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News about Mortgages:
Franchise owners whet Rochester-area appetites for Moe's Southwest ... - Democrat and ChronicleWhen Andrew and Brad DeGrazia moved to the Rochester area, they brought a taste of their old home in Arizona with them. Since 2005, they have opened two Moe's Southwest Grill restaurants in the Buffalo area and three around Rochester. The most recent ...
Home Mortgages Still Available in Rochester - 13 WHAM(Rochester, N.Y.) – In many parts of the country, the money crisis is impacting the ability to get credit, particularly home mortgages. That is not necessarily the case in Rochester, if your income is good and credit is good. All Missy Pennica ...
Eighty Parrish Street marks quarter century - MPNowBob Abraham has watched hundreds of neighbors come and go over the last 25 years. He says friends are never in short supply at Eighty Parrish Street Apartments, where he has lived since the day the complex opened. “It’s really a good place to be ...
Banks, auto dealers team up to promote loan availability - Democrat and ChronicleLocal banks want you to know they have cash for cars. Why do consumers need reminding that banks have money? With all the news since mid-September of frozen credit markets, Rochester-area bankers and auto dealers are concerned that people assume car ...
Habitat For Humanity Bike Ride coming - Courier GazetteThe 16th Annual Habitat for Humanity of Wayne County Bike-a-thon is September 8, at 9, with registration beginning at 8:30 a.m. There will be a choice of two routes, both starting and ending at the Village of Macedon Park, located on Rte. 350 and the ...
Notes for Home Buyers - WOKR 13My story on challenges facing home buyers seeking loans got me in touch with a number of people who lent equally valuable perspective to this situation. In a nutshell, expect mortgages to be granted in the fashion that they’ve traditionally been ...
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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