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Financial News
FBI saw threat of mortgage crisis - Los Angeles Times
WASHINGTON -- Long before the mortgage crisis began rocking Main Street and Wall Street, a top FBI official made a chilling, if little-noticed, prediction: The booming mortgage business, fueled by low interest rates and soaring home values, was ...

2 million troubled borrowers avoid foreclosure - CNN Money
NEW YORK (CNNMoney.com) -- Hope Now has helped more than 2 million at-risk borrowers stay in their homes during the past 13 months, according to numbers released by the coalition on Wednesday. The alliance of mortgage servicers, counselors, and ...

Worst house prices fall for 18 years - This is Money
The property market faces a full-scale collapse with house prices tumbling by more than 10% a year for the first time since 1990. The average price has fallen by 10.5% over the past 12 months, wiping about £30,000 off the value of a typical London ...

The US Housing Bill 2008: Part VIII - Scoop
Where is all the missing money and how do we get it back? How big is the missing collateral black hole and how will it be resolved? These two mysteries are essentially part of one mystery at the heart of the matter: Who is in charge of—and what are ...

Up Next - CBS News
THE KILLINGS IN HADITHA - Staff Sgt. Frank Wuterich speaks publicly for the first time about the killing of 24 Iraqi civilians in Haditha, Iraq, resulting in murder charges against him and three other soldiers. Scott Pelley reports. Shawn Efran and ...

Central bank faulted for low pay, irrelevant studies - Globe and Mail
G Montcler from Canada writes: Thank heavens for the Central Banks of the US, UK and EU. Anyone following the sayings of the Bank of Canada is courting disaster. If this were the private sector, heads would roll but this is Ottawa on the Rideau so ...

The Social - CNET News
Imagine seeing an ad on Facebook for a retailer like American Apparel or Target, and clicking a button to pass a 15-percent-off discount code to someone on your friends list. For advertisers looking to tap into the power of social networks, it sounds ...

The Thin Man - Weekly Standard
"The transformation of Joe Biden is one of the best story lines at this convention. A week ago, people would sprint from the room when Joe entered for fear he would start a sentence that might not end until Halloween. Now, suddenly, he is a towering ...

Texts being customized; reactions are mixed - Knoxville News Sentinel
Rebecca Johnson, a pre-veterinary sophomore from Houston, Texas, left, and Izabela VanDeest, an accounting junior from Poland, use a laptop to check the books they need at the UT Book & Supply Store. The customized texts in front of them are ...

Corporate Crime - Orlando Sentinel
Trustees of the village of Niles will meet Tuesday to pick a successor to former Mayor Nicholas Blase, who has retired from the post he has held for 47 years. The 80-year-old Blase retired Monday, only days before the scheduled start of his trial on ...

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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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