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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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Butler mortgage loans news:

Continuous news, views, and abuse by the Reason staff - Reason.com
The great, unlamented mascot of Pets.com and the tech bubble, Sock Puppet, comes to Congress with a paw out for taxpayer money and inadvertently suggests a way forward through the current moment that doesn't involve massive giveaways. Approximately ...

For one family, foreclosure brings heartache, yes, but also healing - San Jose Mercury News
The power had been turned off. The house was empty. The bank was ready to take possession. But Rodney Reynolds didn't want to leave. Every time his wife called, he'd say, "I've still got stuff to pack." He spent three more nights on the carpeted ...

For Fremont family, foreclosure brings heartache, yes, but also ... - San Jose Mercury News
The power had been turned off. The house was empty. The bank was ready to take possession. But Rodney Reynolds didn't want to leave. Every time his wife called, he'd say, "I've still got stuff to pack." He spent three more nights on the carpeted ...

Jurors hear confession tape in Randolph murder trial - Newark Star-Ledger
After police caught Jonathan Zarate and two teen-agers trying to dump a trunk containing a Randolph girl's beaten and dismembered body into the Passaic River in Rutherford, Zarate told an investigator he had found his next-door neighbor dead. "I ...

Weep for Woolies - bbc
The manner of Woolworth's demise as a going concern was almost as shocking as the fact of its collapse into administration. Although Woolworth had been one of the UK's weaker retailers for years - propped up by a decade of benign, debt-fuelled ...

Foreclosures big player in Southeast Valley resale market - AZCentral.com
Bad news keeps coming in the troubled housing market, according to resale home data released today. Nearly half of the Valley homes resold in October were due to foreclosures in which banks took back properties or bidders bought them from the bank ...

Mortgage refinancing rush is on - Milwaukee Journal Sentinel
Experts say everybody's case is unique and depends on the type and status of the mortgage, refinancing costs, overall finances and plans for the home. But there are some common factors to consider: How long will it take to recover the up-front costs ...

Mortgage lending seized up in '07 - Cincinnati.com
Mortgage lending in Greater Cincinnati and Northern Kentucky slowed by 20 percent in 2007 - a drop that foreshadowed the full-blown banking crisis that's still intensifying this year. An Enquirer analysis of federal lending data underscores the depth ...

Housing market far from robust - Rutland Herald
MILWAUKEE — Susan Kerwin's three-bedroom house in Jackson, Wis., has been in move-in condition since she put it up for sale in May. The trouble is finding someone who wants to move in — or even make an offer. She's heard lots of reasons why ...

Plan will alter home loans swiftly - Des Moines Register
Wells Fargo, the nation's largest home lender, says a new Treasury Department program will allow it to help at-risk homeowners more quickly. In fact, Wells Fargo's West Des Moines-based home loan division helped create the program, designed to ...