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News about Mortgages:
Local bank earnings hit by credit crisis - Charleston Regional Business JournalThe national credit crisis defined the most recent quarterly earnings statements of S.C. banks big and small. Most of the reports of poor earnings, ranging from a $23.89 billion loss at Wachovia Corp. to a $127,000 loss at Southern First Bancshares ...
Real estate transfers: Nov. 17 - Knoxville News SentinelProvision Properties LLC to East Tennessee Healthcare Development LLC, in Dowell Springs subdivision, $2,138,600. Kamilia Kozlowski to East Tennessee Healthcare Development LLC, in Dowell Springs subdivision, $1,590,426. About Face Properties LP to ...
House approves deep cuts - Charleston Post & CourierCOLUMBIA — A plan to cut nearly $500 million in spending is on its way to the state Senate after the House on Tuesday voted down one proposal after another on everything from raising the cigarette tax to undoing property tax relief. The Senate will ...
Charter reformers decry 'distraction tactics' - Knoxville News SentinelPlease download the latest version of Adobe Flash Player , or enable JavaScript for your browser to view the video player. A spokesman for Knox Charter Petition says opponents to proposed charter changes have got their facts wrong. Further, Gary ...
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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