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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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Hancock mortgage rates news:
Financial News
Farm group wants entire 1pc rate cut passed on - Australian Broadcasting Corp.
The Queensland Farmers Federation says rural producers should get all of the 1 per cent reduction in official interest rates. The Reserve Bank yesterday announced the biggest single cut in 16 years, and the four major banks said they would pass on 0 ...

For Banks, Smaller Is Better - Investors Business Daily
Now that the big banking behemoths have been humbled by breathtaking credit losses, plain-vanilla banking is back in fashion. Even the large Wall Street money centers still left standing are turning themselves into regulated bank holding companies to ...

The view from the financial ledge - Baltimore Sun
Yesterday's bailout approval is not the end of the financial crisis. Rather, it halts the free-fall, if only temporarily. It furnishes a narrow ledge to perch on, assess broken bones and contemplate the abyss. Policymakers still need weeks to figure ...

Let's skip biography and get to economy - Baltimore Sun
N o wonder both presidential candidates are promising change. Even the stupid don't need to be reminded that, yet again, it really is the economy that will dominate voters' concerns. Especially the last couple of days. After a fortnight of diverting ...

Thaw in credit may begin next week - Boston Globe
Congress rushed through a $700 billion program to bail out financial firms, but it will take at least a month before the government can make the deals for which the plan was designed: buying large holdings of risky, mortgage-backed securities from ...

A House Unsold, the Dream Dims - US News and World Report
In pursuing the American dream, Hector Garcia figured he was doing everything right. A hardworking welder with two jobs and a new family, he bought his first house 4 1 / 2 years ago in Denver's Montbello neighborhood. Montbello's older, brick ranch ...

Insurers smacked by AIG fallout - Boston Globe
Shares in two Canadian insurers with big Boston operations took a pounding yesterday over the companies' holdings in American International Group Inc. and other troubled securities that are at the center of the financial industry's credit crisis ...

The crisis made simple: how dodgy home loans in America led to ... - Times Online
What caused these problems? It began in America where lenders offered mortgages to people who struggled to meet the repayments, the so-called “sub-prime” loans. The mortgages were pooled and trading in these bundles of loans became an industry in ...

Lehman Creditors Lose as Real Estate Offered in Falling Market - Bloomberg
Sept. 22 (Bloomberg) -- Lehman Brothers Holdings Inc. 's bankruptcy filing may delay the sale of about $30 billion of commercial real estate assets at a time when property values are eroding, leaving less on the table for creditors. Lehman has ``$30 ...

Credit unions avoid economic pitfalls - News-Herald
In recent months, there have been many news articles regarding the downturn in our economy and financial institutions that are having potentially serious financial problems. As a whole, America's credit unions are still a secure and strong option for ...

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sources: informars.com, erate.com, Freddie Mac
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