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

Henry mortgage rates news:

Agency Mortgage-Bond Yield Spreads Reach Lowest in a Month - Bloomberg
Aug. 29 (Bloomberg) -- Yields on agency mortgage securities touched the lowest in a month relative to U.S. Treasuries after buyers took advantage of some of the widest spreads since 1986. The difference between yields on Fannie Mae's current-coupon ...

Agency Mortgage-Bond Yield Spreads Narrow to Lowest in a Month - Bloomberg
Aug. 29 (Bloomberg) -- Yields on agency mortgage securities fell to the lowest in a month relative to U.S. Treasuries after buyers took advantage of some of the widest spreads since 1986. The difference between yields on Fannie Mae's current-coupon ...

Fannie Mae replaces 3 top managers - Seattle Times
Fannie Mae Chief Executive Officer Daniel Mudd replaced three top managers at the beleaguered mortgage-finance provider as the company struggles to convince investors it has enough capital to weather the housing slump. Financial chief Stephen Swad ...

Mortgage modifications reach record in July - Pittsburgh Post-Gazette
The nation's mortgage companies modified a record 192,034 loans last month, setting up repayment plans or changing terms to avert foreclosure, an industry survey showed. The Hope Now Alliance, a coalition of servicers, counselors and investors, aided ...

Five Dumbest Things on Wall Street: Aug. 29 - Street.Com
All Black and White at Citi In an apparent response to its previously inked bad deals of exotic mortgage-backed paper, Citigroup's ( C - Cramer's Take - Stockpickr ) management is finally initiating a plan to save some bucks to counteract the ...

House prices 'fall 10.5% in year' - BBC News
UK house prices have seen an annual double-digit fall for the first time since 1990, according to the latest survey from the Nationwide. Prices were 10.5% lower in August than they were a year ago. Prices fell by 1.9% compared with July. The average ...

After Merrill's Sale of Bad Debt, Few Have Followed - Washington Post
Resize NEW YORK -- Merrill Lynch sent an important message last month to its Wall Street brethren when it sold off a massive portfolio of securities badly damaged by the subprime mortgage meltdown: Someone was still willing to buy them. Shareholders ...

Wall Street's Big Sell-Off - BusinessWeek
Wall Street's big yard sale, however, may not be well attended. Distressed funds, the main scavengers, have raised $70 billion in the last 18 months, according to Dow Jones Private Equity Analyst . Other money managers may have an additional $30 ...

Limerick drug mixing factory uncovered by Gardai - Independent
Gardai in Limerick have uncovered a drug mixing factory at a house in the city. Around 400 thousand euro worth of cocaine was uncovered following a search earlier today. Three men have been arrested. Gardai believe the house in Castletroy View was ...

Fannie, Freddie post biggest profits on mortgages since 1998 - Tehran Times
The crisis of confidence that sent Fannie Mae and Freddie Mac debt costs to record highs above U.S. Treasuries is also providing the mortgage-finance companies with the biggest profits on new investments since at least 1998. The current-coupon ...