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News about Mortgages:
7 Ways for Obama to Save the Housing Market - US News and World ReportThe 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 ...
Councilman opposes logging - Hawk EyeIt's a move that will earn the city of Burlington a profit and help to reinvigorate the ecology of Otter Island, according to a forestry expert hired by the city. However, not all members of the Burlington City Council are on board with a plan to ...
Apartment building owner asks to forgive $1M loan - Hawk EyeCity officials are as much in the dark as the tenants who were evacuated during June flooding as to when they can return to the Burlington Apartments. "I can't tell you when they will be allowed to go back," City Manager Doug Worden said at Monday's ...
Collier foreclosures hit working class - Naples Daily NewsIn Collier County, it’s the more affordable communities that have been hurt the most. From Jan. 1 to Oct. 8, the county had 1,500 final judgments for mortgage foreclosures on single-family homes, with a total mortgage balance of more than $522 ...
Church on auction block - Cincinnati.comIt might take a miracle to save a Hamilton Township church from the auction block. The mortgage holder for Crosspointe Community Church has called in its loan. Now, the multi-purpose building and 26 acres on Cozaddale-Murdock Road in Warren County is ...
Upbeat local real estate market bucks trend, 'best in years' - Storm Lake Pilot TribuneThere's one way to avoid a crash - don't stand on the edge of the cliff to begin with. Such is the case with Storm Lake's real estate market, which is enjoying an exceptionally strong year even as other parts of the country hit the highly-publicized ...
Text-only Version - 24 Hour MuseumTo mark the 90th anniversary of the end of World War One, people's memories of the conflict will be brought to life during National Storytelling Week at Dewsbury Museum On Sunday January 27, a First World War soldier played by professional actor Ben ...
INDUSTRY NEWS & PEOPLE July 2007 - Business Travel ExecutiveThe Association of Corporate Travel Executives has named Jerome Drevon-Barreaux, global travel manager for Capgemini, as the new regional chair of ACTE Europe. A more than 10 year veteran of the business travel industry, Drevon-Barreaux directs a T&E ...
Can Darling kickstart lending? - bbcIt's clear from comments posted on my blog that there's a widespread misunderstanding about what the massive taxpayer bailout of our banks was designed to achieve or could achieve. The primary motive of the £400bn of additional taxpayer support ...
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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