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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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The latest
Mortgage Loan News:
Mortgage Video Gallery - CNBCOne possible silver lining of the housing crisis is a big drop for mortgage rates. Dan Gilbert, chairman of Quicken Loan... UK Banks Feel Repossession ... UK banks are being lenient on mortgage defaults because repossessions cost the banks an ...
Lower US mortgage rates help but jobs, prices key - Guardian UnlimitedNEW YORK, Dec 3 (Reuters) - The lowest mortgage rates in three years are luring first-time buyers and cost-cutting refinancers, but falling home prices and mounting unemployment will keep U.S. housing in its deepest slump since the Great Depression ...
Westin Resort & Spa owner may default on bank loan - Island Packet OnlineThe owner of The Westin Resort & Spa, one of Hilton Head Island's largest oceanfront hotels, is in danger of defaulting on a multi-million dollar loan it took out to finance improvements at the 412-room property and at another hotel in Arizona ...
General Growth Properties wins loan extension for Las Vegas malls - Newark Star-LedgerGeneral Growth Properties -- the nation's No. 2 shopping mall operator, with four outlets in New Jersey -- has received a two-week extension on mortgage loans totaling $900 million, as the troubled company works to stave off bankruptcy and negotiate ...
US shares advance - The AgeUS stocks gained as a jump in online spending and a record increase in mortgage applications triggered gains in retailers and banks, overshadowing concern the worsening recession will reduce demand for commodities. Amazon.com Inc. rose as much as 10 ...
U.S. Stocks Rise, Led by Banks, Retailers; Amazon.com Jumps - BloombergDec. 3 (Bloomberg) -- U.S. stocks rose for a second day as a jump in online spending and a record increase in mortgage applications lifted retailers and banks, overshadowing concern the worsening recession will reduce demand for commodities. Amazon ...
Editorial: Federal Aid - Philadelphia InquirerYesterday's meeting between President-elect Barack Obama and America's cash-strapped governors at Congress Hall was a promising start toward easing the states' fiscal woes. Obama didn't commit to a bailout figure, but it was clear after listening to ...
U.S. Stocks Rise, Led by Banks, Stores; Commodity Shares Slump - BloombergDec. 3 (Bloomberg) -- U.S. stocks gained as a jump in online spending and a record increase in mortgage applications triggered gains in retailers and banks, overshadowing concern the worsening recession will reduce demand for commodities. Amazon.com ...
Regulators ignored warnings long before credit meltdown - MyCentralJersey.comIt ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents. "Expect fallout, expect foreclosures, expect horror stories," California mortgage lender Paris Welch wrote ...
U.S. Consumer Loan Aid Will Only Trickle So Far - Free Internet PressIf you’re buying a home, refinancing a mortgage or seeking an auto or student loan, the new government plans to make borrowing cheaper and easier sound like a gift. One problem, however, is that whole categories of people may be ineligible. If you ...
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