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News about Mortgages:
New low mortgage rates out of reach - The Washington TimesA 30-year, $350,000 mortgage bearing a fixed rate of 5.25 percent instead of 6.5 percent would save a borrower $280 per month. A half-percentage-point reduction to 5.5 percent would yield a monthly savings of $111. "Many people have been sitting on ...
Developers eye vacant Newport school for arts center - Newport Daily NewsA Newport developer is interested in acquiring the abandoned Sheffield School on Broadway and turning it into an arts center. (Jacqueline Marque/Daily News staff) The Newport couple that is converting Lenthal School on Spring Street into upscale ...
U.S. Bancorp Bets on Los Angeles, Taking on Bank of America - BloombergDec. 5 (Bloomberg) -- Los Angeles residents already know U.S. Bancorp because the city’s tallest building bears its name. Now, the Minneapolis company is courting locals and taking aim at Bank of America Corp., its top rival in the region. The 72 ...
Running on empty - Business Courier'There are some great deals … if you have cash or the wherewithal to get a loan.’ Tom Singer at an Indian Hill home Ben Wilcoxson has worked both sides of the housing bubble. Prices were rising when the young Realtor broke into the business in ...
Developers suggest turning Sheffield into arts center - East BayNEWPORT — A developer with eyes on the vacant Sheffield School is asking residents for their input on a proposal to convert the former elementary school into a community hub for artists, musicians and local non-profits. The concept is ...
Appraisers say they were pushed to overvalue properties - HamptonRoads.comClick a thumbnail to view the full-size image. Buy Pilot photos here. Loading... Real estate appraisers in Hampton Roads and across the nation say they have felt intense pressure from lenders, mortgage brokers and real estate agents to deliver ...
Home prices in record plunge - Denver PostNov 27: Black Friday's power fading Analyst: Retail season is over Nov 25: State's oil and gas firms cut back Nov 20: Deductibles take bigger bite High-end home sellers turn to leasing Nov 19: Automakers justify asking Congress for a financial fill ...
Black Friday shoppers spend -- with caution - Los Angeles TimesConsumers carted out flat-screen TVs, loaded up on the latest Elmo toys and raced to grab designer shoes Friday as retailers across the country anxiously held their breath. It was the traditional start of the holiday shopping season, complete with ...
Home sweet home builders? - Los Angeles Times BlogsHopes that government intervention will bolster the housing market are giving a boost to home-builder stocks. But investors hoping for a lasting turnaround in the ravaged sector may be building castles in the air. The five home-builder stocks in the ...
US home construction sinks to new record low - Associated PressWASHINGTON (AP) -- Construction of new homes plunged last month to the lowest level on records going back nearly 50 years as U.S. builders slashed production while Wall Street nosedived. Embattled homebuilders, who enjoyed a five-year boom, are now ...
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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