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News about Mortgages:
Home foreclosures on the rise in Franklin County - Public OpinionMore on the market: Foreclosed homes in Franklin County jumped from 16 last year to 28 today. In more typical economic times, the county has six to seven foreclosures on the market. Home foreclosures are up. The number of properties listed for ...
Gradual decline accelerates into quick shutdown - MSNBCThe end came swiftly, and suddenly, for Franklin Bank Corp. But the downfall slowly took shape more than a year ago when cracks formed in the holding company’s mortgage and loan operations across the country. Former executives in charge of Franklin ...
State Headlines - KCEN TV NBC 6WASHINGTON (AP) - Regulators shut down Houston-based Franklin Bank and Security Pacific Bank in Los Angeles on Friday, bringing the number of failures of federally insured banks this year to 19. The Federal Deposit Insurance Corp. was appointed ...
Empty homes a danger to fire fighters and a nuisance to officials - MetroWest Daily NewsAs the staggering economy leads to more foreclosures, local officials are left to deal with the problem of keeping the empty homes from becoming eyesores and safety hazards. On Labelle Street in Marlborough, the contents of a foreclosed home ...
People in business - Memphis Commercial AppealRalph McNeely has joined Magna Bank’s Quail Hollow office, and Bill Brown has joined Magna Bank’s Bartlett mortgage office. Drew Nadler and Allen Parker , financial advisers with Shoemaker Financial in Franklin, Tenn., have passed their FINRA ...
Foreclosure: Goepfert - Pierce County HeraldClinton Goepfert, Melissa Goepfert and Mortgage Electronic Registration Systems, Inc., acting solely as a nominee for First Franklin Financial Corp., an OP. SUB. of MLB&T CO, FSB, Defendants. PLEASE TAKE NOTICE that by virtue of a judgment of ...
Stop low-cost housing drain - Detroit Free PressAddressing Congress nearly 75 years ago, President Franklin D. Roosevelt called adequate housing a right of every American family willing to work. Fifteen years later, the Housing Act of 1949 set national goals that included "a decent home and a ...
Bocce courts beckon workers - Nashville TennesseanFRANKLIN — It's a bit of an unusual site for a commercial center, or even a park for that matter. Surrounded by the restaurants, offices and shops at the growing Meridian Cool Springs development off Carothers Parkway are a pair of bocce courts ...
Our view: No victims here but the taxpayers - Eagle-TribuneIt is interesting to see and hear readers' comments on our Sunday story concerning a Haverhill woman and the worldwide financial crisis triggered by failed mortgages. Some readers posting on our Web site and others calling our office questioned ...
How Merril Lynch faltered & fell - Deccan HeraldTo make matters worse, Merrill sped up its hunt for mortgage riches by embracing and trafficking in complex and lightly regulated contracts tied to mortgages and other debt. There were high-fives all around Merrill Lynch headquarters in New York as ...
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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