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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 ...
Affordable Housing in Connecticut Gets $1.8 Million Infusion - EarthtimesGreenwich, Hartford, and New Haven Initiatives Receive Funding for 33 Units BOSTON, Nov. 26 BOSTON , Nov. 26 /PRNewswire/ -- The Federal Home Loan Bank of Boston (the Bank) awarded more than $1.8 million as grants and a subsidized loan to fund 33 ...
Conn. mortgage program helps fewer than expected - NewsdayHARTFORD, Conn. - Connecticut officials say a program created last year to refinance subprime mortgages for financially troubled homeowners is not helping as many people as expected. The Connecticut Fair Alternative Mortgage Lending Initiative and ...
Insurance shares slump, with Hartford down 29 pct - CNBCCHARLOTTE, N.C. - Shares of Hartford Financial Services Group Inc. and other life insurers fell Wednesday as investors grew more concerned about the sector's large exposure to commercial mortgage investments and the variable annuity business. Shares ...
The Greening of Hartford - Hartford AdvocateImani Zito: making a hybrid business. Imani and John Zito have created an oasis of green businesses on New Britain Avenue across from Trinity College. Think of it as an urban homestead, where their six home-schooled children play and study and ...
Nappier says pension fund sound - NewsdayHARTFORD, Conn. - Connecticut 's pension fund portfolio has dropped in value with the recent stock market upheaval, but remains well diversified and no pension benefits are at risk, Connecticut's state treasurer said Monday. Speaking to the ...
Viewer Stories: Retirement Prospects Dim - WSB-TV AtlantaI left active duty as a Navy Lieutenant in 1983, got an MBA from UCLA in two years and then worked on Wall Street for 20 years, while actively participating in the Navy Reserves until retirement in 2007. During my peak earning years, I saved and ...
Life Insurers' Next Crisis May Be Annuities, Cmcl RE-Goldman - CNN MoneyNEW YORK -(Dow Jones)- Life insurance companies face increasing losses in commercial real estate and annuities that may force them to raise capital, Goldman Sachs told clients Tuesday in a bearish shift to its coverage of the sector. The sale of ...
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 ...
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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