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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
Hillsborough mortgage loan news:
Financial News
People of modest means hitched hopes on Little Lake Street - San Diego Union-Tribune
It produced easy money for speculators and mortgage brokers and short-lived happiness for families who bought houses they couldn't afford to keep. NANCEE E. LEWIS / Union-Tribune Little Lake Street in the Otay Ranch community of Hillsborough is an ...

Schools, businesses feel effects of neighborhood's misery - San Diego Union-Tribune
CHULA VISTA – During the first half of the decade, when home prices were soaring, the Rev. Carl Dreves watched in amazement as new neighborhoods took shape in sprawling Otay Ranch. NELVIN C. CEPEDA / Union-Tribune The Hillsborough neighborhood in ...

Living next-door to emptiness in the burbs - St. Petersburg Times
Angie Harris, 36, takes her children Tamiah, 4, left, and Allure, 2, on a recent outing through her Tanglewood Preserve neighborhood in Gibsonton. Harris has few neighbors. GIBSONTON — She knew it would be awhile before they had next-door neighbors ...

Local auto dealers urge industry aid - Concord Monitor
Auto dealers across the Granite State are watching closely as Congress heads into its lame-duck session next week, hoping legislators will step in if a Big Three manufacturer teeters too close to collapse. While reports from Capitol Hill late this ...

Florida pension fund plummets - St. Petersburg Times
The State Board of Administration, which manages many of Florida's public investments, has seen its assets plummet by $62-billion, a third of their value, in the last 13 months. The decline — the steepest in the agency's 65-year history ...

November 2008 - Posts - MSNBC Firstread
*** Tamping down the speculation -- or not? HillaryLand seems to be making a concerted effort to start tamping down speculation about the secretary of state job. Reports from the New York Times and Politico are sparking the debate about whether she's ...

Hillsborough County targets areas for housing rehab plan - St. Petersburg Times
PALM RIVER — Armando Celeiro came here from Cuba with $100 in his pocket. Forty-odd years later he's a furniture manufacturer and real estate investor, proud of his achievements and bullish on his community. Hillsborough County housing officials ...

In shift, Buddy Johnson tries to sell third of his land - St. Petersburg Times
Cows graze on Hillsborough Elections Supervisor Buddy Johnson’s property in eastern Hillsborough County, an arrangement that allowed him to seek greenbelt status and lower his taxes. He bought the 20-acre tract in March 2007 for $800,000. TAMPA ...

Answers to your financial forum questions - Bay News 9
BAY NEWS 9 -- To help you during these extraordinary financial times, Bay News 9 and BayNews9.com hosted a financial special Wednesday afternoon. Financial experts in the Bay News 9 studios answered questions about the stock market, investing ...

Foreclosure crisis hits tenants - 10 News
Port Richey, Florida ? Several viewers, including Julie Groshans of Port Richey, have contacted Tampa Bay's 10 to say they're scared because the houses they're renting are going through foreclosure. Groshans says she barely scrounged up $1,200 to ...

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