Cass Mortgage Rates and Information Online from competing Lenders

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Financial News
FBI: Bemidji realty scam inflated property values - KARE
An FBI affidavit accuses a real estate agent in Bemidji of participating in a conspiracy to inflate property values in through sham sales, kickbacks, and falsified loan applications. The 33-page affidavit obtained by the Star Tribune of Minneapolis ...

Total systemic breakdown, then and now - Salon
You won't find a more favorable demographic for Barack Obama than the parents and teachers of children who attend public school in Berkeley, California. So I can't say I was surprised yesterday, when a whole lot of happy pandemonium broke out during ...

SUBPRIME AND REAL ESTATE BLUES - Der Spiegel
Exposure to toxic U.S. subprime debt coupled with pressure from Britain's own real estate downturn spells trouble for British banks. Every day brings more bad news about the global financial-services sector. It's no surprise, then, that market ...

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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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