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

Powell mortgage quotes news:

Show your support. - Huffingtonpost.com
Most Recent News: Brad Whitford and Richard Schiff corroborate my post in Friday's New York Times piece by Elisabeth Bumiller. Second Update: McCain and Me: Hero Worship Dies Hard (But When It Does...) Update: Through a spokesperson with the colorful ...

House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News Blogs
ABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...

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 ...

November 2008 - Weblogs.baltimoresun.com
In an analysis of TV journalism on Wednesday night, I wrote that a red-ball event like the terrorist attacks in Mumbai often provided a great look into a news oganization. But in expressing my dismay at the way MSNBC couldn't let go of the comedic ...

Crystal River Statement Concerning NYSE Listing Standards - Earthtimes
Author : Crystal River Capital, Inc. NEW YORK, NEW YORK -- 11/25/08 -- Crystal River Capital, Inc. (NYSE: CRZ) (the "Company" or "Crystal River") today announced that the Company was notified by NYSE Regulation, Inc. that it is not in compliance with ...

Palin: I'm not a 'bubble-head' - Boston Globe
In the new People magazine, Sarah Palin hits back at portrayals of her as something of a dim bulb. While she couldn't name a newspaper or magazine she reads when Katie Couric of CBS asked her, Palin said she has always been a "voracious reader." "You ...

Bailout goes from necessary to nightmarish - Atlanta Journal Constitution
That $700 billion financial sector bailout that I supported — and do still, but with an exit strategy — is a nightmare in the making. Look what’s happened since the first of the month: Atlanta Mayor Shirley Franklin, smelling a bailout handout ...

Recently in 2010 Category - New York Daily News
With Gov. David Paterson poised to become even more popular among aspiring junior US senators from New York , Democratic consultant Hank Sheinkopf suggests the governor might consider creating a "process" to select Hillary Clinton's successor to ...

Edward M. Gomez - San Francisco Gate
Alas, the pesky truth has a peculiar way on intruding on the government war-makers' game. So it was that, this week, British Defense Secretary John Hutton "acknowledged" that Brown's government "needed to restate the argument that Britain's presence ...

What must John McCain’s endgame strategy be? - Atlanta Journal Constitution
At this point, John McCain’s message must be entirely about buyer’s remorse. Barack Obama is the least-experienced presidential candidate in modern history, has never had to handle a crisis, and would take office in the middle of an economic ...