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News about Mortgages:
NEWS BRIEFS - Columbus DispatchBENTONVILLE, Ark. Wal-Mart chief executive to retire unexpectedly Wal-Mart Stores Inc. unexpectedly announced yesterday that its chief executive will retire in February and be replaced by the leader of its international division. The retailer, based ...
Home Prices Slide Amid Weak Sales - Morning NewsSPRINGDALE -- Following declining home sales in Northwest Arkansas, regional prices dipped an average of 8 percent in October when compared with 2007, according to Mountdata.com , a real estate marketing company owned by Paul Bynum in Benton County ...
Business events and economic reports scheduled - ForbesSATURDAY, Nov. 8 SAO PAULO, Brazil - Brazil hosts G20 meeting for finance ministers and central bank presidents. MONDAY, Nov. 10 WASHINGTON - Weekly Treasury briefing, auction; President Bush meets with President-elect Obama. NEW YORK - American ...
Business briefs - Herald TribuneThe average rate for a conventional 30-year fixed mortgage on a owner-occupied, single-family home with 20 percent down on Monday afternoon was 6.375, down slightly from Friday's rate of 6.5 percent, Sarasota's Sentinel Mortgage reported. The final ...
Bank Failures in 2008 - CNBCSince the beginning of the credit crunch in August 2007, a total of 17 banks have closed their doors, according to the Federal Deposit Insurance Corporation. This year alone, 15 banks have gone under. Take a look at the failures of 2008 (in ...
Next Up: A Wal-Mart Credit Card? - BusinessWeekIs Wal-Mart Stores ( WMT ) going to bring its price-chopping ways to the credit-card industry? BusinessWeek has learned that the retail behemoth has held talks with Herbert and Marion Sandler, founders of Golden West Financial Group, about a new ...
U.S. Economy: Sentiment Drops by Record; Starts Fall (Update1) - BloombergOct. 17 (Bloomberg) -- Confidence among Americans fell by the most on record and single-family housing starts hit a 26-year low, posing an increasing threat to consumer spending that accounts for more than two-thirds of the economy. The Reuters ...
J.C. Penney, Nordstrom Lower Forecasts as Sales Fall (Update2) - BloombergOct. 8 (Bloomberg) -- J.C. Penney Co. , Kohl's Corp. and Nordstrom Inc. forecast third-quarter profit that may trail analysts' estimates after September sales fell because of consumer concerns that the Wall Street meltdown will cost them their jobs ...
Local Foreclosures Escalate - Morning NewsSPRINGDALE -- One in 475 households in the United States was facing foreclosure in September. In Arkansas, the foreclosure rates are significantly better, but locally the numbers are worse, according to a Wednesday report by Irvine, Ca.-based ...
Wal-Mart cutting some toy prices for holidays - Buffalo NewsNEW YORK — Wal-Mart Stores said it will cut prices on some of the most popular toys and speed up the opening of Christmas shops in its stores nationwide as it tries to lure budget-conscious shoppers and jump start its biggest selling season,. Ten ...
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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