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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
Perry mortgage quotes news:
Financial News
On politicians’ pay, parents’ responsibility - Atlanta Journal Constitution
Atlanta’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 ...

UK house price falls ease, sales at record low -RICS - Forbes
LONDON, Nov 11 (Reuters) - British house prices fell slightly less sharply in the three months to October than in the three months to September, a survey showed on Tuesday, but home sales hit the lowest in at least 30 years. The Royal Institution of ...

Chambliss win vital? You betcha. - Atlanta Journal Constitution
Want to see Sarah Palin in Georgia? And if she’s not available, John McCain? If U.S. Sen. Saxby Chambliss is, in fact, forced into a runoff — something that could be known when Fulton County (Atlanta) election officials deem it convenient to ...

Alabama son Peavy to pitch for Braves? It's possible - Atlanta Journal Constitution
The entry titled "Alabama son Peavy to pitch for Braves? It's possible," and any of the comments about it. He’s 27 years old, was a unanimous winner of the 2007 NL Cy Young Award, has averaged 192 innings and 194 strikeouts in six full seasons in ...

Nick Robinson's Newslog - bbc
Alistair Darling's big gamble is not simply that an injection of £20bn can make the recession shallower and shorter. It is that the economy will recover strongly and swiftly enough to allow him - or his successor - to pay back not just that  ...

Hip-Hop Rumors: T-Pain Disses NY "Copycat," Katt Williams's Weird Vid ... - allhiphop.com
First of all, don't forget the late rumors from yesterday! We had that massive Jeezy concert fight! A bad Lil' Kim rumor! You DO know a new war of words is heating up with Jay-Z and Jaz-O, right? OHHH...yeah...click to see them. I want to thank ...

Voters advise closing Lubec school - Bangor Daily News
LUBEC, Maine — Voters Tuesday approved an advisory referendum to close the town’s high school by a vote of 288-197. Although voters decided the question Tuesday, town officials did not count the votes until Friday because of the push to get the ...

Friday roundup: transition edition - Los Angeles Times Blogs
Political reporters all over the nation are experiencing election postpartum depression. If you're reading this blog, you might suffer from it, too. It works like this: After months of mounting intrigue and 24/7 media coverage, voters go to the polls ...

Election 2008 - Weekly Standard
Bill Sammon's sources tell him Steele may announce as soon as Thursday , and is courting the endorsement of Newt Gingrich, which if landed, would do much to scare off the incumbent and possible challengers: The source also contradicted a report in ...

Political Punch - ABC News Blogs
Jake Tapper is ABC News' Senior White House Correspondent based in the network's Washington bureau. He writes about politics and popular culture and covers a range of national stories. Friday afternoon in Kettering, Ohio, Sen. Joe Biden, D-Del., took ...

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