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Area home prices dip 3.9% over 3rd quarter - Asbury Park Press
With the economy suffering its worst crisis in decades, home prices in the area that includes Monmouth and Ocean counties declined 3.9 percent in the third quarter of the year, the National Association of Realtors said Tuesday. The median sales price ...

State youth orchestra to play at St. Mary's - Examiner
An afternoon of delightful classical music is the promise of the New Jersey State Youth Orchestra (NJSYO) as its members present a benefit concert at St. Mary's Church, Route 34 and Phalanx Road, Colts Neck, at 4 p.m. Dec. 7. In exchange for ...

Millstone's House Hill Farm saga continues - Examiner
After years of cleanup and monitoring, House Hill Farm in Millstone has received a no further action letter from the state for illegal dumping that occurred there in the 80s. However, the accomplishment is bittersweet for the farm's current owners ...

Barack Obama: US must capture or kill Osama bin Laden - Times Online
Catching or killing Osama bin Laden will be one of the key targets of Barack Obama's administration as it is "critical" to American national security, the US president-elect confirmed last night. In his first televised interview since his historic ...

Barack Obama will follow Lincoln’s lead in choosing bipartisan ... - Times Online
Barack Obama said today he would appoint at least one Republican to his cabinet as he praised the wisdom of Abraham Lincoln – a president who gave top posts to several of his bitterest political enemies. Mr Obama, who meets John McCain in Chicago ...

School for the blind starts visionary newsroom - Newark Star-Ledger
Ed Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...

Man faces 15 years for $2.9M mortgage scams - Newsday
TRENTON, N.J. - A Monmouth County man faces 15 years in prison after pleading guilty to a series of financial scams in which he and his girlfriend bilked victims out of $2.9 million. Spiro Pollatos of Marlboro pleaded guilty Friday in state Superior ...

Monmouth man pleads guilty to running mortgage, investment scams - Newark Star-Ledger
The mastermind behind a series of mortgage and investment scams that cheated at least 20 people - many of them elderly - out of $2.9 million faces up to 15 years in prison after admitting his crimes today. Spiro Pollatos, 46, of Marlboro Township in ...

Monmouth County man faces 15 years for $2.9M mortgage scams - MyCentralJersey.com
TRENTON — A Monmouth County man faces 15 years in prison after pleading guilty to a series of financial scams in which he and his girlfriend bilked victims out of $2.9 million. Spiro Pollatos of Marlboro pleaded guilty Friday in state Superior ...

Mortgage lenders slam trust-fund plan - Courier-Post
TRENTON — A plan to create an estimated $40 million trust fund to help New Jersey residents who have subprime mortgages avoid losing their homes is instead creating a growing controversy. Nonprofit housing groups are championing the New Jersey ...

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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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