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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Calhoun mortgage rates news:

Region sees double-digit jobless rates - Times & Democrat
Orangeburg, Bamberg, Barnwell and Allendale counties had double-digit unemployment rates for August -- and Calhoun wasn’t far back. The August jobless figures for The T&D Region followed the statewide pattern with increases of 1 percent or more ...

Bailout: Little help for homeowners - CNN Money
NEW YORK (CNNMoney.com) -- The $700 billion bailout legislation now under consideration by Congress calls for the Treasury Secretary to implement a plan to stem foreclosures by working with servicers to modify loans. But many housing experts question ...

The Untold Story Behind the Mortgage Numbers the Federal Reserve ... - HispanicBusiness.com
WASHINGTON, Sept. 8 /PRNewswire/ -- The Federal Reserve today released figures showing once again that African-Americans and Latinos pay more for mortgages than white borrowers. Data collected from lenders for 2005 show that a majority of loans (52 ...

Subprime Lending Hurts Homeowners - Social Funds
The Center for Responsible Lending contends that subprime lending has led to a net loss in homeownership. SocialFunds.com -- Not since the Great Depression has the mortgage market faced harder times, asserts a new report from the Center for ...

Miller, Watt take aim at predatory lending with updated bill - Raleigh News & Observer
* Require mortgage brokers and bank loan officers to be licensed. * Require those who make loans to establish that borrowers have a reasonable ability to repay a loan. * Prohibit home refinancing unless the borrower will receive a "net tangible ...

Inside Idaho Business: Real estate market effects folks differently - Idaho Statesman
Washington may soon commit hundreds of billions of taxpayer dollars to bail out banks, mortgage companies, insurance companies and other businesses that never should have sought to profit from people who bought homes they couldn't afford. But no one ...

Coastal Post Online - Coastal Post News
(EIRNS)--In a report that still understates the damage to be wrought by the popping of the Greenspan housing bubble, the Center for Responsible Lending (CRL) forecasts: "As this year ends, 2.2 million households in the subprime market either have ...

Saving the Wealthy Class from Itself - OpEdNews.com
The Gilded Age of America occurred after the Civil War and coincided with the industrial revolution of that period in which great wealth was concentrated to the upper classes. The wealth concentration to the very few resulted from the owners of ...

Silicon Valley home sales slide; median price dips below $600,000 - San Jose Mercury News
In a season of stunning financial news comes more drama from the local housing front: The median house price in Santa Clara County plunged 26 percent last month compared with a year earlier, the county's steepest decline on record. And for the first ...

Items pertaining to Lowry Hill East (The Wedge) neighborhood - Southwest Journal
+ Nov. 30, 2:27 p.m., W. 60th St. and Xerxes Ave. Two unknown suspects assaulted a 20-year-old man and a second person. The two suspects assaulted the victims with an aluminum bat while two other suspects sat in a vehicle watching. All suspects fled ...