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News about Mortgages:
WRAPUP 1-Canada banks cut prime rates on mortgage plan - ReutersTORONTO, Oct 10 (Reuters) - Canadian banks moved to lower lending rates on Friday, after learning they will be able to get a short-term break on funding costs by selling more mortgages to a federal housing agency. Bank of Nova Scotia (BNS.TO: Quote ...
Major U.S. mortgage lender selects MDA - CNW GroupRICHMOND, BC, Oct. 6 /CNW/ - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that MDA Lending Solutions has signed a contract with a leading US mortgage lender to provide them with a ...
Brandywine Announces Closing of the $412.5 Million Oakland, California ... - MSN MoneyCentralBrandywine Realty Trust (NYSE: BDN) announced today that it has completed the previously disclosed five-property portfolio sale totaling approximately 1.7 million net rentable square feet in Oakland, California for an aggregate sales price of $412.5 ...
Halifax hikes its mortgage rates - Richmond & Twickenham TimesBritain's biggest mortgage lender has become the latest mortgage lender to hike its mortgage rates. Halifax said it was raising its rates by up to 0.25%, following last week's increase of up to 0.45%. The group blamed the move on continued increases ...
Ottawa admits it must act - Globe and MailOTTAWA, RICHMOND, B.C., TORONTO -- The federal government is moving to backstop the Canadian banks' capacity to lend money in an acknowledgment that not even the country's sturdy banking system is immune to the global financial crisis. A plan ...
LAW ENFORCEMENT: Rosenberg Stepping Down as U.S. Attorney - Washington PostChuck Rosenberg has resigned as U.S. attorney in Alexandria, one of the most prominent federal prosecutor's jobs in the country, Justice Department officials said yesterday. Rosenberg, 48, who was appointed in March 2006, sent a resignation letter to ...
Foreclosure Assistance Is on the Way: Va. Officials to Funnel ... - Washington PostHousing officials in Northern Virginia and Richmond are meeting this week to determine how to allocate $46 million in emergency federal aid set aside to stanch the region's foreclosure crisis. The money will probably go toward local governments ...
Pence addresses bailout vote during Richmond visit - Palladium-ItemRep. Mike Pence, who represents Indiana’s sixth district including Wayne County, discussed what he called the “current financial crisis” and Congress’ response to it today at lunch with the Richmond Rotary Club. “We’re coming off easily ...
Wells Fargo tops Citigroup Wachovia bid: Future still unclear for bank ... - TradingMarkets.comWells Fargo's offer, valued at $7 a share, is for the entire Wachovia operation, not just the banking operations that New York-based Citigroup had planned to buy for $2.16 billion, or the equivalent of $1 a share. Still, the future of Wachovia, which ...
Civil servants blamed for broken promise - Georgia StraightFederal bureaucrats, not Conservatives, are to blame for Stephen Harper ’s failure to fulfill a previous election promise to review the role that the Canada Mortgage and Housing Corporation played in B.C.’s leaky-condo crisis. Conservative Delta ...

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Today's Mortgage Terms starting with B
Bankruptcy: A legal procedure in a federal court to relieve certain debts of a person or a business that is no longer able to pay its debts. Chapter 7 bankruptcy removes all debts. Chapter 13 lets a borrower with and income to pay bills off over a set period of time.
Bearer: The legal owner of a property.
Bill of Sale: A document that details the transfer of property.
Biweekly Mortgage: A mortgage with payments due every two weeks, totaling 26 payments a year, two payments more than a mortgage with monthly payments. The two extra payments lowers significantly the interest paid over the life of the mortgage.
Blanket Mortgage: A mortgage that includes more than one piece of real estate
Borrower (Mortgager): An individual who makes an application for and receives funds in the form of a loan and is obligated to repay the loan in full under the conditions of the loan.
Broker: An individual who gets buyers and sellers together and helps in negotiating contracts for a client.
Buy-Down Mortgage: A mortgage loan with a lower than market rate for a determined period of time.
Buyer’s Market: Market conditions that favor buyers. When there are more properties for sale than buyers, sellers may be forced to provide price discounts to close the transaction.
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