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News about Mortgages:
Law firm: Carter's AG, Bell, dies in Atlanta at 90 - Buffalo NewsGriffin B. Bell, the shrewd Southern lawyer who grew up with Jimmy Carter and became U.S. attorney general after Carter was elected president, died at an Atlanta hospital Monday. He was 90. Bell died at 9:40 a.m., said Les Zucke, a spokesman for ...
Finance & law: 2008's top stories - San Jose Business JournalIn one of the first major events of the subprime mortgage crisis, Bank of America Corp. stepped in to buy struggling Countrywide Financial Corp. for $4 billion in stock. The move was widely seen as a deal shepherded by bank regulators who feared the ...
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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