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News about Mortgages:
Obama, McCain Back Treasury Action to Rescue Freddie, Fannie - BloombergSept. 6 (Bloomberg) -- Presidential candidates Barack Obama and John McCain gave their support for federal action to rescue Freddie Mac and Fannie Mae while saying steps must be taken to ensure the mortgage giants don't keep passing losses off to ...
Construction jobs hard to come by this summer - Bellingham HeraldStill reeling from the subprime mortgage mess and the economic downturn it spawned, the troubled construction industry got another jolt of bad news recently when the production of single-family homes hit its lowest annual rate since 1991 ...
FACTBOX-McCain, Obama react to Fannie and Freddie woes - Forbes(Reuters) - U.S. presidential candidates John McCain and Barack Obama reacted cautiously Saturday to reports that mortgage finance companies Fannie Mae and Freddie Mac were set to to be placed under federal control. The Treasury Department plan would ...
House price 'rip-offs' probed by watchdog - IndependentShare MORTGAGE brokers are being investigated over allegations that some of them colluded with estate agents to inflate property prices and rip off homebuyers. In an unprecedented move, the Financial Regulator is checking claims that brokers have ...
As another bank folds, the FDIC gets lower on money - Bloggingstocks.comThat fact that John McCain's son served on the board of the Silver State Bank until recently should not matter much to customers. The bank is gone. According to The Wall Street Journal , "The lender, the 11th bank to fail in the U.S. this year, was ...
Fannie, Freddie's boards meet Saturday to mull government plan - International Herald TribuneWASHINGTON : The boards of mortgage finance companies Fannie Mae and Freddie Mac were set to meet on Saturday to discuss a government plan to place the companies under federal control, sources said. The U.S. Treasury Department plan to put the two ...
REFILE-Fannie, Freddie boards meet to mull government plan - ForbesWASHINGTON (Reuters) - The boards of mortgage finance companies Fannie Mae (nyse: FNM - news - people ) and Freddie Mac (nyse: FRE - news - people ) were set to meet Saturday to discuss a government plan to place the companies under federal control ...
Fannie, Freddie boards meet to discuss bailout - Globe and MailWASHINGTON — The boards of mortgage finance companies Fannie Mae and Freddie Mac were set to meet Saturday to discuss a government plan to place the companies under federal control, sources said. The U.S. Treasury Department plan to put the two ...
Corporate Crime - Morning CallA former bank employee facing embezzlement and money laundering charges has pleaded guilty. Sara Vriesen, 54, admitted to using her son and daughter's bank accounts to funnel money into her own at Farmers Trust Savings Bank in Buffalo Center. Vriesen ...
Buyers grab apartments as new loans lure pays off - IndependentDRASTIC measures taken by two prominent developers to revive the property market succeeded yesterday in attracting some buyers, showing there is some life left in the Irish housing market. McNamara's Elm Park development, which is offering 30 per ...

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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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