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Auto Sales Struggle As Big 3 Seek Deal - WSOC-TVThe Big Three automakers aren't the only businesses being hit hard by the turmoil in the auto industry. As General Motors Corp., Chrysler LLC and Ford Motor Co. face a Tuesday deadline to make their case to Congress for $25 billion in loans, car lots ...
ANALYSIS: Bad news is trickling in from across the nation: The ... - Columbia MissourianWASHINGTON — The full scope of the housing meltdown isn’t clear and already there are ominous signs of a new crisis — one that could turn out the lights on malls, hotels and storefronts nationwide. Even as the holiday shopping season begins in ...
Columbia Association board members split on downtown development plan - Howard County TimesHoward County Council members are not the only ones who will have to approve General Growth Properties’ plan to redevelop downtown Columbia in the coming months. Because it owns several parcels of land in downtown, including Symphony Woods, the ...
Treasury Ponders Rate Relief for Home Buyers - Smart MoneyWASHINGTON (Dow Jones) -- 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 ...
General Growth gets loan break - Baltimore SunShopping mall owner General Growth Properties Inc. is getting a two-week extension on $900 million in debt that had been scheduled to come due last week as the company works to stave off bankruptcy and negotiate longer-term extensions with lenders ...
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. Now that Hank Paulson has transformed the U.S. Treasury into Goldman Sachs South–buying, selling, lending to and merging companies–it ...
Obama: So far so good - Napa Valley RegisterWith the appointment of Christine Romer to head up his council of Economic Advisors, the key person to advise the President on economic policy, Obama has put in place an economic team that consists of centrists if not right of center policy makers ...
Home Value Highwire - WTOP RadioWASHINGTON - If you want to buy in today's housing market, you may not be able to seal the deal or get a loan, unless you have cash and good credit. You need cash to close the deal. The days of zero-down are gone. That's the new reality of the ...
House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News BlogsABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...
General Growth shares dive - Baltimore SunGeneral Growth Properties Inc. shares plummeted yesterday after the nation's second-largest mall owner warned it faces solvency trouble and may be forced to file for bankruptcy if it can't refinance or extend nearly $1 billion in debt due next month ...
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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