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Bush Remarks on the Global Economy - Washington Post[*] BUSH: Good morning. Over the past few days we have witnessed a startling drop in the stock market, much of it driven by uncertainty and fear. This has been a deeply unsettling period for the American people. Many of our citizens have serious ...
Text of Bush's remarks Friday on the economy - Boston GlobeBUSH: Good morning. Over the past few days, we have witnessed a startling drop in the stock market -- much of it driven by uncertainty and fear. This has been a deeply unsettling period for the American people. Many of our citizens have serious ...
ECB refinancing rate to thaw money market-Liikanen - ReutersWASHINGTON, Oct 10 (Reuters) - The European Central Bank hopes its decision to lend to banks without limits at its main refinancing rate of 3.75 percent would slowly help unfreeze money markets, ECB Governing Council member Erkki Liikanen said. "We ...
McCain proposes suspending mandatory stock sales - The Washington TimesLA CROSSE, WIS. (AP) - John McCain proposed Friday that the elderly be allowed to hang on to the stocks in their retirement funds and not be forced to sell them in a bad market. The Republican presidential candidate would suspend requirements that ...
Government is running out of options to bolster economy - Miami HeraldWASHINGTON -- Committing $700 billion didn't impress markets here and around the world. Neither did fresh interest-rate cuts. Neither did the idea that the government would become a part-owner of U.S. banks. So what's left in Uncle Sam's economic ...
Countrywide to pay $10M for bad loans - Detroit NewsMore than $9.8 million will be paid to assist Michigan homeowners who have lost their homes to foreclosure and nearly 10,000 residents will be able to refinance their mortgages at lower rates under a nationwide settlement between Countrywide ...
President Bush Delivers Remarks on the Economy - FOX NewsOct. 10, 2008: President Bush makes a statement on the economy in the Rose Garden of the White House in Washington. The following is a rushed transcript of President George W. Bush's remarks on the current state of the economy: GEORGE W. BUSH ...
Is McCain’s Mortgage Plan Even Legal? - The Washington Independent.comIn an interview with ABC’s Charlie Gibson Thursday, Sen. John McCain said his “ Homeownership Resurgence Plan ” to allow the federal government to buy up bad debt from banks and allow people to refinance mortgages they can no longer pay, may ...
If you can buy/refinance now, do it - Chicago TribuneThere was one brief, shining moment in the Wall Street tumult last week that had a few observers quietly hoping that mortgage interest rates might drop. The reasoning: Investors were pouring out of stocks and into bonds. Plus, resolving (to an extent ...
Bush: Anxiety Persists, Economy is Resilient - FOX NewsWASHINGTON — President Bush said Friday that "anxiety can feed anxiety," causing a market panic, but his administration is working aggressively to provide the tools to restore liquidity and sanity to capital markets. In remarks from the White House ...

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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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