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News about Mortgages:
Government may soon back troubled mortgage giants - ForbesThe government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's ...
Paulson to Take Over and Restructure Fannie, Freddie (Update3) - BloombergSept. 6 (Bloomberg) -- Treasury Secretary Henry Paulson will use his authority to rescue Fannie Mae and Freddie Mac , likely placing the beleaguered mortgage-finance companies under government control as early as this weekend. The Treasury plans to ...
Feds to Take Over Fannie, Freddie - Time(WASHINGTON) — The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of ...
Paulson Intends to Use New Power to Restructure Fannie, Freddie - BloombergSept. 6 (Bloomberg) -- Treasury Secretary Henry Paulson will use his authority to rescue Fannie Mae and Freddie Mac , likely placing the beleaguered mortgage-finance companies under government control as early as this weekend. ``Late yesterday I ...
Gov't may back top troubled mortgage companies - International Herald TribuneWASHINGTON : Fannie Mae and Freddie Mac are expected to be taken over by the government as soon as this weekend in a bold move designed to protect the mortgage market from the risk the companies could fail, a person briefed on the matter said Friday ...
State of Franklin Savings Bank to sell to Morristown bank - Johnson City PressState of Franklin Savings Bank’s decade-long run as the only Johnson City-headquartered bank has ended with its sale to Morristown-based Jefferson Federal Bank, pending approval by SOFB shareholders, and co-founder Charles E. Allen, Jr., is ...
Day Two: Could you live on $275 a week? That's Florida's maximum ... - Fort Lauderdale Sun-SentinelFlorida ranks as one of the lowest-paying states in the nation in what it pays unemployed workers. Whether you lose a $30,000-a-year job or one that pays six figures, your maximum unemployment compensation breaks out to $6.88 an hour — less than ...
Gov't may stabilize Fannie Mae, Freddie Mac - KFSN9/6/2008 WASHINGTON -- A top House Democrat confirms that Treasury Secretary Henry Paulson is planning government intervention to back troubled mortgage finance companies Fannie Mae and Freddie Mac. Rep. Barney Frank, D-Mass., the chairman of the ...
In Defense of Subprime - Cornell Daily SunBoth Sen. Obama and Sen. McCain have attacked everybody from hedge fund managers to oil companies for the doldrums that our economy is in. The root of all evil, as many would have us believe, is the subprime mortgage market and predatory lenders. Yet ...
Jefferson Bancshares moves to acquire State of Franklin - TradingMarkets.comThe cash and stock transaction is valued at $10.9 million, according to a press release issued after the stock markets closed Thursday. The merger is expected to be completed in the third quarter or early fourth quarter. Following the merger ...

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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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