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State colleges get an 'F' for affordability - Hattiesburg American
Mississippi gets an F in making college affordable. The National Center for Public Policy and Higher Education this week released its biennial report card on how well states provide Americans with education and training beyond high school. Higher ...

Mortgage 'workout' programs: - Charleston Gazette
CHARLESTON, W.Va. - As more than 11 million mortgages approach foreclosure nationwide, a parade of lenders - including Chase, Bank of America and Citicorp - are pledging to alter hundreds of thousands of mortgages to keep people in their homes ...

WaMu to cut 500 jobs from Florence mortgage center - Charleston Post & Courier
FLORENCE — More than 500 workers at Washington Mutual's mortgage processing office in Florence will lose their jobs as the company is taken over by JPMorgan Chase & Co. JPMorgan Chase spokeswoman Nancy Norris told WBTW-TV that the jobs will be ...

JP Morgan Chase cuts 500 jobs - Charleston Regional Business Journal
JP Morgan Chase & Co. is cutting almost 500 jobs from the Washington Mutual mortgage processing operation in Florence. The job cuts are among the 9,200 positions JP Morgan plans to eliminate as part of its takeover of Washington Mutual Bank. JP ...

Mortgage activity doubled last week - Charleston Post & Courier
WASHINGTON — Mortgage application volume more than doubled during the shortened Thanksgiving week, according to the Mortgage Bankers Association's weekly survey. The activity in a holiday-shortened week came as average rates on some fixed-rate ...

Avoiding foreclosure - Charleston Gazette
CHARLESTON, W.Va. - In 2007, a few months after Jeff Light was laid off from his longtime job, he and his wife realized they couldn't make the mortgage payment on their Huntington home. "We've got kids, and this is the only home they've really known ...

Public Notices - Columbia Star
NOTICE OF APPLICATION Notice is hereby given that Shanon Davis dba Big Country's Bar-b-que & Convenience intends to apply to the South Carolina Department of Revenue for a license/permit that will allow the sale ON/OFF premises consumption of Beer ...

Mortgage Q&A: Promise amid challenges - The Washington Times
In past years, I have often taken today's column to reflect on the economic environment in America and discuss what aspects and events deserve our thanks. I have to admit that this year's column is a bit harder to write. Let's summarize what's facing ...

United Bankshares receives OK for gov't funds - BusinessWeek
CHARLESTON, W.Va. United Bankshares Inc. said Wednesday it received preliminary approval to receive up to $197.3 million as part of the government's bank investment program. The government investment, administered by the U.S. Treasury Department, is ...

Long-time business shutting - Daily Corinthian
BOONEVILLE -- A going-out-of-business sale is under way at Goddard's Jewelry, a business considered a local tradition in downtown Booneville. Owners James and Donnie Goddard have made the decision to retire after giving it serious consideration for ...

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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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