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Beware the Crusher - FOX News
National Robotics Engineering Center National Robotics Engineering Center National Robotics Engineering Center National Robotics Engineering Center National Robotics Engineering Center National Robotics Engineering Center National Robotics ...

The Credit Crunch Squeezes Municipal Bonds - US News and World Report
Municipal bonds help cities, hospitals, museums, and universities raise cash to build bridges, new dormitories, and wards. They are generally considered some of the safest investments available. But the subprime sludge that has muddied so much of the ...

7 Ways for Obama to Save the Housing Market - US News and World Report
The Great Housing Bailout of 2009 is coming. The recent announcement by Fannie Mae, Freddie Mac, and Citigroup that they plan to reduce mortgage payments for hundreds of thousands of borrowers facing foreclosures may well be just the beginning of ...

Russia appoints minister for 2014 Olympics - International Herald Tribune
MOSCOW : A respected politician with a track record for crisis management was appointed Tuesday to take over preparations for the 2014 Winter Olympics in Sochi at a time when the project could be threatened by the global credit squeeze. Dmitry Kozak ...

Russia's financial crisis fortifies Kremlin's hand - Globe and Mail
MOSCOW — In Russia, the power is suddenly in the hands of those who hold the cash, over those who can't get any. That became clear yesterday, as the Kremlin, which until recently held $500-billion in cash reserves, answered the pleas of the country ...

Exelon Corporation Offers to Acquire NRG Energy, Inc. in $6.2 Billion ... - CNBC
CHICAGO, Oct 19, 2008 (BUSINESS WIRE) -- Exelon Corporation (NYSE:EXC) today announced its proposal to acquire Princeton, N.J.-based NRG Energy, Inc. (NYSE:NRG). Exelon has offered to acquire all of the outstanding NRG common stock in an all-stock ...

Consider the source when buying gift cards - Evening Star
Gift cards are a popular holiday purchase, but buyers and recipients should remember the cards are only as good as the issuer. Federal law does not require retailers and other gift-card issuers to honor the cards in the event of bankruptcy because ...

Obama Needs a Protest Movement - Common Dreams
The astonishing election of 2008 is over. Whatever else the future holds, the unchallenged domination of American national government by big business and the political right has been broken. Even more amazing, Americans have elected an African ...

Bush asks for $700B bailout package - Chronicle-Telegram
WASHINGTON — The Bush administration asked Congress on Saturday for the power to buy $700 billion in toxic assets clogging the financial system and threatening the economy as negotiations began on the largest bailout since the Great Depression. The ...

Another lawyer seeks Waukesha County judge spot - Milwaukee Journal Sentinel
Jennifer Dorow of Delafield said she would seek the vacancy created by Circuit Judge Mark Gempeler's pending retirement. Dorow worked as a prosecutor in the Waukesha County district attorney's office for nearly five years and now is doing criminal ...

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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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