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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
Clark mortgage rates news:
Financial News
10 by 10: A New Way to Look at Dividend Yield and Growth - Seekingalpha.com
Dividend investors often set minimum requirements for an "acceptable" initial dividend yield and/or dividend growth rate. Thus one investor might say, "I won't invest in a dividend stock with a yield of less than 3%." Another might say, "I want a ...

Foreclosure: Nevadans hit hard in national crisis - Reno Gazette
Shelly Griese hates to move. But in the last four months, the 47-year-old Reno resident found herself doing exactly that. Twice. Packing boxes on a clear November afternoon, a tired and dejected Griese expressed disbelief on how quickly her life has ...

Ruling expected Tuesday in energy suit - Martinsville Reporter-Times
Depending on how a federal judge rules Tuesday, about 700,000 customers of rural electric cooperatives could face rising rates to pay off a bad investment by Hoosier Energy Rural Electric Cooperative. The Bloomington-based power generator has asked U ...

Las Vegas Home Prices Hit 5-Year Low - Street.Com
For more real estate news, please visit: DQNews.com . Also check out BankingMyWay to compare mortgage rates. The Las Vegas region's median sale price fell below $200,000 in October for the first time in nearly five years. Price slashing kept sales of ...

Ailing economy opens doors for stock market novices, car buyers - McAllen Monitor
The daily deluge of glum news is a constant reminder of how things are looking worse than bad, but the sluggish economy also offers savings opportunities for saavy consumers. And it goes beyond gas prices dropping below $2 a gallon for the first time ...

Bad economy offers cheap stocks, cars - Brownsville Herald
McALLEN - The daily deluge of glum news is a constant reminder of how things are looking worse than bad, but that also means prices are falling and it could be a buyer's market for some big-ticket items. And it goes beyond gas prices dropping below ...

Daily Dose: Love, death and babies - Topeka Capitol-Journal
Hoping to get married soon? You might want to think about making the move to Geary County. According to the summary of the 2007 vital statistics, released Monday by the Kansas Department of Health and Environment, Geary County had the highest ...

FORECLOSURE: for 22 months, Nevadans have faced worst of national ... - Reno Gazette
Shelly Griese hates to move. But in the last four months, the 47-year-old Reno resident found herself doing exactly that. Twice. Packing boxes on a clear November afternoon, a tired and dejected Griese expressed disbelief on how quickly her life has ...

Toy for Joy campaign launches 86th season in Western Mass. - Union-News & Sunday Republican
SPRINGFIELD -Registration for Toy for Joy, which has brightened the Christmas mornings of needy families for 85 years, will commence on Monday. The annual holiday campaign, sponsored by The Republican and the Salvation Army, launches its 86th season ...

Rents up in New Orleans while $846m sits unclaimed - Ledger-Enquirer
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