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ProLogis Closes $104.7 Million Portfolio Financing for ProLogis North ... - Denver Post
DENVER, Dec. 2 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities and services, announced today that it has closed a $104.7 million, secured financing with a large institutional investor on behalf of ...

Fed Aid Sets Off a Rush to Refinance - Wall Street Journal
The Federal Reserve's attempt to stabilize the housing market set off a chain reaction across the U.S. on Tuesday, dropping interest rates and quickly spurring a burst of refinancing activity by borrowers eager to lower their mortgage costs. Some ...

Credit tight for hospitals, colleges - Milwaukee Business Journal
The national credit crunch is taking its toll on southeast Wisconsin hospital systems and one Milwaukee-area university as they have been forced to scale back plans for refinancing debt and, in one case, financing construction projects. The difficult ...

General Growth Properties gets loan reprieve - Buffalo News
General Growth Properties Inc. has received a two-week extension on mortgage loans totaling $900 million, as the troubled shopping mall owner works to stave off bankruptcy and negotiate longer-term extensions with lenders. The mortgages cover two ...

Homeowners say no help from lenders - Contra Costa Times
DAWN AGUIAR sits outside her Fremont home Thursday. She says she tried to work on her mortgage problem, but the lender talked down to me like I was a deadbeat. ( AHBECK/STAFF) Numerous homeowners who have beseeched lenders for help with restructuring ...

Aurora schools deserve the support of voters - Denver Post
It is a difficult time for any ballot question asking voters to commit to new expenses. But we hope Aurora voters will give careful — and positive — consideration to funding requests from Aurora Public Schools. The district is asking for a $215 ...

Magna Entertainment Corp. Announces Extension of Senior Secured - MSN MoneyCentral
AURORA, ON , Nov. 17 /PRNewswire-FirstCall/ - Magna Entertainment Corp. ("MEC" or the "Company") (NASDAQ: MECA; TSX: MEC.A) today announced that it has extended the maturity date of its $40 million senior secured revolving credit facility (the ...

Maryland voters approve video lottery terminal initiative - CNW Group
AURORA, ON, Nov. 5 /CNW/ - Magna Entertainment Corp. ("MEC" or the "Company") (NASDAQ: MECA; TSX: MEC.A) is pleased to report that on November 4, 2008 Maryland voters approved the proposed state constitutional amendment authorizing the State to issue ...

Hospital bonds are latest credit casualty - Milwaukee Journal Sentinel
The Aurora Women's Pavilion at West Allis Memorial Hospital was built with money from a bond issue. Aurora Health Care negotiated a default rate on its bonds that is linked to an index that is low at the moment. The spreading contagion in the nation ...

Magna Entertainment Corp. Announces Extension of Senior Secured ... - CNW Group
AURORA, ON, Nov. 17 /CNW/ - Magna Entertainment Corp. ("MEC" or the "Company") (NASDAQ: MECA; TSX: MEC.A) today announced that it has extended the maturity date of its $40 million senior secured revolving credit facility (the "Senior Bank Facility ...

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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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