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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 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
Perry home equity loans news:
Financial News
Harley-Davidson, IRobot, Perry Ellis, Unum: U.S. Equity Movers - Bloomberg
Jan. 7 (Bloomberg) -- The following companies are having unusual price changes in U.S. trading . Stock symbols are in parentheses, and share prices are as of 11:50 a.m. in New York. Commodity shares fell after oil prices tumbled and Alcoa Inc. (AA US ...

January is good time to cut financial mess - Reading Eagle
When it comes to New Year's resolutions, Kathy Johnson of Sacramento, Calif., has two simple money-savers in mind: to get out of debt and pay off all credit cards. Johnson, a single mother, said her debts have accelerated due to health issues ...

Ways to whittle down your debt - NorthJersey.com
When it comes to New Year's resolutions, Kathy Johnson of Sacramento, Calif., has two simple money-savers in mind: "to get out of debt and pay off all my credit cards." Johnson, a single mother, said her debts have accelerated due to health issues ...

More Information - Sacramento Bee
CPAs: To find a certified public accountant in your area, visit the California Society of CPAs Web site, www.calcpa.org . Enrolled agents: Members of the California Society of Enrolled Agents are tax specialists who can advise and prepare tax returns ...

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