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News about Mortgages:
A Rush Into Refinancing as Mortgage Rates Fall - The LedgerThe housing market may finally be getting some relief, with lower mortgage rates already encouraging refinancing and Treasury officials considering ways to entice new buyers. Click to enlarge Low rates enticed Javier and Irina Lattanzio to refinance ...
A rush into refinancing as U.S. mortgage rates fall - International Herald TribuneThe U.S. housing market may finally be getting some relief, with lower mortgage rates already encouraging refinancing and Treasury officials considering ways to entice new buyers. Last week, the Federal Reserve announced that it would buy $500 ...
U.S. Eyes Plan to Lift Home Sales - Wall Street JournalWASHINGTON -- The Treasury Department is considering a plan to revitalize the U.S. home market that would push down interest rates for loans to purchase a home, according to people familiar with the matter. The plan, which is in the development stage ...
Despite slumping real estate market, Madison's newest cohousing ... - Wisconsin State JournalAmid the toughest real estate market in a generation, a group of self-described amateurs has pulled off something of a miracle: selling all but three units in the 40-unit Arboretum Cohousing project. Long popular in Scandinavia but relatively new in ...
Minorities in loan crush: Hopeful home owners hit hard by credit ... - New York Daily NewsBronx homeowners and homebuyers are having more trouble obtaining credit than their counterparts in any other borough, with black and Hispanic buyers suffering the worst, according to a new report. The Bronx saw the largest drop in the number of home ...
'NO-BAILOUT' BLUES - New York PostA federal plan to bail out homeowners struggling to make subprime mortgage payments is anything but a freeze-for-all: While it saves some New Yorkers from deepening debt, their next-door neighbors are left to drown. In Jamaica, Queens, Evelyne ...
PEACOCK PARTY - New York PostTHE Peacock network is looking for space so it can expand its wings. Our media spies say NBC is seeking 300,000 feet of "incremental" space to add to its current office digs, which include its headquarters at 30 Rockefeller Plaza. You might recall ...
McCain gives up on his mortgage plan - SalonAbout two weeks ago, John McCain, in a high-profile speech, unveiled his response to the mortgage crisis. Despite the seriousness of the challenge, the GOP presidential nominee unveiled a classic YOYO policy: "You're on your own." As the New York ...
Big Greed On Small Street - BusinessWeekIn the tsunami of news regarding the economic crisis and government bailout, the narrative that has formed largely follows the line of a greedy Wall Street swindling the victims of Main Street. So, it was with great interest that I read a brief ...
Foreclosure mediation, relief for the 'little guy' - Minneapolis Star TribuneDoesn't your assertion that "no one can force a bank to make a loan" apply to the borrower as well. No one forces a borrower to accept the … read more mortgage terms. It's a 100% the banker correct, and the borrower bears no responsibility? By your ...
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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