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World leaders pledge to combat global crisis - Seattle Post IntelligencerWASHINGTON -- With the global economy threatening to slip into a prolonged recession, world leaders have come up with a lengthy action plan they hope will bolster badly shaken investors' confidence. The plan was produced at a weekend meeting of ...
Nov 17, 5:39 AM EST - Associated PressWASHINGTON (AP) -- With the global economy threatening to slip into a prolonged recession, world leaders have come up with a lengthy action plan they hope will bolster badly shaken investors' confidence. The plan was produced at a weekend meeting of ...
Owner 'devastated' as bank seizes Kinnitty Castle - IndependentTHE owner of luxury hotel Kinnitty Castle says he is "devastated" after bank officials moved in and seized the property. The venue near Birr, Co Offaly , which is noted for its celebrity weddings, was foreclosed on Wednesday. The castle was scheduled ...
NHB may help construct more roofs for aam aadmi - Economic TimesNEW DELHI: In yet another move to provide more funds to cash-strapped housing finance companies (HFCs), the Reserve Bank of India (RBI) is looking at augmenting the resources of the National Housing Bank (NHB). NHB can use the funds to extend greater ...
Homebuilder, REIT shares tumble as recession spreads - ReutersNEW YORK (Reuters) - The shares of big U.S. homebuilders and real estate companies alike slumped on Wednesday as housing starts fell to a record low and concerns spread the commercial real estate market is going the way of residential. The benchmark ...
Street of risk and loss - San Diego Union-TribuneIt produced easy money for specula-tors and mortgage brokers and short-lived happiness for families who bought houses they couldn't afford to keep. Few streets in the county have witnessed as dramatic a turnaround as Little Lake. Nestled in the heart ...
People of modest means hitched hopes on Little Lake Street - San Diego Union-TribuneIt produced easy money for speculators and mortgage brokers and short-lived happiness for families who bought houses they couldn't afford to keep. NELVIN C. CEPEDA / Union-Tribune A "repo" bus tour through Otay Ranch stopped recently on Little Lake ...
UPDATE 1-Homebuilder, REIT shares tumble as recession spreads - ReutersNEW YORK, Nov 19 (Reuters) - The shares of big U.S. homebuilders and real estate companies alike slumped on Wednesday as housing starts fell to a record low and concerns spread the commercial real estate market is going the way of residential. The ...
BofA could move jobs to Charlotte - Atlanta Business ChronicleBank of America will likely relocate 650 jobs from the bank’s namesake skyscraper in Midtown Atlanta to Charlotte, N.C., unless the building gets a major renovation. BentleyForbes Group , owner of Bank of America Plaza, and attorneys representing ...
Storm heads for Asia property sector - International Herald TribuneHONG KONG : Property markets in Asia are about to be hit by the global economic downturn, with apartment prices and office rents in Hong Kong and Singapore expected to fall more than 20 percent by the end of 2009, a according to Reuters poll released ...
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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