CONSUMER CREDIT >> Credit owed by the individual, not secured by real estate.

CONVENTIONAL LOAN >> A loan that was not underwritten by HUD, the SBA, VA or the FHA.

CONVERSION CLAUSE >> A provision in some Adjustable Rate Mortgages ("ARM") that allows a borrower to change the ARM to a fixed-rate loan at some point during the term.

CONVEYANCE >> The written instrument by which title to real property is transferred from one party to another.

CORPORATION >> An artificial person or legal entity created by or under the authority of the law of a state. May have limited liability, perpetual life, freely transferable shares and centralized management.

COSMETIC REPAIR >> Repairs that improve the appearance of the property.

COVENANTS, CONDITIONS AND RESTRICTIONS (C C & Rs) >> Limitations placed on the use and enjoyment of real property. Usually intended to maintain a certain look within a neighborhood and common in subdivisions, PUDS or condominium communities.