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News about Mortgages:
Mall owner nears bankruptcy - EnterpriseUnless it can refinance or extend $1 billion in debt by next month, the Chicago-based company that owns the Silver City Galleria may be forced to file for bankruptcy. But that doesn’t mean the mall will close, said Richard Shafer, Taunton’s ...
Malls face crunch - Taunton GazetteNews that the Chicago-based owner of the Silver City Galleria is facing financial difficulties — and potential bankruptcy — is a sign of the current worldwide economic crisis, according to a major retail trade organization. “The problem right ...
Treasury Denounced Over Bailout - Gainesville SunWASHINGTON — The Treasury secretary, Henry M. Paulson Jr., on Tuesday rejected pleas to use money from the $700 billion bailout program to help homeowners avoid foreclosure or to stave off bankruptcy by Detroit’s Big Three automakers. Click to ...
Business Digest - Providence JournalBoston-based Fidelity Investments, one of the biggest employers in Rhode Island with more than 2,400 workers in Smithfield, confirmed yesterday that it will eliminate about 1,700 jobs in the first three months of next year, adding to previously ...
Tech companies may be next to get swept up in restructuring wave - International Herald TribuneNEW YORK : Technology companies may be the next group swept up in a restructuring wave that began on Wall Street. Purchases of computer hardware, software and services have already been affected by the global credit crisis, which has slowed lending ...
Tech Sector May be Next in Restructuring Wave - CNBCTechnology companies may be the next group swept up in a restructuring wave that began on Wall Street. Purchases of computer hardware, software and services have already been affected by the global credit crisis that has slowed lending, and a broad ...
Taunton mall owner nears bankruptcy - EnterpriseUnless it can refinance or extend $1 billion in debt by next month, the Chicago-based company that owns the Silver City Galleria may be forced to file for bankruptcy. But that doesn’t mean the mall will close, said Richard Shafer, Taunton’s ...
Loans came easily, then fell apart - Milwaukee Journal SentinelWhile earning a salary of $21,000 a year, Leesa Robinson landed on top of the real estate world in 2006, overseeing nearly $1 million in property. The 45-year-old single mom started buying houses after watching late-night infomercials and their tales ...
Expert: Foreclosures ripped through some places like hurricanes - Visalia Times-DeltaWASHINGTON — It wasn't long ago that the downturn in housing was mainly focused in specific cities with artificially inflated prices. But the mortgage lending crisis that has pushed the nation's financial services sector into a meltdown has spread ...
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