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Hamburg School Board will try to refinance debt - Reading Eagle
The Hamburg School Board has agreed to try to refinance a $23 million variable-rate debt that is costing the district much more than planned. Because the interest rate has climbed, debt service on the loan's bond issue is expected to cost the ...

Borrowers move as new bailout plan drops mortgage rates - The State
Stuart Stenhouse has been watching the housing market for some time. On Wednesday, lured by a plunge in mortgage rates, the 40-year-old Sacramentan jumped in. "That's why I'm starting," Stenhouse said as he traipsed around Beazer Homes' Natomas Field ...

Man Arrested in Gruesome Killing of Ark. TV Anchorwoman - FOX News
LITTLE ROCK, Ark. — Police have arrested a man charged with capital murder in the October beating death of Little Rock television anchor Anne Pressly. Police Chief Stuart Thomas said at a news conference that the charge against Curtis Lavelle Vance ...

Fed will buy $500 billion in securitized home loans - ScrippsNews
Mortgage rates plunged after the Federal Reserve announced that it would buy up to $500 billion of securitized home loans. Rates on 30-year, fixed-rate, conforming mortgages fell well below 6 percent after the Fed announced Tuesday morning that it ...

Cheyne’s Queen’s Walk Fund Reports Loss, Amends Debt (Update1) - Bloomberg
Nov. 28 (Bloomberg) -- Queen’s Walk Investment Ltd. , a 179 million euro ($231 million) mortgage-backed fund run by Cheyne Capital Management (UK) LLP, reported a second-quarter net loss as it wrote down U.K. mortgage holdings. The 37.7 million ...

U.S. October Home Resales Fall; Price Drop Is Record (Update1) - Bloomberg
Nov. 24 (Bloomberg) -- Home resales in the U.S. dropped in October and prices fell by the most on record, signaling a deepening housing recession going into 2009. Purchases of existing homes declined 3.1 percent last month to an annual rate of 4.98 ...

US home resales drop, prices slump - The Age
Home resales in the US dropped in October and prices fell by the most on record, signaling a deepening housing recession going into 2009. Purchases of existing homes slid to an annual rate of 4.98 million, lower than forecast, a National Association ...

Full coverage: BHP dumps Rio mining mega-bid - ninemsn
Global miner BHP Billiton on Tuesday abandoned its hostile takeover bid for rival Rio Tinto , blaming sliding metals prices and the threat of global recession for scuppering the mega-merger. BHP announced the bid last November as ...

November 2008 - Palm Beach Interactive
Gov. Charlie Crist wants to have a temporary foreclosure freeze in place by next week, he said this morning. Crist said he is meeting with bankers to try to come up with a deal without having lawmakers involved that would stall foreclosure ...

Hamburg School District may refinance $25 million loan - Reading Eagle
Hamburg School District officials fear they could deplete the district's reserve fund if they don't soon begin refinancing a $25 million loan. Since September, the district has paid about $110,000 more in interest than it has received in what is ...

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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
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