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Will Bush's Stimulus Package Work? It Depends on Who You Ask - Common DreamsAs the middle and poorer classes get crushed under a mounting pile of debt, and living costs grow faster than wages, we're becoming a country of two classes: the top 1% and everyone else. Similarly, we are two economies. The national one is comprised ...
The State of Whose Union? - Common DreamsEarlier this week, speaking for Washingtonia and unburdened by high expectations, President Bush said "all of us were sent to Washington to carry out the people's business." The question remains - exactly which people? And what business, Mr. Bush ...
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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