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Owner, 32, looted East Providence title business - Providence Journal
PROVIDENCE — The former owner of a title insurance firm in East Providence pleaded guilty yesterday to a federal fraud charge for looting more than $1.3 million from company accounts and using the money for vacations, hair care, cosmetics and ...

Providence wants bigger piece of housing pie - Providence Journal
PROVIDENCE — The city is expected to receive more than $9 million to stimulate investment and stabilize neighborhoods hardest hit by home foreclosures under a plan the state is submitting to the federal government on Monday. But the city, which is ...

Economy’s slow pulse doesn’t hurt health jobs - Portland Tribune
Erin Bruner (left) draws a shot of insulin for one of her patients as co-worker Heather Cox verifies the medication at Providence Portland Medical Center. Bruner recently changed careers to became a nurse because future job prospects seemed bright ...

Ex-owner of RI closing co. pleads guilty to fraud - Boston Globe
PROVIDENCE, R.I.— The former president of a real estate closing company has pleaded guilty to spending more than $1.3 million in company money on her personal expenses. Thirty-two year old Angela Raposa, of East Providence, pleaded guilty Monday to ...

In four Union towns, taxes hit five figures - Newark Star-Ledger
The average homeowner's tax bill in four of Union County's 21 communities has now crossed the $10,000 mark, according to county tax officials. In Summit, Westfield, New Providence and Scotch Plains, the average homeowner is now looking at an annual ...

General Growth wins extension on $900M loans - Providence Business News
CHICAGO – General Growth Properties Inc. (NYSE: GGP) has been granted a two-week extension for $900 million of short-term mortgage debt that had been set to expire last Friday. The loans are secured two Las Vegas malls for which the company is ...

BCE’s Buyers Said to Propose Alternative to Takeover (Update1) - Bloomberg
Dec. 4 (Bloomberg) -- The private-equity firms that agreed to buy BCE Inc. for C$52 billion ($42 billion) may instead seek to acquire a minority stake in the Canadian phone company, according to two people with knowledge of the plan. The firms have ...

RI, Michigan lead the nation in unemployment - CNBC
PROVIDENCE, R.I. - Rhode Island and Michigan lead the nation in unemployment during the ongoing recession. Both states reported seasonably adjusted unemployment rates of 9.3 percent in October. Results released Tuesday by the U.S. Bureau of Labor ...

Mortgage deals with Beach company put owners out of homes - HamptonRoads.com
It was Delisa Mackey's dream home: a tidy two-story house with a two-car garage on a quiet Suffolk cul-de-sac with a patch of woods out back. It was built brand-new to her specifications in 2002, and her name was on the deed. No more renting for this ...

BCE’s Buyers Said to Propose Alternative to Leveraged Buyout - Bloomberg
Dec. 4 (Bloomberg) -- The private-equity firms that agreed to buy BCE Inc. for C$52 billion ($42 billion) may instead seek to acquire a minority stake in the Canadian phone company, according to two people with knowledge of the plan. The firms have ...

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Today's Mortgage Terms starting with S

  • Second Mortgage: An additional mortgage that has rights that are secondary to the first mortgage.
  • Seller’s Market: Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.
  • Settlement Costs: Money paid by the borrowers and sellers to complete the closing of a mortgage.
  • Settlement Cost (HUD Guide): HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.
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