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News about Mortgages:
Economic stimulus plan tied to energy savings - International Herald TribuneWASHINGTON : President-elect Barack Obama and leaders in Congress are fashioning a plan to pour billions of dollars into a jobs program to jolt the economy and lay the groundwork for a more energy-efficient one. The details and cost of the so-called ...
Don't use credit card to pay mortgage - Sauk Valley Daily GazetteDEAR DEBT ADVISER: I have a mortgage of $213,000 on a home valued at $276,000. My credit score is 713. I'm wondering if I would be better off to max out all my credit cards - the combined limit total is approximately $70,000 - and pay down my ...
Many to blame for economic crisis - Daily Local NewsRichard D. Merion in his letter, "Who can we trust?" (DLN, Dec. 1) fails to examine the root causes of the economic meltdown. They are much more than a 1999 expansion of "mortgage loans among low- and moderate-income people." That is simply political ...
Mortgage 'workout' programs: - Charleston GazetteCHARLESTON, 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 ...
Ask AP: Bottom-up bailouts, gas pump tampering - Philadelphia InquirerIf troubled automakers and banks need government bailouts, why not give their customers federally financed vouchers to help cover car and mortgage payments , so both consumers and companies could benefit from the money? Curiosity about bottom-up ...
Irish Life Passes ECB Cut, Can't Guarantee Passing On More - Wall Street JournalDUBLIN (Dow Jones)--Irish Life & Permanent PLC (IPM.DB) said Friday it will pass on the European Central Bank's 75-basis-point rate cut to variable and tracker rate mortgage customers from Jan. 2, but warned it can't guarantee passing on more rate ...
Avoiding foreclosure - Charleston GazetteCHARLESTON, 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 ...
A case study in housing collapse - St. Petersburg TimesTAMPA — Thousands of miles from the trading floors of global stock markets, an abandoned house in one of Tampa's poorest neighborhoods is an improbable place to learn about why the world's financial system is collapsing. But if you want to ...
State to testify on fingerprints - Akron Beacon JournalA state criminal identification expert is expected to testify Monday, when the trial of former Evergreen Corp. President David B. Willan resumes. Willan is accused of bilking investors, homeowners and lenders of millions in mortgage deals. The ...
Editorial: Keeping tenants in mind - Independent News OnlineHERE'S A TWIST. Everybody knows about the mortgage crisis, with all the home loans made to unqualified buyers. But what would the government do if somebody asked to repay a federal mortgage... ahead of schedule? In the one case we know of, the ...
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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