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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
Saint Louis mortgage rates news:
Financial News
School for the blind starts visionary newsroom - Newark Star-Ledger
Ed Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...

2008 (2665) - Dakota Voice
► January 16 - January 23 (1) Navy torpedo boat PT 109 was rammed AUGUST 2, 1943, by a Japanese destroyer and sunk. The commander sustained permanent back injuries yet helped survivors swim miles to shore, which unfortunately was behind enemy lines ...

Credit Still Tight as Europe Scrambles, Fed Boosts - KSDK
NEW YORK (AP) -- The jammed credit markets barely budged Monday as European governments scrambled to prop up their failing banks and investors waited for details on how, exactly, the Treasury will go about buying $700 billion of U.S. banks' mortgage ...

Tightened credit terms could hurt credit scores - KMOV
NEW YORK (AP) -- Don't throw out that letter from your credit card company. It may be notifying you of a reeled in credit line, interest rate hike or even an account closure. In this recessionary climate, credit card companies across the board are ...

New wave of job cuts could worsen downturn - KSDK
Steven Ridenhour knows how to build a car. But after the Chrysler plant where he worked for 15 years shut down last week, Ridenhour has little else to show on his resume. With four kids, a wife and a mortgage, Ridenhour is scrambling to replace his ...

Republicans spent $150,000 on Sarah Palin's clothes - Times Online
The Republican Party has spent $150,000 in upmarket designer stores on dressing Sarah Palin for the part of vice-president. During September, more than $75,000 was spent in a single shopping spree at Neiman Marcus in Minneapolis, and another $9,500 ...

What is the single most important ramification of the election? - Atlanta Journal Constitution
Before I tackle this week’s topic, I must first congratulate Barack Obama. Even the election of a man with whom I deeply disagree makes me proud to be an American. I will probably object to his policy priorities, but the ascendance of our first ...

Fearing worst, GM pleads for aid - Globe and Mail
Hmm, last thread on this subject got replaced, but since the very first post is about the electric car, let me do a little copy 'n paste from that previous thread: Silver Standard (Used to be gold) from Canada writes: 'Who got rid of all this ...

that's the equivalent of 49 cents per US gallon. - Globe and Mail
Tim Cares from Toronto, Canada writes: kelly moss from winnipeg, Canada writes: people drive too much ( me too) - let the drivers pay and suffer a bit ... I don't have a problem with your sentiments, i just don't want the oil companies to get the ...

McCain slams Obama on 'redistribution of wealth' - Boston Globe
Conservative bloggers and websites have been flogging it, and now John McCain's campaign has put its imprimatur on it: a newly disclosed radio interview in which Democratic rival Barack Obama talks about the redistribution of wealth. The interview ...

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