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Financial News
FHA-Backed Loans: The New Subprime - BusinessWeek
(page 5 of 5) Clifford's name now appears along with a lengthy list of Premier's other creditors in the bankruptcy court in Tampa. Unable to make her $600 monthly mortgage payment, she received an eviction notice in June and says she is likely to ...

Conference puts focus on foreclosure amid calls for feds to refinance ... - Maryland Daily Record
In the last three months, the meltdown of Wall Street institutions and Congress’ $700 billion bank bailout package have knocked the subprime mortgage and foreclosure crisis off the front pages of newspapers nationwide. On Wednesday in Baltimore ...

The Next Subprime Crisis Looms - Der Spiegel
Joseph McCloskey, a former director of FHA's single-family asset management branch, says workers reviewing lender applications have had difficulty for years tracking whether executives of previously disciplined mortgage firms were applying for new ...

Once again, the subprime wolves are on the prowl - WTOL-TV
As if they haven't done enough damage. Thousands of subprime mortgage lenders and brokers -- many of them the very sorts of firms that helped create the current financial crisis -- are going strong. Their new strategy: taking advantage of a long ...

Losing it all: Subprime loan mess slamming doors on homebuyers in ... - Lynchburg News and Advance
You wouldn’t expect a $1 million home on Easy Street on Smith Mountain Lake to end up in the same situation as a $20,000 house from inner-city Lynchburg. One was built as a lakeside mini-mansion in 2006. It has 5,200 square feet, granite ...

A Kid from Car Country - Huffingtonpost.com
At 35,000 feet, northbound up the Mississippi River Valley, the roads below appear as footpaths running beyond the eye's reach. They are paved, of course, but many of them served as migratory trails that carried millions of southerners north of the ...

REAL ESTATE - News-Democrat
• 515 Wabash Ave.; from James Heuer and Jeffrey Heuer; to Robert M. Antoline and Jonny V. Antoline; $50,500. • 601 E. B St.; from Stephen H. George and Diane M. George; to Robert C. Prokopf and Heather L. Prokopf; $155,000. • 2206 Arnold Palmer ...

Reading service in need of home - Akron Beacon Journal
After years of financial setbacks and legal problems, the local reading service for the blind is facing what may be its biggest hurdle. The not-for-profit organization is poised to be evicted in the next few weeks from its home in a former roller ...

Don’t forget the stuffing (dressing) - Buffalo News
Depends on whom you ask. The answer cited most often by chefs, cookbook authors and other Thanksgiving enthusiasts is one of avian physiology: it all comes down to inside the bird versus outside. “A lot of people will say that ‘stuffing’ is ...

Wade has 19 pts; Heat beat Wizards 94-87 - Buffalo News
Dwyane Wade had 19 points, 10 assists and six rebounds Tuesday night, and the Miami Heat caught a couple of breaks in the final minutes to beat the struggling Washington Wizards 94-87. Wade, who played despite rolling his ankle in a loss at Toronto ...

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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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