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Adams Clinton Ford Jasper Livingston Mercer Randolph Vermilion
Alexander Coles Franklin Jefferson Logan Monroe Richland Wabash
Bond Cook Fulton Jersey Macon Montgomery Rock Island Warren
Boone Crawford Gallatin Jo Daviess Macoupin Morgan Saint Clair Washington
Brown Cumberland Greene Johnson Madison Moultrie Saline Wayne
Bureau Dekalb Grundy Kane Marion Ogle Sangamon White
Calhoun Dewitt Hamilton Kankakee Marshall Peoria Schuyler Whiteside
Carroll Douglas Hancock Kendall Mason Perry Scott Will
Cass Dupage Hardin Knox Massac Piatt Shelby Williamson
Champaign Edgar Henderson La Salle Mcdonough Pike Stark Winnebago
Christian Edwards Henry Lake Mchenry Pope Stephenson Woodford
Clark Effingham Iroquois Lawrence Mclean Pulaski Tazewell
Clay Fayette Jackson Lee Menard Putnam Union
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
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Illinois home mortgage loan, news and quotes from Illinois lenders

Federal Regulators Seize California's Downey Savings, PFF Bank - Free Internet Press
Federal regulators seized Downey Savings & Loan and PFF Bank & Trust late Friday, saying hundreds of millions of dollars in bad loans from the housing bubble had rendered the Southern California banking fixtures unsound. The banks' branches will ...

Generation Mortgage Offers Additional Peace of Mind to Senior Home ... - Earthtimes
ATLANTA , Nov. 18 /PRNewswire/ -- The U.S. Department of Housing and Urban Development HUD recently implemented new regulations for the HECM (Home Equity Conversion Mortgage) loan, increasing the federal insurance of that product. As a result, the ...

The Next Subprime Crisis Looms - FHA-Backed Loans - Free Internet Press
The same people whose reckless practices triggered the global financial crisis are onto a similar scheme that could cost taxpayers tons more. As if they haven't done enough damage. Thousands of subprime mortgage lenders and brokers - many of them the ...

Title insurer wins round in mortgage fraud - Ledger-Enquirer
– All United States – Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota ...

Settlement with credit-reporting firm Trans Union is tied up in court - Providence Journal
Q: My question has to do with a . . . class-action settlement regarding credit reporting. . . . I sent in my form during the proper time and I was hoping that I would be able to get a credit score — not the report, but the score. I mailed it in ...

Chicago, Clinton camps feed Obama’s incoming team - Las Vegas Sun
Two main quarries are supplying the building blocks for President-elect Barack Obama's new administration. Longtime, deeply loyal associates will dominate the White House inner sanctum. And veterans of Bill Clinton's presidency will hold vital jobs ...

Mortgage Rates Remain Stable for Second Consecutive Week - PR Newswire
SEATTLE, Nov. 18 /PRNewswire/ -- Mortgage rates remained relatively stable last week, with rates for 30-year fixed mortgages declining slightly to 6.03 percent, down from 6.09 percent the week prior, according to the Zillow Mortgage Rate Monitor ...

HSBC Strains While It Tries To Help Out Homeowners - Wall Street Journal
In early 2007, HSBC Holdings PLC was one of the first big banks hit by what became a global tidal wave of subprime-mortgage woes. Now there's a new problem: Changing the terms of some shaky loans has failed to keep borrowers from defaulting. The U.K ...

Attorney Gen. Madigan Sues Mortgage Rescue Firms - CBS 2 Chicago
CHICAGO (CBS) ― Illinois Attorney General Lisa Madigan is warning struggling homeowners about mortgage rescue companies. Madigan on Tuesday announced that she's filed seven new lawsuits against businesses she says offered false hope to homeowners ...

Illinois Third Quarter Home Sales Down 21.2 Percent - Biloxi Sun Herald
Statewide Median Price at $190,000 SPRINGFIELD, Ill., Nov. 17 /PRNewswire-USNewswire/ -- Job losses and economic uncertainty continue to impact the housing market while home price affordability and supply present opportunities for first-time buyers ...

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