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News about Mortgages:
It's a global Bay Day! - Edmonton SunA panel of economic heavy hitters offers advice that could have been ripped from the cover of the Hitchhiker's Guide to the Galaxy: Don't Panic. That was the gist of a panel discussion hosted by Edmonton Economic Development Corporation yesterday at ...
A case study in housing collapse - St. Petersburg TimesTAMPA — Thousands of miles from the trading floors of global stock markets, an abandoned house in one of Tampa's poorest neighborhoods is an improbable place to learn about why the world's financial system is collapsing. But if you want to ...
Pollock's troubles; Paulson and a new plan - OregonianOlivia Bucks/The Oregonian Buena Vista Custom Homes' Lincoln Heights subdivision is mostly empty lots in Happy Valley. Sterling Savings Bank has sued to foreclose on many of the subdivision lots. Roger Pollock on the ropes: I wrote in today's ...
Foreclosure Plans May Lead To Mortgage High Jinks - ForbesAs foreclosure prevention programs expand, they face a dilemma: there's no way to separate all the people who need a mortgage modification from people who just want one. "The fact is that you're creating a large incentive for many people to default ...
New bailout focus: how to fight foreclosures - Christian Science MonitorWashington - First came Wall Street. Now Washington is turning more of its attention to Main Street, as the federal government moves to try and rescue more mortgage holders in financial trouble. On Nov. 11, administration officials ...
Mortgage mess grew from greed, not fair-lending law - Seattle Post IntelligencerSome people blame a fair-lending law for the mortgage meltdown and the resulting global financial crisis. Evidence shows otherwise. The Community Reinvestment Act, passed in 1977, requires banks to extend loans where they accept deposits. It was ...
Freddie seeks gov't aid after $25.3B loss - BusinessWeekFreddie Mac is asking for an initial injection of $13.8 billion in government aid after posting a massive quarterly loss Friday. The mortgage finance company is making the first request to tap the $200 billion promised by the Treasury Department to ...
Freddie seeks government aid after huge loss - MSNBCWASHINGTON - Freddie Mac is asking for an initial injection of $13.8 billion in government aid after posting a massive quarterly loss Friday. The mortgage finance company is making the first request to tap the $200 billion promised by the Treasury ...
The Mortgage Morass - ForbesOn Tuesday, many of America's largest banks, along with Fannie Mae and Freddie Mac , announced a new program to streamline the process of modifying hundreds of thousands of mortgages, hoping to save troubled homeowners and jump start the stalled ...
Freddie seeks 1st injection after posting huge 3Q loss - Baltimore SunWASHINGTON - Freddie Mac is asking for an initial injection of $13.8 billion in government aid after posting a huge quarterly loss yesterday. The mortgage finance company is making the first request to tap the $200 billion promised by the Treasury ...
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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