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IN BRIEF: News around Downriver - News-HeraldThe Detroit Zoo will be open from 10 a.m. to 4 p.m. daily through March 31, though it’ll be closed on Christmas and New Year’s Day. Winter visitors often find that when the temperature drops, many of the animals become more active outdoors. There ...
On the move - Santa Rosa Press DemocratBrett Martinez, president and CEO of Redwood Credit Union in Santa Rosa, was named Board Chairman of the California Credit Union League during its recent annual convention in San Francisco. Click to enlarge Headquartered in Rancho Cucamonga, the ...
Erie County Real Estate Transactions - Buffalo NewsFollowing are real estate transactions over $5,000 as listed in records of the Erie County clerk’s office for the week ending Oct. 10. ALDEN • 360 Cayauga Creek Road, Thomas J. Sundstrom; Valerie M. Sundstrom to Kevin E. Glowka; Cheryl L. Glowka ...
BRIEFLY: News around Downriver - News-HeraldWith winter weather here, AAA Michigan is seeking donations of coats, hats, gloves, scarves and blankets at its Southgate branch, 15150 Fort St., from Monday through Dec. 12. Donated items will be delivered to a local charity for distribution to ...
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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