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School for the blind starts visionary newsroom - Newark Star-LedgerEd Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...
Mass. foreclosure petitions spike from past months - Boston GlobeMassachusetts foreclosure deeds rose 18.6 percent to 798 in September from 673 in September 2007, but the September 2008 figure is the fewest number of deeds recorded in any month this year, the Warren Group said today. The Warren Group of Boston ...
Buy a home, save for college - CBS 3 SpringfieldPHILADELPHIA -- There is no question that a college education is valuable, as college graduates are expected to earn over $1,000,000 more than high school graduates during their working lives. That's something worth supporting. Yet while 81 percent ...
More help is available for struggling homeowners - KYTVSPRINGFIELD -- It may have been overshadowed by the bailout plan but a new law that went into effect on Oct. 1 aims to help homeowners keep their homes. The housing and economic recovery act, which went into effect this month, is just one option ...
Illinois' Bright Start(R) 529 College Savings Program Announces a New ... - PR NewswireSPRINGFIELD, Ill., Jan. 2 /PRNewswire/ -- The Illinois Bright Start College Savings Program announced today the availability of the Bright Start Futuretrust MasterCard, available nationwide. For the first time, holders of a 529-linked credit card ...
Election 2008: Hillary Clinton in the news - NewsdayAbout 1,000 union and political activists whooped and shouted their way through a late afternoon rally Wednesday in Eisenhower Park, less than two miles from the site of the presidential debate. Whether you're a follower or an iconoclast, there's a ...
State Agencies Get Creative on Student Loans - Inside Higher EdAs various lenders and some of its peers in other states announced in recent months that they would stop making federal or private loans because of disruptions in the capital markets, the Illinois Student Assistance Commission steadfastly held firm ...
WMACCA Corporate Counsel Awards Honor Washington Area Leaders - EarthtimesWASHINGTON - (Business Wire) The Washington Metropolitan Area Corporate Counsel Association (WMACCA), the largest regional bar association for in-house counsel, announced the winners of the Fourth Annual Corporate Counsel Awards at a ceremony held at ...
Election 2008: Barack Obama in the news - NewsdayGeorgia residents packed polling places as early voting began in earnest this week, waiting as long as eight hours in line to cast ballots and forcing some voting sites to stay open deep into the night. Polls have been open in Georgia since Sept. 22 ...
Ozarks Homeowners Lose Homes They Never Really Owned - KSPR.comWe've heard stories of foreclosures all over the United States; here’s another one, with a twist. Homeowners who pay their mortgage on time are losing their homes; it’s happening to about a dozen families across the Ozarks. After months of ...
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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