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Signs mount of deepening recession - Austin American-Statesman
WASHINGTON — The latest evidence of a deepening recession that's already the longest in a quarter-century came Wednesday in a pair of reports that found little relief in sight. The U.S. service sector shrank far more than expected in November, as ...

Private jobs, services slump show recession toll - MSN MoneyCentral
NEW YORK (Reuters) - Private employers cut 250,000 jobs in November, an unexpectedly large number and the biggest in seven years, while the service sector, which powers most of the economy, posted its worst slump on record. Wednesday's reports were ...

Service industries tumble to record low; Fed reports nationwide ... - Minneapolis Star Tribune
WASHINGTON - The latest evidence of a deepening recession that's already the longest in a quarter-century came Wednesday in a pair of reports that found little relief in sight. The U.S. service sector shrank far more than expected in November, as ...

Obama: Financial bailout must help homeowners, too - Associated Press
WASHINGTON (AP) -- The latest evidence of a deepening recession that's already the longest in a quarter-century came Wednesday in a pair of reports that found little relief in sight. The U.S. service sector shrank far more than expected in November ...

WRAPUP 4-US private jobs, services slump show recession toll - FXStreet.com
NEW YORK, Dec 3 (Reuters) - U.S. private employers cut 250,000 jobs in November, an unexpectedly large number and the biggest in seven years, while the service sector, which powers most of the economy, posted its worst slump on record. Wednesday's ...

US private jobs, services slump show recession toll - Guardian Unlimited
NEW YORK, Dec 3 (Reuters) - U.S. private employers cut 250,000 jobs in November, an unexpectedly large number and the biggest in seven years, while the service sector, which powers most of the economy, posted its worst slump on record. Wednesday's ...

Service sector shrinks as new orders fall in Nov. - San Francisco Gate
Wednesday, December 3, 2008 The Institute for Supply Management, a trade group of purchasing executives, said Wednesday that its services sector index fell to 37.3 in November from 44.4 in October. It was well below the reading of 42 expected by Wall ...

ISM: New Orders, Prices Plummet - Street.Com
By Ellen Simon NEW YORK -- The U.S. service sector contracted far more than expected in November, as employment, new orders and prices fell precipitously, hurting retailers, hotels and airlines. The Institute for Supply Management, a trade group of ...

Art's big dreams are worth the cost - Los Angeles Times
Wotan built a house he couldn't afford. Credit was easy; he was a god, after all. He had a particularly wily mortgage broker in Loge, the god of fire, who knew how to manipulate questionable underground funds. The deal went bad. The titans of finance ...

Worldwide worry - Boston Globe
Waves of panic selling swamped stock markets around the world yesterday as a spreading crisis in confidence battered investors from Tokyo to Brazil and intensified concerns over a potential global recession. In another wild day on Wall Street, the ...

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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