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Former East Cleveland Detective Tiffiney Cleveland admits misusing ... - Cleveland Plain Dealer Blog
Former East Cleveland police Detective Tiffiney Cleveland pleaded guilty Wednesday to using her police computer to help her future husband, a drug dealer, avoid arrest. Cleveland admitted giving information to Lesean Roberts, a convicted cocaine ...

Cleveland, Columbus lagging Cincinnati - Cincinnati.com
Ohio has had the dubious distinction of appearing among the ranks of those states with foreclosure rates higher than the national average. In the latest release of the Mortgage Bankers Association's National Delinquency Survey, Ohio, Florida, Nevada ...

Paulson says changes needed at Fannie, Freddie - Cleveland Plain Dealer Blog
Associated Press File Treasury Secretary Henry Paulson says allowing mortgage giants Fannie Mae and Freddie Mac to return to their old operating ways is not an option. WASHINGTON -- Treasury Secretary Henry Paulson says allowing mortgage giants ...

PR Newswire Provides Grant to Ronald McDonald House and Habitat for ... - StreetInsider.com
Cleveland-Based PR Newswire Staff Volunteer Time As Part of the Company's 'Doing Well by Doing Good' Initiative CLEVELAND, Jan. 5 /PRNewswire/ -- Ronald McDonald House of Cleveland and the Greater Cleveland Habitat for Humanity, two non-profit ...

2009 economy could remain gloomy for Northeast Ohio - WKYC
CLEVELAND -- Whether you use a crystal ball or a computer program, the economic numbers still don't look good for the Cleveland area. It is very possible that 2009 may be just as bad, if not worse, than 2008 across Northeast Ohio. Now that National ...

AmTrust submits turnaround plan to regulators - Cleveland Plain Dealer
After being cited for unsound banking practices and losing money the last two quarters, Cleveland's AmTrust said Tuesday that it has submitted a turnaround plan to regulators. Spokeswoman Donna Winfield said the plan was submitted Monday to the ...

Lawsuit Targets Banks With Novel Tactic - The Washington Independent.com
Some Cleveland neighborhoods have a message for banks that abandon their foreclosed houses or unload them at fire sale prices to speculators: Stop dumping your trash on us. Illustration by: Matt Mahurin Using a novel legal technique that could be ...

Greater Cleveland home prices decline; fare better than other areas - Cleveland Plain Dealer
Home prices in Greater Cleveland declined in October for the second straight month, but most metropolitan areas fared far worse, according to data released Tuesday. Cleveland-area prices declined 6.2 percent from October 2007, the Standard & Poor's ...

New PNC size raises questions - Pittsburgh Tribune Review
As PNC Financial Services Group prepares to complete its acquisition of National City Corp. on Wednesday and more than double its branch count, PNC could ramp up a national mortgage banking business. But don't bet on it, said industry analysts on ...

WRAPUP 1-B of A, Wells close mergers as banking transforms - FXStreet.com
NEW YORK, Jan 1 (Reuters) - Bank of America Corp completed its purchase of Merrill Lynch & Co and Wells Fargo & Co finished buying Wachovia Corp, the latest sea changes in a transformed banking industry facing dire economic times ahead. The Merrill ...

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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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