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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Franklin refinance mortgage news:

State Supremes: unsubstantiated allegations of teacher sexual ... - Spokane Spokesman-Review
In a case where the 11 petitioners are all known as John Doe, the state Supreme Court ruled 6-3 this morning that unsubstantiated allegations of teacher sexual misconduct can be withheld from public disclosure. School districts can investigate any ...

House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News Blogs
ABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...

Highlights from history: How America went from 'nation of renters ... - Marshall Democrat-News
Editor's note: Nationwide, the housing market crisis is spreading throughout the economy. Staff writer Kathy Fairchild has been doing research on how the crisis is affecting Saline County, how the situation developed and what people can do to weather ...

With markets in turmoil, how to buy gold bars - Globe and Mail
As the global financial crisis deepens, Report on Business writers examine and explain the turmoil in credit and stock markets. Here, we answer your questions daily, with the most recent at the top. With the market in turmoil, I may buy some gold ...

November 2008 - Palm Beach Interactive
Gov. Charlie Crist wants to have a temporary foreclosure freeze in place by next week, he said this morning. Crist said he is meeting with bankers to try to come up with a deal without having lawmakers involved that would stall foreclosure ...

Regulators arrange for Prosperity Bank to acquire Franklin Bank - Houston Chronicle
• How does this failure affect me?: If you held an account at Franklin Bank, SSB, you now have one at Prosperity Bank that you can access at your former Franklin Bank branches during regular business hours. If you had a loan with Franklin Bank ...

Obama Overhaul of Finance Rules May Lead to Clash With Industry - Bloomberg
Nov. 5 (Bloomberg) -- Now that Barack Obama has won the White House, his campaign to overhaul a financial industry imperiled by its worst crisis in seven decades begins. The president-elect has vowed a top-to-bottom examination, focusing on ...

Tri-City mortgage market grows with FHA-backed loans - Tri-City Herald
Mike Martin recently refinanced out of an adjustable rate mortgage and into an Federal Housing Administration loan for his Richland home. Though the real estate market has slowed in the Tri-Cities, the number of FHA-backed loans has grown. Getting ...

Mortgage rescue: Where McCain and Obama stand - Herald News
The politics of housing have changed in four years. In 2004, George W. Bush campaigned on a platform of increasing homeownership, especially among minorities. He wanted the government to insure zero-down payment mortgages. “In changing times ...

Tri-City homeowners make use of refinancing program - Tri-City Herald
Hundreds of local homeowners have taken advantage of a program to refinance their mortgages in the last year into a Federal Housing Administration-insured, fixed-rate mortgage. The FHASecure program started in September 2007 and is designed to get ...