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News about Mortgages:
U.S. to spend US$800B encouraging lending - Windsor StarNEW YORK -- Worried that the availability of loans for homebuyers, students, car buyers and other U.S. consumers may soon seize up, the U.S. government is spending US$800-billion on two new programs aimed at encouraging lending. The shift to consumer ...
U.S. Fed issues US$800-billion in liquidity - Windsor Starhe Federal Reserve announced two new efforts to unfreeze credit for homebuyers, consumers and small businesses, committing up to $800 billion. The central bank will purchase as much as $600 billion in debt issued or backed by government-chartered ...
It's raining cash for Christmas - News.com.auTHE average Australian will head into Christmas close to $700 a month better off than they were six months ago, defying the common belief that bleak economic conditions are hurting families. Economists yesterday told The Daily Telegraph the cost of ...
Rolling up - The SunTHE US Federal Reserve’s decision to inject another $800billion into the economy helped bolster confidence in the City. The FTSE 100 ended up 18.3 points at 4171.25 after Monday’s record one-day jump. Banks led the way with STANDARD CHARTERED up ...
Affordable Housing in Connecticut Gets $1.8 Million Infusion - EarthtimesBOSTON , Nov. 26 /PRNewswire/ -- The Federal Home Loan Bank of Boston (the Bank) awarded more than $1.8 million as grants and a subsidized loan to fund 33 units of affordable rental and ownership housing in three communities. Of that amount, more ...
Citigroup bailout a necessary safeguard: Bush - CBC NewsU.S. President George Bush said Monday that the $20-billion US bailout of financial giant Citigroup was necessary help to get the economy back on its feet. "We have made these kinds of decisions in the past," Bush said in Washington in a brief ...
U.S. bailout defended - Toronto StarOTTAWA–Ottawa moved to bolster the financial system by adding $50 billion to a plan to purchase mortgages from the big banks, but federal Finance Minister Jim Flaherty signalled the government's reservations about aid for the auto industry. Despite ...
Retail sales soar past expectations - Globe and MailMike G from Canada writes: If everyone just minds their own business and stop talking doom and gloom, things would get better. North Amercian economies are consumer driven. As consumer confidence goes down, there goes the economy. If the house prices ...
Wal-Mart worker killed in bargain-hunting stampede - Globe and MailDick Garneau from Canada writes: Use of cash or debit cards is a good sign. Lets remember food banks and charity in our budgets. 'Eileen Klockow, 41, doesn't expect to start her holiday shopping until mid-December, when the post-Thanksgiving rush ...
House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News BlogsABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...
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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