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News about Mortgages:
Low-deposit mortgages evaporate - BBC NewsBBC NewsLow-deposit mortgages evaporateBBC News, UK - Nov 14, 2008In a speech on Thursday, John Goodfellow, the chairman of the Building Societies' Association, said there were a range of issues specific to building ...
Icelandic bank bailout will cost building society members - Times OnlineTelegraph.co.ukIcelandic bank bailout will cost building society membersTimes Online, UK - Nov 13, 2008Speaking at the BSA annual lunch, John Goodfellow suggested it was unfair for building societies, which have not had to rely on a Government bail-out, ...Bailout of Bradford & Bingley and Icelandic banks 'has added £100 ... Daily Mail'Bailout is unfair' Introducer TodayBanks vs. Building Societies: Which Is Safer? Motley Fool UKMortgage Strategy - Fair Investment Company
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Bank bailout is unfair on building societies: BSA - FT AdviserBank bailout is unfair on building societies: BSAFT Adviser, UK - Nov 19, 2008Speaking at the Building Societies' Association's annual lunch John Goodfellow, chairman of the BSA, said it was unfair the sector had paid to bail out ...
THE LAST WORD: Building society savers become the fall guys for ... - Daily MailDaily MailTHE LAST WORD: Building society savers become the fall guys for ...Daily Mail, UK - Nov 11, 2008... percentage point cut in mortgage rates. Some societies are under crippling pressure. John Goodfellow, chairman of the Building Societies Association, ...
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