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News about Mortgages:
Kashkari: Treasury considering mortgage rate plan - Associated PressWASHINGTON (AP) -- The head of the government's financial system rescue effort said Thursday the Treasury Department is considering a program to encourage banks to make mortgage loans at low rates to help revive the battered housing market. Under the ...
Bernanke: more action needed to cut foreclosures - Chicago Sun-TimesWASHINGTON---- Federal Reserve Chairman Ben Bernanke called on the government Thursday to ramp up efforts to stem soaring home foreclosures, which are feeding into the country's deep economic troubles. Although a flurry of actions have been taken to ...
Kashkari: Treasury considering mortgage rate plan - Associated PressWASHINGTON (AP) -- The head of the government's financial system rescue effort said Thursday the Treasury Department is considering a program to encourage banks to make mortgage loans at low rates to help revive the battered housing market. Under the ...
Mortgage rates drop - Sun-JournalWASHINGTON (AP) -Rates on 30-year mortgages plunged this week to the lowest level since January after the government launched a sweeping new effort to aid the U.S. housing market. Mortgage finance giant Freddie Mac reported Thursday that average ...
Bernanke calls for more help to fix home mortgage crisis - Sacramento BeeWASHINGTON – Adding to a mounting chorus in the nation's capital that the Bush administration must do more to reverse the nationwide housing slump, Federal Reserve Chairman Ben Bernanke on Thursday spelled out several aggressive steps that ...
Mortgage plan shows increased gov't role - Associated PressWASHINGTON (AP) -- If you're looking for a mortgage, Uncle Sam may be the only game in town. The government has already increased its share of the mortgage market to around 90 percent from around 55 percent last year as Wall Street licks its wounds ...
Low mortgage rate idea has fans in region - Herald TribuneIf you remember the last time you could take out a fixed-rate mortgage at an interest rate of 4.5 percent, you are likely in your late 60s or older. It was April 1953. Yet that is exactly what the federal government might be inching toward as a ...
Are sweeping changes coming for mortgage finance? - Fort Worth Star-TelegramWASHINGTON - Adding to a mounting chorus in the nation's capital that the Bush administration must do more to reverse the nationwide housing slump, Federal Reserve Chairman Ben Bernanke on Thursday spelled out several aggressive steps that government ...
UK's Brown to press banks to cut interest rates - Washington PostLONDON -- British Prime Minister Gordon Brown said Friday he will be pressing bankers to pass on lower interest rates to consumers after the Bank of England moved to reduce its key lending rate to the lowest level since 1951. The Bank of England on ...
Government plans new credit, mortgage programs - Daily HeraldWASHINGTON -- The government introduced a pair of new programs Tuesday that will provide $800 billion to help unfreeze the market for consumer debt and to make mortgage loans cheaper and more available. The new programs from the Federal Reserve and ...

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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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