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House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News Blogs
ABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...

Burton officials hope HUD money helps redevelop properties - MLive.com
BURTON, Michigan — A share of about $7 million in federal funds that is heading toward Genesee County could end up in Burton. County Commissioner Jamie Curtis, D-Burton, spoke at Monday's City Council meeting about the federal Neighborhood ...

South Carolina tops Winthrop 86-63 - FOX News
COLUMBIA, S.C. — Devan Downey scored 21 points and Mike Holmes and Dominique Archie had double-doubles as South Carolina dominated Winthrop 86-63 Sunday. The win is South Carolina's (2-0) largest margin of victory against the Eagles (1-1) since a ...

Need to know: GM considers options ... Cobra for sale ... JJB offer - Times Online
Pre-Budget Report : The Chancellor will unveil his Pre-Budget Report today and is expected to concede that the economy will contract by up to 1 per cent or more next year, but he will forecast a revival in 2010. He is also expected to unveil tax cuts ...

McCain continues to distance himself from Bush - Dallas Morning News
CLEVELAND – Facing criticism from Barack Obama that he’s too close to President Bush, John McCain has worked in recent days to distance himself from the president. He’s even enlisted some Texans who worked with Mr. Bush in the effort. At a ...

Candidates discuss city budget crisis - Santa Rosa Press Democrat
Candidates for the Petaluma City Council are: top, left to right: Spence F. Burton, Samantha Freitas, David Glass; bottom, left to right: Mike Healy, Karen Nau, Tiffany Renée. Goal(s) for your term: Fill vacant commercial/industrial buildings with ...

Election 2008: Hillary Clinton in the news - Newsday
For Gov. David A. Paterson, there is more at stake than the choice of a U.S. senator to succeed Hillary Rodham Clinton pending a special election in 2010; there is also a statewide Democratic Party ticket to be shaped. WASHINGTON - Hillary Rodham ...

Two prescriptions for economy - Boston Globe
Democrat Barack Obama today launched an unusually long TV ad in which he speaks directly to the camera -- and to voters -- about his plan to get past the financial crisis, change the policies of the current administration, and revive the economy. The ...

Countdown: Final 48 hours - Charleston Post & Courier
COLUMBUS, Ohio — Barack Obama and John McCain uncorked massive get-out-the-vote operations in more than a dozen battleground states Sunday, millions of telephone calls, mailings and door-knockings in a frenzied, fitting climax to a record ...

Joe the Plumber to Campaign for John McCain - ABC News Blogs
ABC News' Bret Hovell reports: Joe Wurzelbacher, aka “Joe the Plumber,” will campaign tomorrow in Ohio for Senator John McCain. Wurzelbacher, the Toledo-area native, will go on a bus tour with former Rep. Rob Portman, a close McCain supporter ...

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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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