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News about Mortgages:
Money Meltdown Came After Banks Fought Off Regulation, Government ... - The LedgerWASHINGTON | The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient ...
Mortgage Rates Dropping - Denver ChannelDENVER -- Mortgage rates dropped to the lowest level in several months after the housing market heard what it had been waiting for: Uncle Sam would buy up the mortgage-based securities that many believe have choked off America's credit system. "The ...
Bernanke: Lower Interest Rates Are 'Feasible' - News 4WASHINGTON (AP) ― Federal Reserve Chairman Ben Bernanke said Monday that further interest-rate cuts are "certainly feasible," but he warned there are limits to how much such action would revive an economy likely to stay weak well into next year ...
Stocks Drop 679 Points On Recession News - News 4NEW YORK (AP) ― Confirmation that the nation is in a recession and signs pointing to a prolonged downturn sent Wall Street plunging once again Monday, hurtling the Dow Jones industrials down more than 679 points and erasing a huge chunk of last ...
Renting houses not as easy as it sounds - Rocky Mountain NewsWhew (kicking and screaming at my computer) I finally obtained the rest of today’s Randy Brown opinion for solving the home-mortgage crisis. I was a Denver landlord for 33 years. I recently quit that because obtainable rents would not cover my ...
Malls, hotels next victims in new mortgage crisis - Yahoo NewsAP – A foreclosure sign stands on top of a sale sign outside an existing home for sale in the west Denver … WASHINGTON – The full scope of the housing meltdown isn't clear and already there are ominous signs of a new crisis — one that could ...
British lending growth slowed in October - Denver PostLONDON—Britons took out fewer mortgages and reined in spending in October as the economic downturn intensified, the Bank of England said Monday. Net lending to individuals grew by 1.3 billion pounds ($2 billion) in October—just a third of the ...
Stocks fall sharply on consumer spending worries - Denver PostNEW YORK—Investors uneasy about the holiday shopping season gave Monday back some of Wall Street's recent gains, sending the Dow Jones industrial average down more than 400 points. While initial reports about the start of holiday shopping this ...
Underwater mortgages a maze of headaches for homeowners - Indiana GazetteDavid Craig knows how draining it can be to make payments on a home that is worth less than the mortgage debt on it. The Colorado resident and his wife have struggled the past two years to carry not one but two homes valued at less than what's owed ...
AP: Bank Lobbyists Had Big Role In Fallout - Denver ChannelWASHINGTON -- An Associated Press review of regulatory documents finds that the George W. Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed. The review shows the government ...
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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