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News about Mortgages:
A Hanging Offense - Wall Street JournalYesterday we noted a story about liberals, prompted by the election of Barack Obama, making sudden shows of patriotism after shunning such displays for the past eight years. We wondered if the same thing had happened on the other side--that is, if ...
McCain: No there there for Obama - Boston GlobeIn his first post-debate appearance, John McCain promoted his plan to have the federal government directly buy mortgages and refinance them at lower interest rates to help beleaguered homeowners. "We need to act quickly and decisively," he told ...
What the meltdown means to me, a 35-year-old married West Coast ... - Walletpop.comDespite my Ivy League MBA and my role as a founder of a personal finance web site, I haven't done much in the way of planning my financial situation. All of my financial milestones in the past decade or so have been accidental, serendipitous, or just ...
Why Does College Cost So Much, and Is It Worth It? - FOX News"Thank you for airing a program about real issues, real people, and real problems. Americans want to hear how to solve our everyday problems, not about other countries problems. We all struggle to pay bills and want to know how to afford to send our ...
Pearlstein: Who to blame for the financial crisis - Bloggingstocks.comWashington Post Business Columnist Steven Pearlstein does not 'hold it all in,' as they say, regarding who he thinks is most to blame for the financial crisis. Pearlstein cites the ineptitude of Wall Street and the nation's financial regulators. The ...
Mortgage rules crack down on fees, late changes - Cleveland Plain Dealer BlogFederal housing officials unveiled today the first major mortgage reform in 30 years -- a move that will crack down on junk fees and prohibit lenders from making last-minute changes to home loan documents. So important is the overhaul that the ...
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. So Congress finally approved a bailout plan. Over the coming days, pundits and economists will debate the virtues and pitfalls of the $700 ...
Debt looms for Fortress - Steamboat Pilot & TodaySteamboat Springs — Nine months after outgoing Intrawest chief Alex Wasilov said Fortress Investment Group was prepared to infuse Steamboat Ski Area’s parent company with large amounts of capital, Intrawest faces an Oct. 23 repayment deadline on ...
Report: Home-builders lobby -- again -- for tax breaks for buyers - Los Angeles Times BlogsA quickie from the Wall Street Journal today : "Home builders, including Stuart Miller, chief executive of Lennar Corp., are lobbying for a $15,000 to $20,000 tax credit to spur demand, saying the $7,500 credit passed by Congress in July has failed ...
John S.W. MacDonald - New York ObserverA new Health Department website tracks the spread of rats throughout the city. [NYDN] According to the Health Department’s Rat Information Portal, Williamsburg and Greenpoint have more rats than south and central Brooklyn, while Bushwick and Bed ...
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