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News about Mortgages:
Blame Television for the Bubble - Wall Street JournalSo now we know what happens when too many people who have too few assets buy too much house with the help of too many risky mortgage products and too little oversight. And while there's plenty of blame to go around -- unethical mortgage brokers ...
Clarence Thomas - Reason.comThomas's character was sculpted by his fierce, proud grandfather, Myers Anderson of Savannah, Georgia, who raised Clarence and his brother during the twilight years of segregation. Thomas went on to Holy Cross, where he was an angry black militant ...
Franken Named Minnesota Winner - NationAfter weeks of Minnesota recount wrangling over the close contest between Republican Senator Norm Coleman and Democratic-Farmer-Labor Party challenger Al Franken, the state canvassing board has certified Franken as the winner. The canvassing board ...
Political Punch - ABC News BlogsJake Tapper is ABC News' Senior White House Correspondent based in the network's Washington bureau. He writes about politics and popular culture and covers a range of national stories. In his radio address today, President-elect Obama uses some new ...
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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