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News about Mortgages:
HUD backs plan to save homes in foreclosure - Journal-NewsHAMILTON — Butler County has submitted a plan to the U.S. Department of Housing and Urban Development to use a $4.2 million federal grant to combat neighborhood blight and foreclosure. Central to the county's plan is an untested initiative to keep ...
State Sen. Boseman faces two more foreclosures - Star News OnlineTwo more of state Sen. Julia Boseman’s properties – an office condominium in New Hanover County and a three-bedroom mobile home in Brunswick County – are being foreclosed upon due to late mortgage payments. Click to enlarge This building at ...
American Tower's profit increases in third quarter - Boston GlobeBoston-based American Tower Corp. , which owns wireless communication towers, said third-quarter profit rose 2 percent on tower revenue growth. Earnings increased to $60.5 million, or 15 cents per share, compared with $59.6 million, or 14 cents per ...
Lake Barrington man led massive swindle, feds say - Arlington Heights Daily HeraldFederal authorities Wednesday took over the case against a Lake Barrington Shores man accused of scamming the elderly and the unsuspecting out of their homes and property. In the process, the feds added numerous accusations against Charles H. Landwer ...
Cautious reception for mortgage plan - Morning CallUse the home in question as their primary residence. Prove they were worthy of credit when they took the original loan. Have provided a down payment on the home. Local housing and banking experts are reacting cautiously to John McCain 's proposal to ...
Bankers weigh in on housing decline - Allentown Morning CallA group of Lehigh Valley bankers says the current housing slowdown won't go away overnight and will affect builders, residents with less-than-stellar credit and businesses considering an expansion. The region will be spared some of the toughest ...
Deep Events and the CIA’s Global Drug Connection - Uruk Net"L'Assemblea Generale dichiara che: la soggezione dei popoli a dominio straniero, conquista e asservimento costituisce una negazione dei diritti umani fondamentali, è contraria alla Carta delle Nazioni Unite ed è un impedimento alla promozione ...
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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