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GM Assures Buyers in Ads After GMAC Retreats on Loans (Update5) - BloombergOct. 16 (Bloomberg) -- General Motors Corp. , facing a drop- off in loans from former lending unit GMAC LLC , will begin advertising tomorrow to reassure buyers they can still borrow from hundreds of banks. The push by the largest U.S. automaker ...
People On the Move - Pittsburgh Business TimesJoseph Meleason, Justine Pelesky, Anne McCready and Amanda Beerens joined Parente Randolph’s audit team, and Terry Gutshall is a new member of the senior living services team. Meleason is a recent graduate of Theil College where he earned a ...
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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