquire an easement from Bradenton Tropical Palms, a mobile ...

Suthers cracks down on mortgage ads - Denver Business Journal
Three Colorado mortgage brokers have reached settlements with state Attorney General John Suthers to end what Suthers called the “deceptive use of teaser rates in mortgage-loan advertisements” in Denver newspapers. The agreements were part of a ...

Rivals to this day - Columbus Dispatch
E. Gordon Gee, left, president of Ohio State University, sought an on-campus arena in the 1990s. Then-Columbus Mayor Greg Lashutka wanted an arena Downtown. After years of failed efforts, it was becoming clear in 1994 that Columbus was on the verge ...

City stays with Main Street - Hawk Eye
When it comes to supporting Main Street Iowa, Burlington City Council members believe in the old adage, "If it's not broke, don't fix it." During regular session Monday, the council approved a resolution in support of the program with more than two ...

Economic woes hit area hospitals - Bend Bulletin
We welcome comments from subscribers (E-Edition or print). Comments are solely the responsibility of those who post them; their viewpoints are not endorsed by The Bulletin or bendbulletin.com. The Bulletin and bendbulletin.com reserve the right to ...

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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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