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News about Mortgages:
Oregon foreclosures skyrocket - Birmingham Business JournalOregon foreclosure rates more than doubled in October, driven up by rising unemployment, a souring economy and the continuing plague of volatility in mortgage interest rates. RealtyTrac, a California mortgage data tracking service, recorded 2,841 ...
Claim Denied In Portland House Slide - kptv.comPORTLAND, Ore. -- An insurance company denied the claim of a family whose home was damaged when another house slid off its foundations and down a hillside, hitting its home in October. Youn and Siukee Chou just found out that Farmer's Insurance will ...
Fed: Recession to last into mid-2009 - Portland Business JournalFed: Recession to last into mid-2009 Ratajczak: ‘Of course it’s a recession’ Local debt rises on credit cards, mortgage payments Banks ante up to draw more deposits through CDs The Federal Reserve Bank expects the U.S. economy to be in ...
Portland's Cascade College shutting down due to economy - kgw.comFor 15 years, Cascade College in Portland struggled to find the fuels that any college needs: students to pay tuition, and donors to help build an endowment. Then came the global economic meltdown, and suddenly that struggle became an impossibility ...
Oden helps Blazers rout Bulls - Buffalo NewsGreg Oden had 11 points, 10 rebounds and three blocks in his home debut for Portland and the Trail Blazers built a 30-point, first-half lead in a 116-74 victory over the Chicago Bulls on Wednesday night. Oden, sidelined all of last season by a knee ...
Mortgage Meltdown Puts Renters At Risk, Too - kptv.comLEBANON, Ore. -- Renting a home may seem like the best way to avoid the national mortgage meltdown, but a number of area renters are learning they shouldn't get too comfortable. Tim and Erica Hill said they're very much at home in their rental house ...
Oden scores 22, but Warriors hold off Blazers - Buffalo NewsStephen Jackson scored 10 of his 20 points in the fourth quarter and the Golden State Warriors overcame Greg Oden's 22 points and 10 rebounds in a 111-106 victory over the Portland Trail Blazers on Tuesday night. Anthony Morrow followed up his 37 ...
Driver sent to prison for DUI crash that injured bicyclist - kgw.comPORTLAND -- The man who slammed into a cyclist with his car while trying to steal beer from a grocery store in Northeast Portland is going to prison. Jeremy Jordan was sentenced Friday to five years and eight months in prison. In addition, he will ...
Child care centers feel pinch - Maine Sunday TelegramTeachers Sarah Cayer and Eric Feeney, left, work with some of the children during snack time at Portside Learning Center in Portland, where parents trying to save money have asked to scale back their child care hours. Gordon Chibroski/Staff ...
Heating resource guide created - Bangor Daily NewsPORTLAND, MAINE — Maine Equal Justice Partners has created a resource guide to help those who need assistance with their winter utility and fuel bills. The guide identifies 12 programs that help with housing and utility costs. It also lists ...
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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