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Keeping the house makes for a messy divorce - Los Angeles Times
Reporting from Washington -- Splitting up after years of marriage? Divorce your house, then your spouse. That bit of advice goes against the almost universal desire to hang on to the family home, especially by the spouse who ends up with custody of ...

Judges Need Power To Stem Foreclosure Flood - Hartford Courant
Washington has worked overtime to rescue Wall Street, but has done little to help homeowners caught in the mortgage mess, the crisis that started our economic crash. It is likely to get worse. In 2008, a record 1.6 million homeowners lost their homes ...

Md. sees drop in loss of homes - Baltimore Sun
In a sign that Maryland could be making strides toward helping struggling homeowners keep their houses, foreclosures fell almost 16 percent in the three-month period that ended in September, compared with the second quarter, according to statistics ...

Binding contract require 3 elements - San Francisco Gate
Benny L. Kass The buyer's Realtor requested the deposit back, and my Realtor told me it wouldn't be worth fighting, so I followed her advice. Later, I received another acceptable offer, but the same thing happened, as the buyer withdrew for a lame ...

Appraisers sound alarm on part of new federal standards - Arlington Heights Daily Herald
WASHINGTON - When you apply for a mortgage to buy or refinance a house, should you be concerned that your appraiser is being paid much less - maybe just half - of the $300 to $600 you're charged on your settlement sheet? Should you know who pockets ...

Realty company tied to medical mart project is asking for federal ... - Cleveland Plain Dealer Blog
Cuyahoga County has pinned its hopes for the medical mart on a private-sector partner whose owners are warning the government that they could need a federally funded bailout to survive. Officials at a New York-based mega-landlord called Vornado ...

How the Middle East crisis affects oil prices - Globe and Mail
As the global financial crisis deepens, Report on Business writers examine and explain the turmoil in credit and stock markets. Here, we answer your questions daily, with the most recent at the top. Is the recent jump in oil prices directly related ...

CapeCodToday Blog Chowder - Cape Cod Today
Welcome to CapeCodToday's Blog Chowder! This page aggregates the most recent postings from all the CapeCodToday bloggers for your convenience. Bookmark this page or see below left for RSS options. I remember the OJ trial. There was a lot of evidence ...

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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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