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News about Mortgages:
Business Bankruptcies - Minneapolis Star TribuneBusiness BankruptciesMinneapolis Star Tribune, MN - Nov 23, 2008Alexander Hattar, doing business as Nokomis Grill, 15601 Foliage Av., Apple Valley; filed Nov. 12, 08-35943; Chap. 7; assets, $1771; liabilities, $25303. ...
In North Port, code violators pay dearly - Sarasota Herald-TribuneIn North Port, code violators pay dearlySarasota Herald-Tribune, FL - Nov 29, 2008But to the city, the problem was just beginning -- and that has created problems for Schade's father, a Nokomis retiree who lives in a mobile home and rents ...
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 refinance 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