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Horrible stock year ends - Wisconsin State JournalThere were probably more than a few investors and money managers who sent up a cheer, and a sigh or relief, when the clock struck midnight on New Year's Eve. Finally, the stock market nightmare of 2008 was over. Or, at least 2008 was over. "I've been ...
Economy Goes Cold - Leesburg TodayDuring the second half of 2007, the effects of a cooling real estate market were being felt in other areas of the county's economy and the national economy was entering recession. As 2008 opened, there was hope that Loudoun's super-heated housing ...
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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