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News about Mortgages:
A home of their own - Orange County ReviewOrange County Habitat for Humanity is about to start building their 24th house. This chapter of the national organization started in 1990 and has successfully built 23 houses within the county for families in need. Habitat is an all-volunteer ...
Spending despite economic crisis - Daily Local NewsHave you noticed that we're in the middle of an economic crisis with stocks at their lowest level in five years and housing sales down by 40 percent amid the 900-person layoffs at QVC? Whether you're a retiree living on a fixed income or a parent ...
Republicans spent $150,000 on Sarah Palin's clothes - Times OnlineThe Republican Party has spent $150,000 in upmarket designer stores on dressing Sarah Palin for the part of vice-president. During September, more than $75,000 was spent in a single shopping spree at Neiman Marcus in Minneapolis, and another $9,500 ...
93% of All Mortgages are Being Paid on Time - Shelbyville Times-GazetteTreasury Secretary Henry Paulson said Thursday that many proposals being put forward to deal with the housing slump would do more harm than good. While he still believes that the housing problem remains the biggest downside risk to the economy ...
Keys to keeping money in your pocket - TriVallyCentralIn what economists last week predicted would be a long, tough recession, everyone seems to be losing. People are losing their homes. People are losing their jobs. And of course, everyone is losing money. So how can you keep as much money as possible ...
Keys to keeping your money in tough times - Connecticut CentralIn what economists last week predicted would be a long, tough recession, everyone seems to be losing. People are losing their homes. People are losing their jobs. And of course, everyone is losing money. So how can you keep as much money as possible ...
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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