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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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Richmond mortgage loans news:
Financial News
Mechanics Bank touts strength as it accepts Treasury investment - East Bay Business Times
Mechanics Bank said late Tuesday that it will take $60 million through the Treasury’s direct-investment program in which the government takes stakes in the nation’s healthy banks. “Our approval for participation is a confirmation of our ...

Housing problem expands in state - Lynchburg News and Advance
The number of foreclosures in Virginia more than doubled during the first 11 months of 2008, compared with all of 2007. Data analyzed by the Richmond Times-Dispatch show 27,938 foreclosures statewide in the 2008 period for all property types ...

Nationwide freezes rate cut on trackers - This is Dorset
MORE than 200,000 borrowers with tracker mortgages from Nationwide, which has its administration centre on Richmond Hill, Bournemouth, will not receive further cuts if the base rate continues to slide. In a bid to retain profits as the economic ...

Rescue me!: Foreclosures sweep through housing markets - TradingMarkets.com
There are some last-minute things you can do to save your home, said Nicole Caldwell, the vice president of professional services at Consumer Credit Counseling Service. "It's never too early to get help. Don't be afraid of talking to the mortgage ...

OTCPicks.com Stocks to Watch for Monday, January 5th AANB - Transworld News
OTCPicks.com’s Daily Small Cap and Microcap Newsletter presents a range of the hottest small cap stocks on trading on the OTC and OTCBB markets. In addition to our Newsletters, OTCPicks.com is quickly becoming the premier community destination for ...

U.S. Federal Reserve Meeting Minutes for December 16 (Text) - Bloomberg
Jan. 6 (Bloomberg) -- Following are the minutes of the Federal Reserve’s Open Market Committee meeting that concluded on December 16. A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal ...

Fed Sailing Into Treacherous Waters in 2009 - HispanicBusiness.com
The uncharted waters into which the Federal Reserve sailed in 2008 could become even more treacherous in the year ahead. Will the unprecedented measures that the Fed, the Treasury, the Federal Deposit Insurance Corporation and other authorities took ...

Moret: Louisiana Had Record Year For Economic Development - Bayou Buzz
The Year of 2008 was marked by political change, turmoil and hurricanes affecting much of Louisiana . However, according to Stephen Moret, the Secretary of Economic Development, 2008 produced a record year for Economic Development. Recently, the ...

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