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News about Mortgages:
We're all suffering - but who are the worst hit? - The IndependentRising unemployment, falling house prices... the struggling economy is having an impact everywhere. Samantha Downes looks at the regional variations The recession is biting hard right across Britain, but some of us have been feeling the downturn much ...
Joseloff leads second meeting on affordable housing - Westport MinutemanFirst Selectman Gordon Joseloff pressed on this week with his oft-stated goal of increasing affordable housing in Westport as he lead a team of public officials in presenting a conceptual plan for 104 new affordable housing units at town-owned land ...
Exclusive: ‘Made in China’ – Is It Time for This Label to Leave ... - Family Security MattersAs we approach Christmas (yes, we say Merry Christmas in this column), critical issues of security, employment, product safety, commerce, and our influence as consumers and voters converge. A cautionary tale for this Holiday and entertaining season ...
Britain faces crisis as negative equity to reach 2 million - Times OnlineCollapsing house prices are plunging 60,000 homeowners a month into negative equity, which means the country is on course for a worse crisis than the 1990s crash. At current trends, 2m households will enter negative equity by 2010, outstripping the 1 ...
Fox Cities residents show why who is chosen president matters - Post-CrescentMaury Mead heard from doctors last month that his heart is giving out. Liz MacKelvie dreams of one day flying thousands of miles to help a child named Noah. Andy Balliet has loaded up a duffel bag full of candy to hand out to Iraqi children. These ...
Better to downsize than risk repossession - Times OnlineDownsizing used to mean selling a large-ish house and moving to something smaller, probably in the countryside. But now the term can also imply enforced relocation, long before retirement, opting for the bijou in a less sought-after postcode, because ...
Home buying getting harder in Tri-Cities - Tri-City HeraldJennifer and Michael Mead had a tough time getting financing for their new Kennewick home despite the fact that they have good credit, have owned a home before and have steady jobs. When Jennifer and Michael Mead bought their first house in 2005, the ...
How President Obama May Attack the Housing Crisis - US News and World ReportBy taking the White House and building on their majorities in Congress, the Democrats are in a great position to move legislation. And since it remains at the heart of the financial mess now threatening to drag the economy into a deep recession, look ...
Agents say cut will kick-start house market - Evening StandardESTATE agents today predicted the historic base rate cut to three per cent will kick-start buying even if some mortgage lenders hold back from passing on the full drop to borrowers. Although most said it was too early to see a marked impact on the ...
Big Ten battles - Midland Daily NewsDaily News/NATHAN MORGAN Employees of Currie Kendall PLC, from left, Naomi Granum, Sara Philo and Donna Lind, spend their lunch break at Saginaw Bay Underwriters' "business block party," Friday afternoon in Midland. The party, which was held in the ...
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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