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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

Sac mortgage loans news:

Calif. Unemployment Rate Rises to 8.2 Percent - Sacramento Union
SACRAMENTO (AP) – California’s unemployment rate jumped to 8.2 percent in October, the highest rate in 14 years, just as a state fund that pays unemployment benefits was about to run out of money. State officials are preparing to ask the federal ...

Fear & Foreclosure in Las Vegas - Bloomberg.co.jp
Fear & Foreclosure in Las Vegas The gambling capital of the world was also the fastest-growing housing market in the U.S. -- until it all came crashing down in a frenzy of ``liar loans'' and fraud. By Anthony Effinger Bloomberg Markets, December 2008 ...

The Reluctant CEO of the Year - Globe and Mail
HE IS A LITTLE BIT GREYER THAN he was before the beginning of his biblical seven lean years, and a little bit balder, and slightly more wrinkled, but wiser, too. He has learned. He has discarded one of his own personal commandments, a rule he rarely ...

On politicians’ pay, parents’ responsibility - Atlanta Journal Constitution
Atlanta’s next mayor should be paid $225,000, up from $147,500, advises one of those commissions that politicians appoint to provide pay-raise cover. Ostensibly the higher pay is to attract better candidates. That assumes, of course, that losers ...

Assembly Dems Press Arnold for Mortgage Reform - Sacramento Union
SACRAMENTO (AP) – Assembly Democratic leaders sent a letter last week to Gov. Arnold Schwarzenegger, urging him to address California’s high rate of foreclosures as part of an anticipated special legislative session on the budget. “Four billion ...

They’re From the Government, Not Here To Help - Sacramento Union
he $700 billion mortgage market cow patty our D.C. elected types wrestled with is clear validation of Ronald Reagan’s words in his first inaugural address, “Government is not the solution, government is the problem.” It also shows what happens ...

Lenders: Loans are available - Sauk Prairie Eagle
Even as the nation's credit markets melt and television commentators issue dire predictions about the future of the economy, Sauk Prairie lenders want residents to know they still can get a loan — so long as they qualify. Bank of Prairie du Sac ...

Maid-Turned-Realtor Ran Vegas Mortgage Scam, Prosecutors Say - Bloomberg
Oct. 30 (Bloomberg) -- Eve Mazzarella was a Las Vegas success story. The high-school dropout and former housemaid moved to the Nevada city in 2000 from Seattle, got a certificate from the ABC Real Estate School and started selling houses in what ...

For Housing, Hope Should Not Cloud Hard Reality - CNBC
I’m all about the hope, awash in it in fact, and no, I’m not being facetious. How could any American, even those of the non-winning party, not feel some sense of positive change, despite the fact that our president-elect, in accepting his new job ...

Maestro's music plays on and on - Houston Chronicle
How the Maestro has fallen. Alan Greenspan, once lauded for his orchestration of the U.S. economy, last week returned to Washington as just another faded rock star. Greenspan fielded questions from Congress about his culpability in the current ...