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Big Three automakers to submit plans to Congress - Lincoln Daily News
General Motors Corp., Ford Motor Co., and Chrysler LLC would refinance their companies' debt, cut executive pay, seek concessions from workers and find other ways of reviving their staggering companies. U.S. automakers are struggling to stay afloat ...

Water Tower Place - Chicago Tribune
You can't walk five steps in Chicagoland without bumping into a holiday model train display this year. Morton Arboretum has one. So does Chicago Botanic Garden. And the John Hancock Center. And the Lincoln Park Conservatory. And the Museum of ...

Debt-hit Dublin pubs seek bankruptcy protection - WTOP Radio
DUBLIN, Ireland (AP) - Dublin 's premier pub-running company won bankruptcy protection Friday in a surprising sign that Ireland 's credit crunch is pushing even the most liquid of businesses to the breaking point. High Court Justice Brian McGovern ...

GM, Ford, Chrysler plans to Congress at a glance - PR Inside
The Detroit Three automakers, making a second bid for federal loans, presented Congress with plans Tuesday to restructure their ailing companies and provide assurances that the funding will help them survive and thrive. General Motors Corp., Ford and ...

Ford tells Congress it may be able to go it alone - Motley Fool
Ford Motor Co. is asking Congress for a $9 billion "stand-by line of credit" to stabilize its business, but says it doesn't expect to tap it. Unless one of Detroit's other Big Three auto companies goes bust, Ford expects to have enough money to make ...

Ford Motor (F) Submits Business Plan To Congress - StreetInsider.com
Based on current business planning assumptions, Ford expects both its overall and its North American Automotive business pre-tax results to be breakeven or profitable in 2011 Ford provided initial details of an accelerated vehicle electrification ...

Ford Motor Company Submits Business Plan To Congress; Profit Target ... - WebWire
* Based on current business planning assumptions, Ford expects both its overall and its North American Automotive business pre-tax results to be breakeven or profitable in 2011 * Ford provided initial details of an accelerated vehicle electrification ...

Big Three automakers pledge to slash and burn for federal lifeline - Fort Worth Star-Telegram
Wagoner WASHINGTON — Humbled and fighting for survival, Detroit’s once-mighty automakers appealed to Congress with a retooled case for a huge bailout Tuesday, pledging to slash workers, car lines and executive pay in return for a federal lifeline ...

GM exec.: bankruptcy not an option for industry - Post-Crescent
WASHINGTON - A top executive of General Motors Corp. said Wednesday bankruptcy isn't a viable option, as the United Auto Workers braced for a decision on contract concessions to the endangered Big Three. Fritz Henderson, president and chief operating ...

Automakers plead case to Congress - Daily Journal
WASHINGTON -- Humbled and fighting for survival, Detroit's once-mighty automakers appealed to Congress with a retooled case for a huge bailout Tuesday, pledging to slash workers, car lines and executive pay in return for a federal lifeline. GM said ...

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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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