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Ford asks Congress for $9B line of credit - Las Vegas Sun
Ford Motor Co. is asking Congress for a $9 billion "stand-by line of credit" to stabilize its business, but says it doesn't expect to tap it. Unless one of Detroit's other Big Three auto companies goes bust, Ford expects to have enough money to make ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. When Deal Journal told people we were going to cover an event honoring the 25 Most Powerful Women in Banking, a common reaction was: “There ...

Voters say yes in Mayo, Boiling Springs fire districts; Holly Springs ... - Spartanburg Herald-Journal
Residents in Spartanburg County faced several referendums, chose several commissioners, and one town elected a councilman. Boiling Springs Fire District voters on Tuesday approved a referendum allowing the district to issue $2 million in bonds to ...

There's Gold In Them Thar Hills! (And I'm Digging For It) - CNBC
Today, I'm a gold digger. Literally. I'm in gold country reporting on the "second gold rush." Would-be gazillionaires began descending on the mother lode country this year as gold prices rocketed. Geologists say 80-90 percent of the gold is still in ...

After the Building Boom - Wall Street Journal
The economy's swoon and Wall Street's woes are taking a particularly specific and tough toll on art museums. The art boom of the past two decades, and the resulting skyrocketing costs of acquisitions and insurance, led museums to staff their boards ...

Bernanke Refusal to Buy Genworth Paper Burdens Banks (Update2) - Bloomberg
Nov. 13 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke 's decision to deny commercial paper financing to all but the highest-rated borrowers is forcing some companies to seek the credit of last resort, backstop loans. Whirlpool Corp ...

Can you have two principal residences at the same time? - Lodi News-Sentinel
Dear Bob: My wife and I are avid readers of your educational articles, especially because we own four properties in three states. Following your suggestion, we put their titles into a living trust so our heirs won't be burdened with probates in ...

Dropping Anchor: Bank's stock plummets, but officials optimistic about ... - Wisconsin State Journal
Madison's largest home-grown bank is smarting. Stung by a series of problem loans -- including $48 million in a bankrupt downtown Milwaukee condo project -- AnchorBank has seen its stock price plummet and its balance sheet deteriorate. Shares of ...

Billionaires Up, America Down - Common Dreams
When it comes to producing billionaires, America is doing great. Until 2005, multimillionaires could still make the Forbes list of the 400 richest Americans. In 2006, the Forbes 400 went billionaires only. This year, you'd need a Forbes 482 to fit ...

EXCO Resources, Inc. Reports Operating and Financial Results for the ... - Businesswire.com
DALLAS--( BUSINESS WIRE )--EXCO Resources, Inc. (NYSE: XCO) today announced third quarter of 2008 results. Adjusted net income available to common shareholders, a non-GAAP measure adjusting for non-cash derivative gains or losses, non-cash ceiling ...

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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
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