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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

Lexington refinance mortgage news:

Mortgage application volume falls 6.2 pct - Lexington Herald-Leader
WASHINGTON -- Mortgage application volume fell 6.2 percent during the week ended Nov. 14, according to the Mortgage Bankers Association's weekly application survey. The trade group's application index slipped to 398.6 during the week, down from 425 a ...

Feds scale back home-loan help - Lexington Herald-Leader
WASHINGTON — The Bush administration is backing away from proposals to have the government refinance a broad swath of homeowners who face foreclosure after taking out subprime mortgages and other high-risk loans over the last few years. The ...

Maryann Haggerty and Elizabeth Razzi - Washington Post
Welcome to Real Estate Live, an online discussion of the Washington area housing market with Post Real Estate editor Maryann Haggerty and columnist Elizabeth Razzi. Maryann has been with The Post for 18 years and has served as real estate editor for ...

Michelle Singletary - Washington Post
Personal finance columnist Michelle Singletary hosted an online discussion with Gary Weiss , author of "Wall Street Versus America: A Muckraking Look at the Thieves, Fakers, and Charlatans Who Are Ripping You Off," on Thursday, Oct. 23 at Noon ET ...

Forced out of home, family still asks why - Dispatch
The stories are repeated again and again - a family, targeted by predatory lending, signs a mortgage on a house it cannot possibly afford. Danny and Candis Owens lost their house to foreclosure in March 2007, but their story is a little different ...

These Loans Were Made for Walking: The End of the Subprime Crisis - Common Dreams
We are nearing the end of the subprime crisis, but this is not exactly grounds for celebration. There are still millions of low- and moderate-income homeowners who are facing the loss of their house through foreclosure. Nothing currently on the ...

US May Take Ownership Stake in Banks - Common Dreams
WASHINGTON - Having tried without success to unlock frozen credit markets, the Treasury Department is considering taking ownership stakes in many United States banks to try to restore confidence in the financial system, according to government ...

U.S. Considers Cash Injections Into Banks - Dispatch
WASHINGTON — Having tried without success to unlock frozen credit markets, the Treasury Department is considering taking ownership stakes in many United States banks to try to restore confidence in the financial system, the White House said on ...