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News about Mortgages:
Government may soon back troubled mortgage giants - ForbesThe government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's ...
Paulson to Take Over and Restructure Fannie, Freddie (Update4) - BloombergSept. 6 (Bloomberg) -- Treasury Secretary Henry Paulson will use his authority to rescue Fannie Mae and Freddie Mac , likely placing the beleaguered mortgage-finance companies under government control as early as this weekend. The Treasury plans to ...
Gov't may back top troubled mortgage companies - International Herald TribuneWASHINGTON : Fannie Mae and Freddie Mac are expected to be taken over by the government as soon as this weekend in a bold move designed to protect the mortgage market from the risk the companies could fail, a person briefed on the matter said Friday ...
Jefferson Bancshares moves to acquire State of Franklin - TradingMarkets.comThe cash and stock transaction is valued at $10.9 million, according to a press release issued after the stock markets closed Thursday. The merger is expected to be completed in the third quarter or early fourth quarter. Following the merger ...
Gov't may take over top troubled mortgage companies - Pittsburgh Post-GazetteFannie Mae, headquarters shown here, and Freddie Mac, the nation's largest buyers and backers of mortgages, lost a combined $3.1 billion between April and June. WASHINGTON -- Fannie Mae and Freddie Mac are expected to be taken over by the government ...
Global Diversified Investment Grade Income Trust II - Recent ... - CNW GroupMONTREAL, Sept. 5 /CNW Telbec/ - Global Diversified Investment Grade Income Trust II ("Global DIGIT II") (TSX: GII.UN) announces that, further to recent announcements by Standard and Poor's Rating Services ("Standard & Poor's"), there has been a ...
Baltimore Has Poe; Philadelphia Wants Him - Herald TribuneBALTIMORE — Edgar Allan Poe never lived in one city for long, and ever since he died and was buried here in 1849 this city has claimed him as its own. Jessica Kourkounis for The New York Times Edgar Allan Poe, master of the macabre and a man of ...
Jailed CA Ex-Chief Kumar Points at Others - CFO.comFormer CA chairman Sanjay Kumar, from the prison cell where he is serving a 12-year term for his role in a massive accounting fraud scandal, pointed the finger at one-time boss and friend Charles Wang. Kumar alleged that Wang, cofounder of the ...
National News from AP: Headlines - Ledger IndependentWASHINGTON - The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the ...
McCain: Change is coming - CNN(CNN) -- Sen. John McCain is speaking to the Republican National Convention on Thursday night. Here is the partial text of that speech, as prepared for delivery: Sen. John McCain says the "do nothing" Washington crowd is in for a change. McCain ...

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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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