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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Gordon mortgage rates news:

Rush is on to get rescue plan moving - Seattle Post Intelligencer
WASHINGTON -- With the world's financial markets on a stomach-churning ride, the Bush administration is scrambling to get a $700 billion rescue effort for the U.S. banking system up and running. And Europe's central banks began to take unified ...

Foreclosure S.O.S. - Newsday
After she was laid off two years ago, Rosemarie Cino tried talking to her mortgage lender when she fell $8,000 behind on her mortgage despite her jobs walking dogs, cleaning swimming pools and driving for Federal Express. "They didn't even want to ...

Europe's leaders follow Brown plan to head off financial meltdown - Times Online
France and Germany agreed a British-style plan last night to head off financial meltdown by spending billions of euros to guarantee loans and the survival of leading banks. After a briefing from Gordon Brown in the Élysée Palace, President Sark ...

Financial crisis: Jargon buster - Daily Telegraph
There is no accepted definition of what constitutes a crash. But it is usually when share prices fall by 10 per cent or more over a period of a few days. The most famous crash was the Wall Street crash of October 1929, which in fact lasted for three ...

Pound Declines Against Dollar; BOE May Reduce Rates This Week - Bloomberg
Oct. 6 (Bloomberg) -- The pound fell against the dollar amid speculation the Bank of England will cut interest rates this week to bolster an economy that may be in a recession. The British currency also rose to the highest level in seven months ...

End to fatcat bonuses in £37bn bailout - Metro.co.uk
Fatcat bonuses for bosses of struggling banks will be wiped this year as £37bn taxpayers' money was injected into RBS, HBOS and Lloyds TSB. In an unprecedented move Gordon Brown injected £37 billion into the Royal Bank of Scotland, HBOS and Lloyds ...

Global Stocks Climb, Euro Rises on Bailout Plan; Banks Advance - Bloomberg
Oct. 13 (Bloomberg) -- Stocks rallied worldwide, with the MSCI World Index rebounding from its worst week on record, after governments in Europe, the U.S. and Asia agreed to support banks and combat the credit crisis. Credit Suisse Group AG ...

Europe leaders agree on bank rescue plan - Los Angeles Times
PARIS -- European leaders agreed Sunday on a coordinated rescue plan to guarantee inter-bank lending, inject cash into the banking sector and take other measures to beat back the crisis caused by the global financial meltdown. At an emergency summit ...

Europe takes steps to aid ailing banks - Miami Herald
PARIS -- European leaders took unprecedented steps late Sunday to try to halt a galloping financial crisis in its tracks, announcing aggressive action to take big stakes in banks and guarantee lending between banks. European Union members announced ...

Treasury targets bankers' pay after pumping in £37 billion for ... - Times Online
The Government confirmed today that it will inject £37 billion of taxpayers' money into Britain's flailing financial system, with Royal Bank of Scotland (RBS) taking the lion's share of the Treasury bailout. RBS will raise £20 billion in a deal ...