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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.
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Sully mortgage loan news:
InstaLetters for November 1 - Asheville Citizen-TimesThe invisible (to North Carolina) Elizabeth Dole has implied that Kay Hagan doesn't believe in God (because some of the money at a fund raiser came from an atheist group). That is a shameful, despicable attack on Kay Hagan's character. It ...
Wrecks, Lies and Barney Frank - American ThinkerDemocrats have a lot to hide about their role in creating the current financial crisis and are doing their best to appear blameless with charges directed elsewhere. Within hours of the fall of their affirmative-action-lending-policies house-of-cards ...
Knives come out for Sarah Palin - Globe and MailOh BOY. The truth comes out!! The left, disliked John McCain, but the simply hate Sarah Palin. And they see what she may be capable of in 2012. I don't think the left killed her. I think with Obama's inevitable four years of failure superimposed on ...
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. We all want to find the right words to comfort friends and relatives who are suffering. The economic turmoil of the past few months has raised ...
Is McCain More the Populist than Obama? - Common DreamsOn Friday morning, McCain, at a rally in Green Bay, Wisconsin, delivered a speech on the financial crisis. He tore into Wall Street and Washington, proclaiming, "The crisis on Wall Street started in the Washington culture of lobbying and influence ...
Email Crime Scene KC - Kansas City Star BlogsMission playground fire causes $25K in damage Nudists versus wifeswappers! The Michael Vick story can't get any worse, right? UK boy, 12, died from using too much deodorant FL man stabs brother in the chest over a hat, police say As though being a ...
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