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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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Gregory mortgage quotes news:
November 2008 - Weblogs.baltimoresun.comIn 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 ...
On politicians’ pay, parents’ responsibility - Atlanta Journal ConstitutionAtlanta’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 ...
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