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News about Mortgages:
Mortgage rates drop sharply - WABCWASHINGTON -- Rates on 30-year mortgages plunged this week to the lowest level since January after the government launched a sweeping new effort to aid the U.S. housing market. Mortgage finance giant Freddie Mac reported Thursday that average rates ...
People in business - Memphis Commercial AppealJohn Ueleke , president and chief executive officer of Legacy Wealth Management, has been recognized as a top financial adviser in both Medical Economics and Worth magazines. Linda McDowell and Vanessa Bintz , both formerly with First Tennessee Home ...
Caught in the trap - ArabianBusiness.comNegative equity is a very real concern for thousands of homeowners as they watch property prices fall while mortgage rates rise. With repossessions looming large on the horizon, Alex Delmar-Morgan reports on what the banks need to do to arrest the ...
U.S. to Speed Investment From China Banks, State Fund (Update2) - BloombergDec. 5 (Bloomberg) -- The U.S. agreed to speed up approvals for Chinese financial institutions seeking to invest in the country, as Treasury Secretary Henry Paulson tries to find ways to unlock frozen credit markets and stabilize banks. The ...
Morgan Joseph Adds Two New Members to Its Fixed Income Structured ... - PR InsideMorgan Joseph & Co. Inc., a full-service investment bank, has expanded the firm"s analytics and trading group that operate in the secondary market for fixed income structured products with the addition of two new members to the team, it was announced ...
Mortgage Rates Fall as U.S. Expands Rescue - Wall Street JournalU.S. officials pledged to pump another $800 billion into ailing credit markets, much of it directly from the Federal Reserve -- a move that makes the nation's central bank a lender to almost every corner of American life. The Fed, whose traditional ...
Home builders' shares soar as mortgage rates plunge - Guardian UnlimitedNEW YORK, Dec 4 (Reuters) - Shares of U.S. home builders rose on Thursday as the beleaguered sector, floundering amid a protracted downturn, extended a six-day rally spurred by the largest drop in interest rates on 30-year fixed-rate mortgages in 27 ...
Bank of America eyes Merrill Lynch acquisition - Charleston Post & CourierCHARLOTTE — When shareholders vote on Bank of America Corp.'s acquisition of Merrill Lynch & Co. today, they are expected to transform the bank into a business befitting its name and change the face of Wall Street. The shotgun deal, valued at $50 ...
How To Cope With The Flood Of Foreclosures? - ForbesDespite soaring foreclosure rates, President Bush and other Republicans have not made this a top priority, and Treasury Secretary Henry Paulson has refused to draw on the $700 billion rescue fund to help homeowners, saying that saving financial ...
JPMorgan cutting 9,200 jobs at Washington Mutual - PR InsideNEW YORK (AP) - JPMorgan Chase & Co. said Monday it will cut a total of 9,200 jobs at Washington Mutual, which it acquired Sept. 25 after Washington Mutual became the largest U.S. bank to fail amid the ongoing credit crisis. Of the 9,200 jobs being ...

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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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