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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. View all Terms

Bay mortgage rates news:

What caused economic crisis? No one thing - St. Petersburg Times
In this complex financial crisis, the presidential candidates have the biggest megaphone of all to help us understand the mess we're in. But relying on them for an unvarnished view is like asking competing trial attorneys to provide the "facts" of a ...

Markets set for more losses: it's human behaviour at its extremes - Edmonton Sun
TORONTO - Investors should be braced for more dizzying volatility this week following a week of steep losses as the freeze in global credit markets deepens despite concerted rate cuts by central banks and action by governments to supply liquidity so ...

Mortgage rates slide again - Inside Bay Area
WASHINGTON — Rates on 30-year mortgages fell below 6 percent this week, recording the first decline in three weeks. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 5.94 percent this week, down from 6 ...

McCain fleshes out his plan to buy mortgages - St. Petersburg Times
In a debate that featured rehashed candidate positions, one new policy emerged: Sen. John McCain's proposal to have the government buy and renegotiate "literally millions" of mortgages on houses whose values have dropped and whose owners are ...

Interbank lending rates keep rising - Inside Bay Area
NEW YORK — Governments around the world have slashed interest rates and ramped up their lending to unprecendented levels, but banks are still charging each other extremely high borrowing rates — a bad sign for the credit markets that remain close ...

Housing will also take a hit - News.com.au
PROPERTY prices often rise when the share market falls but analysts are warning that it will be different this time. The credit crunch is set to hit Sydney's fragile real estate market, despite the Reserve Bank's decision to slash official interest ...

Crisis hits mortgage rates - Ottawa Sun
TORONTO — One of Canada’s biggest mortgage lenders, TD Canada Trust, is increasing the interest rate charged for its home equity line of credit and variable-interest mortgages. The bank has been charging its prime rate for its Home Equity Lines ...

Promises of help added to woes - Baltimore Sun
Two women beset with health and financial problems were facing imminent foreclosure on their Ellicott City homes when they thought rescue was at hand. Betty J. Bullock, 63, had poor eyesight and diabetes for years and lived on about $800 a month in ...

Market woes make a political quagmire - Green Bay Press-Gazette
The stock market's seesaw after a $700 billion Wall Street bailout has voters on edge about the future of the economy, and local experts say the next president has to foster domestic growth and prioritize spending to counter the long-term effects of ...

An up and down day for money market funds - San Francisco Gate
Thursday, October 9, 2008 World's banks join up to slash interest rates 10.08.08 McCain campaign outlines mortgage-rescue plan 10.08.08 Pender: Up and down day for money market funds 10.09.08 Bailout gives tax break to bicycle commuters 10.08.08 ...