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News about Mortgages:
The bailout minefield could be an opportunity for McCain - Dallas Morning NewsThe bailout minefield could be an opportunity for McCainDallas Morning News, TX - Sep 23, 2008Ralph Hall, R-Rockwall, told Roll Call this morning after Vice President Cheney and White House Chief of Staff Josh Bolten gave a closed-door sales pitch to ...Congressman Hensarling comments on McCain's campaign suspension ... KLTVall 3 news articles
Benbrook’s credit rating raised by Standard & Poor’s Rating Services - Fort Worth Business PressBenbrook’s credit rating raised by Standard & Poor’s Rating ServicesFort Worth Business Press, TX - Sep 29, 2008Three Texas cities made the list; Rockwall, in North Texas, was listed as No. 15 and Canyon Lake, further south in the Texas Hill Country, was No. 18. ...
Texas Association of REALTORS(R) Announces Endorsements For ... - PR-USA.net (press release)Texas Association of REALTORS(R) Announces Endorsements For ...PR-USA.net (press release), Bulgaria - Sep 23, 2008... Sam Johnson Plano District 4 Ralph Hall Rockwall District 5 Jeb Hensarling Dallas District 6 Joe Barton Ennis District 7 John Culberson Houston District ...

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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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