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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

Philadelphia home equity loans news:

Sallie Mae Appoints Mark L. Heleen General Counsel - Businesswire.com
RESTON, Va.--( BUSINESS WIRE )--SLM Corporation (NYSE:SLM), commonly known as Sallie Mae, announced today that it has appointed Mark L. Heleen senior vice president and general counsel. Heleen joined Sallie Mae in 1998. He has held responsibility for ...

SE Financial Corp. Announces Fourth Quarter and 2008 Year End Results ... - Marketwatch
PHILADELPHIA, Dec 01, 2008 (BUSINESS WIRE) -- SE Financial Corp. (trading symbol:SEFL) (the "Company"), the holding company for St. Edmond's Federal Savings Bank, announced net income of $212.7 thousand for the three months ended October 31, 2008 as ...

The Bailout So Far - Wall Street Journal
Here's a fact to mull over: Washington a few months ago might have bought the entire stock of subprime mortgages for about half the money committed by the Fed and Treasury last week to prop up Citigroup and spur consumer and mortgage lending. Corbis ...

Efforts are under way to head off foreclosure - Philadelphia Daily News
At least four huge U.S. mortgage companies and two federal agencies are trumpeting programs to combat the home-foreclosure epidemic that is crippling the economy. But will they work? They are among a slew of efforts, but "none of them have really ...

The Coming Recession - Reason.com
As this issue of reason goes to press, the dollar is at a record low against the euro, oil is more than $100 a barrel, consumer prices are up 4 percent from a year ago, and Federal Reserve Chairman Ben Bernanke is cutting interest rates so often that ...

Credit crunch hits small firms - Detroit Free Press
Ann St. Peter, who owns Pinwheel Bakery in Ferndale, always figured that people would cut out the $100 dinners at fancy restaurants in trying economic times. But when she opened her bakery about 18 months ago, she never imagined that colorful cookies ...

Many want pay based more on performance - Fort Wayne Journal Gazette
In 2007, as their companies started to falter, many executives were getting increases to compensation packages that already paid more in a day than most Americans make all year. Take Brian F. Roberts, chairman and CEO of Philadelphia-based Comcast ...

Business Right Now - Kait 8
NEW YORK (AP) - A Monday sell-off erased a large portion of last week's gains. Some investors were hoping that last week's rally was a sign that stability had returned to the market. Analysts caution that until there are true signs that the economy ...

A college football playoff system will cause big problems - ESPN.com
The NCAA continues to insist that two perfectly good names, Division I-A and Division I-AA, be changed to the Football Bowl Subdivision and the Football Championship Subdivision. TMQ proposes changing them to the Football at Variance with President ...

Feedback Blog - Reading Eagle
A divided City Council missed the deadline Monday for adopting a 2009 budget, but it agreed to raise the property tax 5 percent while rejecting an increase in the earned-income tax. Council had tried to approve a $68.8 million budget that was $1.9 ...