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News about Mortgages:
GAP bridges home crises - Nashville TennesseanIn March 2006, Teresa Burns glimpsed at a murky future. While attending a U.S. Department of Housing and Urban Development event, Burns learned that Tennessee had been identified as a high-risk state for real estate foreclosures. "They showed this ...
Brentwood council purchases new water bonds, pays off $1.8 million - Contra Costa TimesBRENTWOOD — The Brentwood City Council voted Tuesday night to purchase a new series of water bonds to fund the new water treatment facility, pay off $1.8 million and refinance the remainder of a bond purchased in 1996. The city has $7.7 million ...
Galleria parent may seek protection - St. Louis Business JournalGeneral Growth Properties, owner of the St. Louis Galleria in Brentwood and 200 malls nationwide, says it may be forced to seek protection from its creditors as it struggles to refinance debt. The company’s stock tumbled as much as 70 percent in ...
More Business - San Francisco GateNeighborhoods with affordable home prices, a historical popularity with minority home buyers, and a lot of new construction have been more prone than others to spikes in foreclosures, according to a Chronicle analysis of housing and census data ...
Register for FREE - Wall Street JournalANTIOCH, Calif. -- When the Federal Deposit Insurance Corp. seized control of IndyMac Bancorp -- the nation's 10th-largest mortgage lender by loan volume -- the agency vowed to ease terms for many of its troubled borrowers. In doing so, the FDIC ...
It doesn't compute: Obama's tax plan a ruse - New Hampshire Union LeaderSen. Barack Obama claims that if only we let him raise taxes on a measly 5 percent of "working Americans," he could do great things. Well, that sounds just peachy. Tax the rich, give to everyone else. Except there's one little detail the national ...
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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