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News about Mortgages:
Report says 3.1 percent of Conn. mortgages overdue - NewsdayHARTFORD, Conn. - Connecticut 's rate of mortgage foreclosures and seriously delinquent home loans has reached its highest level on record for at least the past several decades, according to a new report. The Mortgage Bankers Association's analysis ...
Foreclosures In Connecticut, Nation At Record Rate - Hartford CourantAs the subprime lending crisis continues to unfold, the rate of foreclosures and seriously delinquent home loans has reached its highest level on record for Connecticut and the nation as a whole. A report Friday from the Mortgage Bankers Association ...
3.1 percent state mortgages overdue - Connecticut PostHARTFORD (AP) -- Connecticut's rate of mortgage foreclosures and seriously delinquent home loans has reached its highest level on record for at least the past several decades, according to a new report. The Mortgage Bankers Association's analysis ...
Henry Paulson's Priorities - Common DreamsBy Bush administration standards, Henry Paulson, the Treasury secretary, is a good guy. He isn't conspicuously incompetent; and he isn't trying to mislead us into war, justify torture or protect corrupt contractors. But Mr. Paulson's actions reflect ...
More Bay Area News - San Francisco GateSlaying victims' family moves to sue S.F. over sanctuary law 08.22.08 Murder conviction reinstated in fatal S.F. dog mauling 08.22.08 Takeover robbers strike at Denny's in Daly City 08.22.08 Hayward victim slain after trying to steal man's jewelry 08 ...
John McCain on the mortgage crisis: "Any assistance must be temporary" - Salon"It is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers." Editor's note: John McCain addressed the mortgage crisis at the Orange Country Hispanic Small Business Roundtable on ...
CONSUMING FIRE - New York PostConsumer spending - the jet fuel that supplies 70 percent of the economic activity in this country - is in danger of being choked off, the result of mounting credit card debt and falling house prices. While the subprime mortgage meltdown and its ...
Lenders cold to the idea of forgiving mortgage debt - Naples Daily NewsA mortgage broker has an idea for reducing foreclosures: Encourage lenders to forgive debt. So far, the notion hasn’t gained traction. Jeff Lazerson, founder and president of the online brokerage Mortgage Grader, believes that some foreclosures ...
You mess in our backyard ... - Arkansas TimesMost interesting news from Stephens Media , if you're into the newspaper business. CABOT - Stephens Media Group today announced the purchase of five Central Arkansas newspapers from Magie Enterprises Inc., a family-owned publishing company that has ...
Over your head? - Toronto StarNeeding a credit card for everyday expenses. Borrowing from one card to pay another. Delaying payment on some bills to defray others. Receiving calls from collection agencies. Falling deeper in the hole month after month. Arguing with a spouse or ...

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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.
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