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News about Mortgages:
Register for FREE - Wall Street JournalHere's a fact to mull over: Washington a few months ago might have bought the entire stock of subprime mortgages for about half the money committed by the Fed and Treasury last week to prop up Citigroup and spur consumer and mortgage lending. Corbis ...
ArcelorMittal, USW, reach agreement - NWITimes.comBURNS HARBOR | The United Steelworkers and ArcelorMittal reached an agreement Wednesday eliminating the forced layoffs of 2,444 hourly workers at its Burns Harbor plant. Paul Gipson, president of United Steelworkers Local 6787, said the company and ...
Relief for renters - News.com.auRENTERS finally look set to gain some breathing space because of lower interest rates and the possibility of a global recession. The latest quarterly rental report by Australian Property Monitors shows falls or no change in rents for a number of ...
Obama Hears a Giant Sucking Sound - Wall Street JournalHis friends advise Barack Obama to launch a "New" New Deal. Maybe that's because the old New Deal is sinking fast. Mr. Obama's one deeply false note during the campaign was his harping on "deregulation" as if that were the source of current troubles ...
McCain says Obama will 'say anything' to win - Washington PostRepublican presidential candidate Sen. John McCain, R-Ariz., gives the thumbs up sign after speaking at a rally, Wednesday, Oct. 22, 2008, at Lunken Airport in Cincinnati. (AP Photo/Al Behrman) (Al Behrman - AP) Republican presidential candidate Sen ...
Alistair Darling's innovations may stave off depression - Times OnlineThere is more than one way to skin a cat. There might have been simpler and cheaper ways of preventing the collapse of Britain's financial system than that chosen yesterday by Gordon Brown and Alistair Darling. I have argued, for example, that the ...
RBA cuts rates - now pass it on - News.com.auTHE Reserve Bank of Australia today cut official interest rates by a bigger than expected 75 basis points to 5.25 per cent. Most analysts and economists had forecast a 50 basis point reduction. Following the cut, Federal Treasurer Wayne Swan said the ...
A week of stupid politics but good economics - Times OnlineShock. Horror. VAT could go up after the next election. Or it could go down - or stay the same. The same can be said of income tax and council tax and road tax. It can also be said about public spending, government deficits, the FTSE index, the oil ...
Darling details £50 billion bank bailout plan - Times OnlineChancellor Alistair Darling today launched a drastic rescue of Britain's high street banks in move designed to head off a cataclysmic failure of confidence by announcing a part-nationalisation plan with £50 billion of taxpayers' money. He said there ...
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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