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

Union mortgage quotes news:

EU under urgent call to coordinate responses to financial crisis - Xinhua News Agency
LUXEMBOURG, Oct. 6 (Xinhua) -- European Union (EU) countries came under urgent call to coordinate their individual responses to the financial crisis as finance chiefs from the 27-nation bloc started a monthly gathering on Monday. "The first thing we ...

Lonmin, S.African union agree 12.5 pct wage rise - Forbes
JOHANNESBURG, Oct 6 (Reuters) - The world's No. 3 platinum producer, Lonmin , agreed a 12.5 percent wage increase for members of the South African Solidarity trade union, the union said on Monday. The agreement will be implemented retrospectively ...

Stock & fund quotes - ninemsn
NEW YORK, Oct 6 (Reuters) - The U.S. dollar jumped to a 13-month high against the euro on Monday, while the yen rallied across the board as fears over bank problems in Europe deepened and investors cut risk exposure. Sentiment worsened sharply ...

UPDATE 1-EU urges immediate easing of fair-value rule - Forbes
BRUSSELS, Oct 8 (Reuters) - Market watchdogs in the European Union should allow banks to skirt fair-value accounting rules immediately to ease the pain of the financial crisis, the bloc's top financial regulator said on Wednesday. Fair value or mark ...

Bush: U.S. isn't in this mess alone - Salt Lake Tribune
WASHINGTON - President Bush and the world's financial leaders staged repeated displays of unity Saturday to combat an unfolding credit crisis, hoping to calm investors whose panic has spread despite bold and accelerating government action. While ...

Q&A, NOW - Washington Post
Need advice about how to handle your personal finances? Whether the struggle is saving for retirement, organizing your bank files, or talking about money responsibility with your spouse or loved one, Post personal finance columnist Michelle ...

Read all '"Real estate"' posts in Webware - CNET News
A new commercial real estate site is opening its doors today: ZoomProspector . It's designed to help businesses find communities for new offices or plants, and then find the properties that fit their needs. The service collects business stats on ...

Libor Holds Central Banks Hostage as Credit Freezes (Update1) - Bloomberg
Oct. 9 (Bloomberg) -- Danilo Coronacion oversees 15 percent of global coconut oil production at CIIF Oil Mills Group in the Philippines. These days, he spends a lot of time worrying about events half a world away in London. The name of his pain ...

Libor Holds Central Banks Hostage as London Makes World Freeze - Bloomberg
Oct. 9 (Bloomberg) -- Danilo Coronacion oversees 15 percent of global coconut oil production at CIIF Oil Mills Group in the Philippines. These days, he spends a lot of time worrying about events half a world away in London. The name of his pain ...

How financial crisis is hitting state's homeowners, businesses - Detroit Free Press
Beaumont Hospital may have to pay more money to build new emergency and operating rooms at its Royal Oak campus. JADDA Capital Management of Mt. Clemens is seeing more customers looking for short-term loans because they can't get financing from banks ...