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EU, Australia toast new wine deal - Lexington Herald-Leader
BRUSSELS, Belgium -- The European Union and Australia signed an agreement Monday that will protect such European names as "Champagne" in Australia while further opening European markets to wines from Down Under. The deal will give geographical ...

TransUnion: 3Q mortgage delinquencies shoot higher - AOL
NEW YORK -The percentage of people who are two months behind on their mortgages shot up in the third quarter from the same period last year, according to credit reporting agency TransUnion LLC. For the quarter ended Sept. 30, 3.96 percent of people ...

White House ignored meltdown warnings - Times Union
WASHINGTON — The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient ...

Housing: Government to underwrite mortgage loans - Scotsman.com
ortgages are packaged up and sold by lenders to raise money, has been a key factor in the drying up of mortgage funding. Ministers need European Union approval before implementing the scheme. But, the delay could be costly, the Council of Mortgage ...

Government plans new credit, mortgage programs - Times Union
WASHINGTON -- The government introduced a pair of new programs Tuesday that will provide $800 billion to help unfreeze the market for consumer debt and to make mortgage loans cheaper and more available. The new programs from the Federal Reserve and ...

Lenders halt home foreclosures for the holidays - Orlando Sentinel
Just in time for the holidays, mortgage lenders in Florida have agreed to voluntarily halt new foreclosures against homeowners for the next 45 days, Gov. Charlie Crist said Monday. The move comes a week after Crist said he was considering an ...

Lower US Mortgage Rates Lift Application Demand - CNBC
Lower U.S. mortgage rates lifted demand for mortgage applications last week, a trade group said on Wednesday, and demand should escalate after a new broad-brushed government plan to support the housing markets. With average 30-year fixed loan rates ...

Week in Review - Sunday, Nov 30 - Delaware Online
Secret 'superchecks' let state police look at mental health records. WASHINGTON -- When the government took over mortgage giants Fannie Mae and Freddie Mac, taxpayers inherited more than just bad debts. They're also potentially on the hook for tens ...

REFILE-Lower US mortgage rates lift applications demand - Forbes
NEW YORK, Nov 26 (Reuters) - Lower U.S. mortgage rates lifted demand for mortgage applications last week, a trade group said on Wednesday, and demand should escalate after a new broad-brushed government plan to support the housing markets. With ...

TOPWRAP 3-Australia cuts rates, EU thrashes out economy plan - FXStreet.com
BRUSSELS/SYDNEY, Dec 2 (Reuters) - European Union ministers sought ways on Tuesday to boost investment and consumer spending while Australia slashed interest rates in the latest actions to combat the global financial crisis. The Bank of Japan moved ...

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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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