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Fed Aid Sets Off A Rush to Refinance - Wall Street JournalThe 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 ...
DNA Test Solves Cold Case of Newborn Found Dead in Backpack - FOX NewsLEMONT FURNACE, Pa. — Advanced DNA testing techniques identified the mother of a dead newborn who was found inside a backpack in a creek more than eight years ago, state police said Tuesday. Sarah Sue Hawk, 25, was charged Friday with criminal ...
November 2008 - Weblogs.baltimoresun.comReader Dave sends this nice letter to Obama's change.gov Web site, a propos of Saturday's column on layoffs. Dear President-elect Obama, Normally, I do not comment or send letters to elected officials, but since we are all looking for positive change ...
How to Pay for Home Remodeling - Smart MoneyANSWER: Having some equity in your home may sound like a quaint notion these days, but it still makes the best financial sense. Plus, in today's rocky housing market, it may even be required for borrowers with less-than-perfect credit. "If you can't ...
Getting mortgage easier than some other credit - San Francisco GateAbsolutely. It would be a big stretch to label housing the sunny side of the market at the moment, but there's a lot more light there than in most other financial sectors. Consider these facts: -- There is no shortage of money available for home ...
Heavy Rain Causes Flooding, Evacuations in Western Washington - FOX NewsNov. 12: Jerry Plymire steps over sandbags after helping to prepare the apartment building that he owns for expected floodwaters. SEATTLE — A small dam failed and caused minor flooding in Cosmopolis as heavy rain resulted in flood warnings ...
South African Stocks: Argent, Merafe, Sasol, Standard, Telkom - BloombergBy Vernon Wessels Nov. 10 (Bloomberg) -- South Africa's FTSE/JSE Africa All Share Index rose for the first time in four days, adding 1,022.27, or 5.1 percent, to 21,052.75. The following were among the most active stocks in the South African market ...
Paul Domowitch: Wall Street woes could affect a team near you - FOXSports.comCowboys owner Jerry Jones, whose $1.2 billion showplace is scheduled to open next season, is trying to borrow $350 million by the end of the month to help refinance an existing loan and pay for cost overruns on the stadium, according to Sports ...
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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