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Local family moves into Habitat for Humanity home in Quincy - Patriot LedgerA local woman and her two children are moving into a Habitat for Humanity home on Bower Road in Quincy Center. Nancy Abrams, who has lived in the city for 16 years, passed papers on the house Friday. It is the sixth Habitat home in the city and the ...
Big Three automakers scramble for aid - Politico.comThe Big Three automakers — General Motors, Ford and Chrysler — have enlisted every stakeholder in their fate as they push Congress and the White House for $25 billion in aid. Autoworkers, parts suppliers, dealers and retirees have all pitched in ...
Teacher's world approach wins $1,000 award - Boston GlobeDeanne Moore , an English teacher at Hingham High School, has earned the GEM-AIG WorldSource Teacher Award for Excellence in International Education. The $1,000 prize goes annually to a teacher who makes exceptional contributions to the field of ...
Compelling course at gym - Boston GlobeBret Bondlow is hoping a course he is offering at his Hanover business, Compelling Fitness, will offer new help to autistic children and adults, and anyone with special needs. The business opened last December, and shortly thereafter, Bondlow, a ...
Fuel assistance available - Hingham JournalMassachusetts Fuel Assistance is available for individuals and families who qualify under the income guidelines. Required documentation includes gross income of all household members, including those on Social Security; identity and address ...
COMMENTARY: Crisis not failure of capitalism, but a failure of ... - Cohasset MarinerThis is not a ‘bailout’, but an insurance policy to restore order to the capital markets. The cost to all of us is enormous, but the consequence of the virtual collapse of our capital and credits markets would be far more painful. Everyone with ...
Protecting yourself from Wall Street meltdown - Patriot LedgerThe Lehman Bros. bankruptcy will affect consumers who have invested in shares of the investment bank, as their equity will be wiped out. But any losses will likely be blunted because most consumers who own Lehman Bros. shares do so through mutual ...
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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