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Bush signs off on commemorative civil rights coin - Boston GlobeWASHINGTON— President George W. Bush has signed legislation to mint a commemorative silver dollar marking the 50th anniversary of the Civil Rights Act. Sponsors of the measure include President-elect Barack Obama, and Rep. John Lewis, a veteran of ...
Foreclosure averted for girls who survived Norton shootings - Boston GlobeTwo teenage girls who were shot in the head and left for dead last year faced possible eviction from the house their family is renting, but the threat lifted this afternoon when an auction of the house was postponed. Danielle and Brittany Cann have ...
Hedge fund Greenwich sues Countrywide over mortgage accord - Los Angeles TimesCountrywide Financial Corp., the lender bought by Bank of America Corp., was sued by Greenwich Financial Services Fund over claims that an agreement to reduce payments on mortgages by $8.4 billion would hurt investors. The hedge fund said investors ...
Investor Sues to Block Mortgage Modifications - BusinessWeekBy Mara Der Hovanesian The battle over the mass modifications of troubled mortgages has begun in earnest. On Dec. 1, William Frey, a private investor in mortgage-backed securities, filed a lawsuit in New York State Supreme Court alleging that the ...
Murder victim’s kin spared foreclosure - EnterpriseTeenagers Danielle and Brittany Cann, who survived being shot in the head by their mother’s boyfriend in Norton 16 months ago, were spared the foreclosure of their family’s home at 574 Foundry St. this afternoon. Commonwealth Auction Associates ...
Countrywide Sued by Fund Over $8.4 Billion Loan Deal (Update2) - BloombergDec. 1 (Bloomberg) -- Countrywide Financial Corp. , the home lender acquired by Bank of America Corp. , was sued by Greenwich Financial Services Fund over claims an agreement to reduce payments on mortgages by $8.4 billion would hurt investors. The ...
Countrywide Sued by Fund Over $8.4 Billion Loan Deal - Daily Business Reviewountrywide Financial Corp., the home lender acquired by Bank of America Corp., was sued by Greenwich Financial Services Fund over claims an agreement to reduce payments on mortgages by $8.4 billion would hurt investors. The hedge fund claims ...
LETTER: Reassured by Barrows' position on gift card proposal - Norton MirrorI want to thank Rep. Jay Barrows for having the guts to say no to a constituent who contacts him to propose a bad idea. Dennis Naughton writes (letters, Norton Mirror, Nov. 21) of an e-mail he sent to Rep. Barrows proposing legislation that would ...
UPDATE: Investors Sue Countrywide Over Modification Plans - CNN MoneyNEW YORK -(Dow Jones)- Two investors in mortgage-backed securities sued Bank of America Corp.'s (BAC) Countrywide Financial Corp. on Monday over plans to make up to $8.4 billion in loan modifications as part of a settlement with 15 state attorneys ...
Class Action Demands Countrywide Repay Hedge Funds for Losses - Law.comA New York litigation boutique filed a class action suit Monday against Countrywide Financial Corp. on behalf of investors in 374 securitization trusts that suffered losses due to Countrywide's $8.4 billion settlement with 15 states' attorneys ...
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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