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Shoppers have reasons to act like grinches - Cleveland Plain Dealer
WASHINGTON -- Federal Reserve Chairman Ben Bernanke pleaded Thursday for more government action to relieve the foreclosure crisis and break a vicious cycle in which the housing meltdown is plunging the country deeper into recession. Beaten-down ...

DDR, U-Store-It look to markets to raise cash - Cleveland Plain Dealer Blog
Two local real estate investment trusts plan to issue securities to raise cash, according to recent regulatory filings. Developers Diversified Realty Corp., a shopping center owner based in Beachwood, could issue and sell up to $200 million in common ...

U-Store-It Trust may be moving headquarters to Pennsylvania - Cleveland Plain Dealer Blog
U-Store-It Trust appears to be leaving its Cleveland offices, after months of rumors that the longtime local company plans to move its headquarters to Pennsylvania. The self-storage company's executive offices, in Suite 2800 of the Terminal Tower ...

Kucinich: More time for public comment on NCB takeover - WKYC
WASHINGTON D.C. -- Congressman Dennis Kucinich (D-OH) sent a letter Sunday to Federal Reserve Bank Chairman Ben Bernanke, asking him to overrule a decision by Robert Frierson, the Deputy Secretary of the Federal Reserve Board, in order to accommodate ...

Business Diary - Cleveland Plain Dealer
Gasoline prices may be leveling off. The average price in Greater Cleveland and Akron on Monday was about $1.70 — about the same as Sunday — the AAA reported, using calculations provided by the New Jersey-based Oil Price Information Service ...

Kucinich to Bernanke: Public Deserves More Time to Comment on ... - Common Dreams
Congressman Dennis Kucinich (D-OH) yesterday sent a letter to the Chairman of the Federal Reserve Bank, Mr. Ben Bernanke, asking him to overrule a decision by the Deputy Secretary of the Federal Reserve Board, Mr. Robert Frierson, in order to ...

U.S. Bank poised to grow bigger, stronger - Minneapolis Star Tribune
The boss at the biggest Minnesota-based bank says federal regulators will have to get some pension funds, endowments and other investors who own about three-quarters of the nation's mortgages to accept new terms to stem a wave of foreclosures and ...

EDF Defies Buffett With Constellation Nuclear Offer (Update3) - Bloomberg
Dec. 3 (Bloomberg) -- Electricite de France SA , the world’s biggest operator of atomic reactors, offered to pay $4.5 billion for half of Constellation Energy Group Inc. ’s nuclear business to gain generating capacity in the U.S. and thwart a ...

Constellation Rises as EDF Approach Defies Buffett (Update1) - Bloomberg
Dec. 3 (Bloomberg) -- Constellation Energy Group Inc. surged as Electricite de France SA , the world’s biggest reactor operator, offered to pay $4.5 billion for half of the U.S. utility’s nuclear business to gain generating capacity in North ...

Cause and Effect - American Enterprise Institute
Although the media are full of talk that we face a "crisis of capitalism," the underlying cause of the financial meltdown is something much more mundane and practical--the housing, tax, and bank regulatory policies of the U.S. government. The ...

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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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