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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
Brunswick mortgage loans news:
Financial News
N.J. housing market slide provides opportunity for first-time buyers - Newark Star-Ledger
In a wooded neighborhood of Raritan Township, Sarah Nojiri walks through an empty colonial with a dining room big enough to fit the large furniture her grandmother gave her. She can't wait to hold family dinner parties inside her first home, and she ...

9 issues to watch in 2009 in Myrtle Beach area - Myrtle Beach Online
After a tumultuous year for the economy, many consumers, investors and business owners were ready to say good riddance to 2008. But will the Grand Strand's economy get any better in '09? Bad news first: Home prices will continue a rough ride for most ...

Goody's may liquidate - Knoxville News Sentinel
Goody's Family Clothing could be on the verge of liquidation following reports that the Knoxville retailer pleaded with suppliers last month for concessions to stay in business. An executive of an apparel manufacturer told the New York Post that ...

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