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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.

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Anderson mortgage rates news:

2nd UPDATE: Builders Trade Higher, Fueled By Treasury Plan - CNN Money
NEW YORK -(Dow Jones)- Shares of home builders rose Thursday as investors cheered the possibility that falling mortgage rates could pull the housing industry out of its continued slump. The Dow Jones US Home Construction Index recently gained nearly ...

Forget the subprime mortgage mess — Collin Peterson in Europe trying ... - DL-Online
U.S. Rep. Collin Peterson, D-Minn., left for Europe this weekend to discuss ways to regulate little-known and difficult-to-understand “credit default swaps.” “It has to be global,” Peterson said, so he and other House Agriculture Committee ...

Mortgage holders to enjoy big savings - ninemsn
Many homeowners can expect to save nearly $200 a month on an average mortgage after the Reserve Bank chopped another full percentage point off the cash rate. The central bank made another hefty interest rate cut following its monthly board meeting ...

UCLA fields a winning team in commercial real estate - Los Angeles Daily News
They may not measure up to USC on the football field, but UCLA dominates its cross-town competitor in the commercial real estate arena. A team of students from UCLA's Anderson School of Management defended its Silver Shovel title during this year's ...

Repossession promise by RBS is 'PR stunt' say mortgage experts - Daily Telegraph
RBS, which became part-nationalised last week, has announced that it will not start repossession proceedings against any of their customers unless they are at least six months in arrears. While experts have said this will give struggling customers ...

Basketball captain escapes Credit Crunch moaners with African ... - Edinburgh News
IN sport, he captained his basketball squad to a string of championships, travelling the world with Edinburgh Kings and making the national team. Away from the court, Kevin Anderson was a prize-winning design student, congratulated on his work by the ...

Reserve's '$10bn cut' to stave off recession - The Australian
The Australian's Michael Stutchbury says that the latest rate cut should be the RBA's last significant rate reduction. On the eve of the Rudd Government's recession-busting fiscal stimulus package delivering almost $10 billion into the bank accounts ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. In a few minutes, the leaders of the nation’s automakers will go before Congress and attempt to explain exactly how their companies are ...

Lie, cheat and steal: high school ethics surveyed - Fort Worth Star-Telegram
Graphic shows a recent survey of stealing, lying and cheating among students; two sizes; Campaign asks Texans to support open-carry law for handguns Dave Barry's annual wild and wacky roundup of gifts Nolan Catholic bound for TAPPS title game UTA ...

TOPWRAP 4-Japan output fall worse than expected, India slow - FXStreet.com
LONDON, Nov 28 (Reuters) - Asian economic powerhouses saw production tumbling on Friday, while in the United States Thanksgiving sales offered a key test of America's ability to spearhead recovery from global crisis. Euro zone inflation plunged to an ...