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Fired Rutgers athletic chief getting $500,000 - Philadelphia Inquirer
NEW BRUNSWICK, N.J. - Former Rutgers University athletic director Robert Mulcahy will receive more than $500,000 in additional salary and perks before his five-year contract ends in June 2010. At the time of his firing last month, Mulcahy, 72, earned ...

Reaction to the rate cut - Financial Times
Mortgage lenders and savings providers react to the interest rate decision and experts explain what it means for individuals • Reaction from Mortgage lenders • Reaction from Savings providers • Comment on What this means for Individuals ...

OECD blames weak bank regulation for financial crisis - Times Online
A “gobsmacking” weakness in the way banks are regulated led to the current financial crisis, the OECD says today. The club of rich nations, in its twice-yearly financial review, blasted the regulatory framework as “very poor” because not only ...

Conference probes rural housing crisis - East Anglian Daily Times
THE lack of affordable homes and the impact of the credit crunch on rural areas is to be tackled today at a conference in East Anglia to be attended by top executives from across the housing, economic and finance sectors. The Commission for Rural ...

STOCKS NEWS ASIA-Shares to stutter as economy weighs - CNBC
WELLINGTON, Jan 9 (Reuters) - Asian shares are likely to inch higher on Friday, after U.S. stocks broadly rose on news Citigroup Inc would support legislation aimed at stemming home loan foreclosures. That news offset a disappointing sales for ...

UPDATE 1-New bank bailout not on the cards, UK's Brown says - CNBC
By Adrian Croft LONDON, Jan 4 (Reuters) - The British government is talking to lenders about stepping up loans to credit-starved companies, but a second bailout of banks is not the preferred option, Prime Minister Gordon Brown said on Sunday. "I don ...

Experts advise moving money out of Premium Bonds - Daily Telegraph
Adrian Lowcock, of independent financial advisers Bestinvest, said: "As interest rates continue to fall savers are being punished for the crimes of others. Indeed, in many circumstances they are actually losing out as inflation is higher than ...

A few home truths about your debts - The Australian
FORGET last year: it was a shocker for most of us, but it's gone and you can't do anything about it anyway. Far more important is getting scrubbed up for the new year, and making sure your finances and plans are lined up and pointing in the right ...

2.5m Norfolk drugs family jailed - Evening News Norwich
A family who were behind one of the biggest money laundering operations ever uncovered by Norfolk police have been jailed for their part in a £2.5m drugs empire. The six had all been at the centre of a massive drugs operation growing cannabis at two ...

Matter of Record, January 5 - Wichita Falls Times Record News
State Farm Mutual Automobile Insurance Co. vs. Joshua Eric Melton, 4118 Palomino, $4,616.49, V3317 P802. County of Williamson vs. Travis A. Holland, et al, 1419 N. 7th, $2,025.29, V3318 P20. Gant, Kenneth Adrian, Wichita County, Chapter 7, Date Filed ...

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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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