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.

View all Terms

Clay home equity loans news:

South Florida Sun-Sentinel - Fort Lauderdale Sun-Sentinel
Incumbent Rep. Ron Klein railed against the war in Iraq two years ago to upset longtime Republican Rep. Clay Shaw and help the Democrats capture Congress. His challenger in Tuesday's primary, Paul Renneisen of Fort Lauderdale, hopes the same issue ...

Corrections and clarifications - Milwaukee Journal Sentinel
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Terry Hutchens: IU Q&A - Indianapolis Star
Question: When was the last time a committee of more than 3 people made a timely, intelligent decision? If "someone" thinks a 10 person committee can choose the next coach, wouldn't 20 people do an even better job? How about 30? (Mike in Grand ...

The Notion - Nation
Phil Gramm, the senator-banker who until recently advised John McCain's campaign, did get it right about a "nation of whiners," but he misidentified the faint-hearted. It's not the people or even the politicians. It is Wall Street--the financial ...

Homeowner equity dipping below 50% - Daily Oklahoman
NEW YORK - Americans' percentage of equity in their homes has fallen below 50 percent for the first time on record since 1945, the Federal Reserve said Thursday. Attorney Mike Gassaway disbarred OU lineman quits to join Marines Jailed man not ...

Guide to state propositions - Houston Chronicle
1 Angelo State This would transfer Angelo State University's capital funding designation from the Texas State University System to Texas Tech University. The Legislature already has made ASU part of the Texas Tech system. — Clay Robison "The ...

Staying on track - Globe and Mail
As small business owners, we often have a multi-faceted job description: President/Executive Assistant/Janitor. Finding time to implement new initiatives can be difficult among all our other tasks. As an entrepreneur, I am always brainstorming new ...