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News about Mortgages:
In foreclosures' wake, Cleveland officials battle rat infestations - Cleveland Plain Dealer BlogThe mortgage crisis and the vacant housing stock it creates appear to be humankind's latest unwitting gift to rats. Willie Bess, Cleveland's commissioner for environmental health, said he has seen a huge increase in the past year of people walking ...
School for the blind starts visionary newsroom - Newark Star-LedgerEd Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...
One rule for Lloyds, one for everyone else, signals Darling - Scotsman.comALISTAIR Darling yesterday effectively slammed the door on a rival bid to keep HBOS an independent bank, when he set tough conditions on any alternative rescue deal. The Chancellor made it clear that the Treasury would not match its offer to buy ...
Register for FREE - Wall Street JournalIs there any doubt the federal government will end up funding a huge Motor City bailout? There shouldn’t be. General Motors is reportedly asking for $10 billion in taxpayer money to grease a merger with Chrysler. That is on top of $25 billion in ...
2008 (2665) - Dakota Voice► January 16 - January 23 (1) Brian has a good point here. When I was in the Air Force, I recall one night when a new guy, fresh out of training, came to work on our shift. In military police work, you rely on your "radio" or "portable" quite a bit ...
Blues will “bail out” a few homeowners - St. Louis Post-DispatchWhile the real Fannie Mae and Freddie Mac are working on a program to cut beleaguered homeowners’ mortgage bills, the St. Louis Blues have invoked the firms’ names in announcing a “bailout” promotion of their own. As part of a “Fan ...
Drama on the mound: the final 24 hours of a Scots institution - HeraldIt was the day that saw the beginning of the end for Scotland's oldest bank. Perched high on The Mound in Edinburgh, the HBOS global headquarters, a building synonymous with financial stability, was the centre of feverish market speculation. Founded ...
Obama Calls McCain Mortgage Plan ‘Risky’ - New York Times BlogsDAYTON – Returning to some of his tough, pre-debate language, Barack Obama this afternoon condemned John McCain’s plan for the government to buy bad home mortgages as “McCain’s bailout” for risk-taking banks and lenders, and described his ...
Indigestion looms as HBOS is devoured - Daily TelegraphHBOS's former chief executive, Sir James Crosby, was fond of saying the plucky number five in the banking market "ate the lunch" of its larger rivals by offering customers better deals. Now one of those rivals, Lloyds TSB, has snapped up HBOS for ...
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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