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High water usage might be tied to October landslide, city says - Portland TribuneThe remains of a Southwest Burlingame Place house rest against another house near Terwilliger Boulevard. Homeowners and their insurance companies are still trying to determine the cause of the Oct. 8 landslide. High water usage could be a culprit ...
Community banks on shaky ground - Portland TribuneCertified as a community development bank, Albina Community Bank has access to special federal funds that target low-income communities enabling it to make loans for projects such as the Mississippi Avenue Lofts in North Portland. Albina CEO Bob ...
How Wachovia came crashing down - HamptonRoads.comTwo years ago, Wachovia bought Golden West Financial in California as part of an aggressive strategy to build a nationwide bank. Along with the newly acquired Golden West Financial came a hefty portfolio of home loans, including mortgages that ...
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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