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News about Mortgages:
Councilwoman Evans grills finance director - Nashville City PaperDistrict 23 Councilwoman Emily Evans pressed Metro Finance Director Richard Riebeling about his decision to refinance $59 million in municipal bonds during an uncomfortable Council budget and finance committee hearing on Monday. Evans, who has a ...
Water park in idea phase - Leaf ChronicleA week after Clarksville Mayor Johnny Piper announced his intention to include a water park in plans for a marina at a redesigned Fairgrounds Park, few new details have emerged. "I've committed to providing a nice water park with nice amenities to it ...
Metro may borrow $59M from Clarksville - Nashville PostMetro Council will consider a resolution at its meeting next week to approve a $59 million loan agreement with the Clarksville Public Building Authority. The loan agreement would refinance an adjustable-rate municipal bond issued in 2006 during Mayor ...
Metro forced to remedy $59M in bonds - Nashville City PaperA potential loan agreement between Metro and the Clarksville Public Building Authority came after a German bank had its rating downgraded, leaving Metro looking at a ballooning repayment rate on $59 million in variable-rate bonds. When the German ...
Alexander and Tuke give positions on the issues - Leaf ChronicleALEXANDER: I supported the recommendations of the Iraq Study Group and the "surge" led by Gen. David Petraeus, so that we could make progress in Iraq and Afghanistan, move our military from a combat position to a support role without deadlines for ...
General Growth Properties risks default - WREGCHICAGO (AP) - General Growth Properties Inc. shares plummeted Tuesday after the Tennessee mall owner warned it faces solvency trouble and may be forced to file for bankruptcy. The company said it needs to refinance or extend nearly $1 billion in ...
Bankruptcy Looms For Owner Of 2 Area Malls - WLWT 5CHICAGO -- The owner of two area malls faces bankruptcy, according documents filed earlier this week. General Growth Properties Inc. shares have plummeted after the mall owner warned it faces solvency trouble and may be forced to file for bankruptcy ...
Ala Moana, Ward Centers owner facing bankruptcy - Honolulu Star-BulletinGeneral Growth Properties Inc. , owner of Ala Moana Center and Ward Centers in Hawaii, said yesterday it is facing the possibility of bankruptcy if it fails to refinance or extend nearly $1 billion in debt due next month. The real estate investment ...
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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