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US government to take control of Fannie, Freddie-papers - Forbes
WASHINGTON/NEW YORK (Reuters) - The U.S. government plans to put government sponsored mortgage finance companies Fannie Mae (nyse: FNM - news - people ) and Freddie Mac (nyse: FRE - news - people ) under federal control, the New York Times and ...

Historically Speaking: A tale of two churches - Portsmouth Herald
On a hot June evening in 1854, a group of liberal Christians met in the Odd Fellows Hall in downtown Exeter to vote the Universalist Society out of existence. Out of the meeting, the First Unitarian Society of Exeter was born. There had been a small ...

Sarah Palin: An Apostle of Alaska - MSN UK News
John McCain was not her dream pick. Only a year ago, when the republican primaries were just beginning, Alaska Gov. Sarah Palin told NEWSWEEK that she wasn't enthusiastic about anyone in the GOP field. McCain was languishing at 7 percent in the polls ...

McCain's Annoying Little Fraud - Slate
( Pierre, S.D .) McCain would like everyone to think his campaign imploded last summer because of his courageous support for the surge in Iraq : I fought for the right strategy and more troops in Iraq, when it wasn't a popular thing to do. And when ...

WEIRD NEWS: Town Burns Down Strip Club - The Ledger
LAVONIA, Ga. | The windowless building that once housed the town's only strip club sits empty in the middle of a sprawling gravel parking lot, made all the uglier by the scars from its final party. (AP Photo) In this photo provided by the city of ...

Detroit mayor pleads guilty in sex scandal, quits - Chicago Tribune
DETROIT - Mayor Kwame Kilpatrick was bounced from office Thursday in a deal with prosecutors that will send him to jail and put an end to the sex scandal that embarrassed this chronically struggling city and preoccupied its government for months. The ...

McCain Accepts Nomination, Says He'll Fight to Restore Party ... - ABC News
Early on, a small group of protesters in the hall disrupted McCain's speech holding a sign that read "McCain votes against vets." Two women wearing pink yelled "end the war!" and were dragged out of the hall by security.

Cockrel: Kilpatrick can stay longer in Manoogian - Detroit News
DETROIT -- After a day of conflicting statements, City Council President Kenneth V. Cockrel is now willing to give more time for Mayor Kwame Kilpatrick to move out of the Manoogian Mansion once he resigns, a Cockrel aide said late Friday afternoon ...

Cockrel wants Kilpatrick out of Manoogian upon his resignation - Detroit News
DETROIT -- City Council President Kenneth V. Cockrel has changed course and decided Mayor Kwame Kilpatrick should move out of the Manoogian Mansion once he resigns, a Cockrel aide said Friday afternoon. Earlier, Cockrel had said he had no qualms ...

Accountant's Theft Excuse? "Deep Middle Age" Depression - CFO.com
A Melbourne, Australia, accountant, guilty of stealing nearly $810,000 from a client of 10 years, told the judge through his lawyer that the thefts were the actions of a man in "deep middle age" and suffering from depression. Lance Robert Scholes ...

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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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