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News about Mortgages:
MBA students remain upbeat despite Wall Street rout - Lower Hudson Journal newsMBA students remain upbeat despite Wall Street routLower Hudson Journal news, NY - Sep 27, 2008By David Schepp ORANGEBURG - Tens of thousands of workers in the financial sector have lost jobs as the subprime mortgage debacle and subsequent financial ...
City to receive report on Chestnut-Columbia Road - Orangeburg Times DemocratCity to receive report on Chestnut-Columbia RoadOrangeburg Times Democrat, SC - Sep 16, 2008By T&D StaffTuesday, September 16, 2008 Orangeburg City Council is scheduled Tuesday to consider a report from the state highway department on the city’s ...City leaders maintain focus on high-accident intersection Orangeburg Times Democratall 5 news articles
List of 400 richest has a few with ties to SC - Charleston Post CourierList of 400 richest has a few with ties to SCCharleston Post Courier, SC - Sep 21, 2008He's a University of South Carolina graduate, and she's an Orangeburg native and Columbia College alumnus. Known in the horse-racing world for their ...

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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 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.
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