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News about Mortgages:
Brown defends mortgage break scheme - Crewe GuardianPrime Minister Gordon Brown said the Government's plan to give struggling homeowners a two-year mortgage payment holiday would make people "feel more secure in the downturn". He said his Government wanted to "do everything we can to reassure people ...
Bank cuts interest rates by 1% - Crewe GuardianInterest rates stand at their lowest level since 1951 after the Bank of England took more drastic action to prop up the UK economy. In the wake of last month's shock 1.5% reduction, the Bank cut another 1% from its base rate. It warned that with ...
Mortgage lending down again - Crewe GuardianMortgage lending fell again during October after the market saw a slight rebound in September, figures showed. Net mortgage lending, which strips out redemptions and repayments, was £2.9 billion during the month, down from £3.5 billion in September ...
12% increase in home repossessions - Crewe GuardianMore than 11,000 homes were repossessed during the third quarter of the year, 12% higher than in the second quarter, new figures show. The Council of Mortgage Lenders' data showed 11,300 homes were repossessed in the third quarter of the year ...
Rocketing numbers face home eviction - This is SentinelTHE number of families facing eviction in North Staffordshire and South Cheshire has risen as the credit crunch continues to hit home. Debt advisers are struggling to cope as they are deluged with thousands of families attempting to pay their bills ...
The class war is over - do tell Labour - Daily TelegraphThere could hardly have been two more contrasting spectacles this week. On Monday, the Royal Opera House opened its 2008-09 season with Don Giovanni. But this was a very different performance from the usual Royal Opera fare. I look up to him and he ...
How the Conservatives lose the next election - Daily Telegraph Blogs1. Alistair Darling announces US-style fiscal stimulus package offering tax cuts to millions in pre-budget report branded "emergency budget". Winter fuel allowance for pensioners increased immediately, range of tax increases immediately halted. All ...
Labour’s victory bails out Brown - Evening StandardThe Glenrothes by-election was fought in the large shadow of the US presidential election but the outcome, a victory for Labour, has significantly strengthened the Prime Minister's standing — in his own party if not in the country. Labour's ...
Gordon's secret weapon Sarah to the rescue as she helps swing ... - Daily MailSarah Brown was hailed as the Prime Minister's secret weapon yesterday after Labour pulled off a decisive by-election win in Glenrothes. A buoyant Gordon Brown welcomed the result as a 'vote of confidence' in his leadership and his handling of the ...
Where am I? - Times OnlineThe Information Commissioner’s Office has gone even further today, however, demanding new powers to prosecute organisations that lose personal details and the ability to raid the premises of organisations suspected to have broken data laws. Mr ...
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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