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News about Mortgages:
Neighborhood of the week: Usquepaug - Providence JournalProvidence JournalNeighborhood of the week: UsquepaugProvidence Journal, RI - Dec 26, 2008By Christine Dunn A center chimney rises from the roof of this Colonial house in Usquepaug near Route 138 in South Kingstown. ...
Santa helpdesk: All I really want for Christmas is an economic miracle - Scotland on SundaySanta helpdesk: All I really want for Christmas is an economic miracleScotland on Sunday, UK - Dec 20, 2008Of course, you already have: Northern Rock. You're part of the problem, forcing the Rock to slash mortgage lending, thereby crucifying the whole market. ...
Economic stability? Ho, ho, ho! - TribuneEconomic stability? Ho, ho, ho!Tribune, UK - Dec 18, 2008To this end, I would like Santa to pop down the chimney of Number 10 Downing Street and have a quiet word with the prime minister. ...
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