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Indiana sues Countrywide over lending practices - MSN MoneyCentral
INDIANAPOLIS (AP) - Indiana has sued Countrywide Financial Corp., becoming the latest state to take the mortgage lender to court over its lending practices. Indiana Attorney General Steve Carter said in a news release Sunday that a state ...

Lindsey Hunter & Mortgage Fraud: Unraveled by Ralph R. Roberts - Forbes
DETROIT, Aug. 27 /PRNewswire/ -- Ralph R. Roberts, a nationally known real estate and mortgage fraud forensic analyst and the co-author of "Protect Yourself from Real Estate and Mortgage Fraud: Preserving the American Dream of Homeownership" (Kaplan ...

Lehman said to be eliminating as many as 1,000 jobs - Evening Star
(Bloomberg) - Lehman Brothers Holdings Inc., the investment bank that's trying to shed mortgage assets and raise capital, is poised to eliminate as many as 1,000 jobs, or about 4 percent of its work force, in the fourth round of cuts at the firm this ...

Lehman might form company to buy mortgage assets - Evening Star
(Bloomberg) - Lehman Brothers Holdings Inc. may set up a company funded by outside investors to buy some of its mortgage assets, aiming to dispel concern the firm faces crippling losses, people familiar with the discussions said. Investors in the new ...

Down times for upscale eateries - Detroit News
The list reads like a guide to fine dining in Detroit. Seldom Blues, along with its owner, the Southern Hospitality Restaurant Group, is on it. So, too, are the venerable Rattlesnake Club and Asian Village, the sprawling, now-shuttered $4.5 million ...

Mile High Letdown - Slate
Obama Speech React: 1) A little flat, and not just because of it's now-required State-of-the Union laundry-list passages; by September; 2) Background off, color-wise; 3) Best graf by far: I love this country, and so do you, and so does John McCain ...

RBA to wield rate knife with caution - News.com.au
CONTINUED strong demand from China for raw materials is likely to stop the Reserve Bank of Australia from granting home owners two consecutive rate cuts. New figures from the Australian Bureau of Statistics released yesterday showed business ...

FINANCIAL SERVICES OUTLOOK - American Enterprise Institute
Having now become explicitly government-backed entities, Fannie Mae and Freddie Mac (and their supporters in Congress) can no longer argue that they do not pose a risk to taxpayers. It is not politically feasible for the government to back private ...

COMMON PLEAS - Salem News Online
Ohio Bureau of Workers Compensation v. Anthony M. Voegeli, etc; collection sought of $4,153. Ohio Department of Taxation v. Pauls Cab Co.; collection sought of combined $6,005. Ohio Department of Taxation v. Steven Smith, etc; collection sought of ...

Lawsuits piling up over Fifth Third's stock, finances - Business Courier
Class-action securities lawyers representing owners of Fifth Third Bancorp stock hit the Cincinnati bank and its senior officials with three new lawsuits in Cincinnati federal court earlier this month. The suits allege that the defendants issued ...

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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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