| Term | Definition |
|---|
| CCCS | See Consumer Credit Counseling Service. |
| ceiling | The maximum allowable interest rate over the life of the loan of an adjustable rate mortgage. |
| census | An official count of the number of people living in a certain area, such as a district, city, county, state, or nation. The United States Constitution requires the federal government to perform a national census every ten years. The census includes information about the respondents' sex, age, family, and social and economic status. |
| Certificate of Eligibility | The document given to qualified veterans which entitles them to VA guaranteed loans for homes, business, and mobile homes. Certificates of eligibility may be obtained by sending DD-214 (Separation Paper) to the local VA office with VA form 1880 (request for Certificate of Eligibility). |
| chain of title | A history of conveyances and encumbrances of a property from some starting point, whereby the present owner derives title. |
| channeling | The illegal practice of directing people to, or away from, certain areas or neighborhoods because of minority status; Steering. See Fair Housing. |
| chattel | See personal property. |
| cleaning fee | A nonrefundable fee charged by a landlord when a tenant moves in. The fee covers the cost of cleaning the rented premises after you move out, even if you leave the place spotless. Cleaning fees are illegal in some states and specifically allowed in others, but most state laws are silent on the issue. Landlords in every state are allowed to use the security deposit to clean a unit that is truly dirty. |
| clear title | A land title that doesn't have any liens (including a mortgage) against it. |
| closing | The conclusion of the sales transaction when the seller transfers title to the buyer in exchange for consideration. These proceedings are usually held at a title company or attorney's office. |
