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News about Mortgages:
Scottish former bankers drop HBOS campaign - International Herald TribuneLONDON : George Mathewson and Peter Burt, the Scottish former bankers who tried to thwart Lloyds TSB's takeover of HBOS , dropped their campaign blaming tighter government funding terms for banks. "The government's statement has raised several ...
Lender hand - The SunMajor banks and mortgage lenders have agreed to cut customers some slack as Britain plunges into recession. Chancellor Alistair Darling is expected to announce the breakthrough in his pre-Budget report on Monday. Anyone who misses a mortgage ...
Pre-Budget report: Brown to unveil VAT cut - This is MoneyDowning Street is billing tomorrow's Pre-Budget Report as the most important day in politics since Labour was elected more than a decade ago. There have been heated behind-the-scenes rows between Mr Brown and Alistair Darling as the Prime Minister ...
VAT Cut Could Be On The Cards - AnanovaVAT could be slashed for a year in an attempt to get the economy back on track, it has emerged. There is growing speculation that Chancellor Alistair Darling will make the announcement tomorrow in his Pre-Budget Report (PBR), Sky News political ...
Struggling homeowners given more time to pay - Evening StandardHOMEOWNERS who fail to meet their mortgage payments are set to avoid repossession action for at least three months. Banks are said to have agreed not to seek to seize people's homes if they fall only slightly behind in their payments. Lenders have ...
Number of landlords falling behind on mortgage repayments soars by 50 ... - Daily MailSoaring numbers of buy-to-let investors have not paid a penny of their mortgage and face losing their property, official figures revealed today. The worst economic meltdown since the First World War has triggered a nightmare for the army of people ...
The Chancellor's Midterm Exam - Nymag.comWeingarten expects Bloomberg to quickly signal his take on the report. When two weeks pass without public comment, she grows increasingly agitated. At the UFT, rumors fly that Klein is again thwarting a deal. Weingarten knows that after Election Day ...
Britain to cut Value Added Tax by 2.5% - ninemsnMillions of British consumers and businesses are expected to benefit from plans to slash Value Added Tax (VAT) in an attempt to lead the nation out of the financial doldrums. Chancellor Alistair Darling is believed to be preparing to announce a ...
Hope and concern in run up to Pre-Budget Report - Politics.co.ukEconomists, politicians and pressure groups are expressing a mixture of hope, concern and demands ahead of tomorrow's Pre-Budget Report. Sue Bonney, head of tax, KPMG Europe : "Without the tax cuts and substantial public borrowing that the prime ...
Mortgage lenders still not fully passing on rate cuts - Belfast TelegraphBritain's mortgage lenders are continuing to raise their interest rates for new customers and neglecting to pass on the falls in market lending rates, which have been easing for several weeks. The Bank of England slashed its main interest rate by a ...
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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