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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
Humboldt mortgage loans news:
Financial News
Charity offers up $68M in mortgage rescue money - Batavia Sun
The John D. and Catherine T. MacArthur Foundation said Wednesday it is investing $68 million in grants and low-interest loans to stop foreclosures in Chicago neighborhoods, to help 10,000 households, prevent 2,700 foreclosures by 2010 and provide ...

Mailers criticize Furch's tax lapse - Santa Rosa Press Democrat
Two mailers hammering on Sonoma County supervisorial candidate Rue Furch's tardy property tax payments have landed in west county mailboxes in the campaign's waning days. Furch characterized the mailers as "full of half-truths and negative ...

Selected recent California newspaper editorials - San Jose Mercury News
It took state lawmakers more than three months past their July 1 deadline to finally work out a budget deal this year. Now, just weeks later, it turns out that stinky budget plan wasn't enough to solve the budget crisis. State lawmakers are back in ...

State makes millions available in flood aid - Globe Gazette
DES MOINES — A state program designed to help Iowa recover from disasters in recent months will set aside more than $4.7 million in housing aid and more than $720,000 in help for small businesses in Cerro Gordo County and surrounding areas, Iowa ...

Saul Alinsky Takes the White House - Spectator.org
Conservatives may not realize just how difficult it might be to recover from this week's elections. The day after the big defeat, the conservative chatter everywhere was about how the "movement" and the Republican Party (two different things) could ...

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