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New Fed Strategy Makes Home Lending More Affordable - 13 WREX-TVROCKFORD - Keeping a roof over your head gets easier after a second financial bailout triggers a drop in mortgage rates. David Adkins from Blackhawk Bank said, "The things going on in our economy is unprecedented." Case in point: The $600 billion ...
Buy Real Estate Now - Forbes11.27.08 - First, the bad news. New home sales in the U.S. haven't been this low since 1991, according to the Commerce Department. Now the good news. New home sales in the U.S. haven't been this low since 1991. This means prices are back to where ...
Riley suggests Uncle Sam cosign on Jeffco sewer debt - Birmingham NewsGov. Bob Riley told Birmingham business leaders Tuesday the federal government should provide a financial backstop for Jefferson County's efforts to restructure or refinance its sewer debt. That, he told members of Birmingham Regional Chamber of ...
Foreclosures in California on steep rise - San Francisco GateFriday, October 24, 2008 The news of the unrelenting rise came on the same day that the head of the Federal Deposit Insurance Corp. told Congress that the government should do more to help those at risk of defaulting on their mortgages. Statewide ...
On The Money Latest Posts - CNBCWhat a week. To cap it off Friday, Uncle Sam played the part of Santa Claus, finally stepping in to give the country a solution to this mess we’ve gotten into. But is it the right solution? Does it mean more money in your pocket? Will Congress get ...
Wall Street Crisis Video Gallery - CNBCCramer shares his outrage of the day. [ MER  Loading...    ( )  ] will create a financial colossus whose brokerage unit assets alone total $2.4 trillion, about one fifth of the nation’s gross domestic product. The takeover of Fannie Mae ...
How President Obama Will Deal With the Economy in 2009 - US News and World ReportAs America's 44th president, Barack Obama will have one of the most challenging "to do" lists of any new Oval Office occupant in at least a generation. But before Obama can begin implementing the key aspects of his campaign's domestic agenda ...
Paulson Pulls Bait and Switch, Let's Pull One of Our Own - OpEdNews.comWait a Wall Street minute! That’s exactly what the American taxpayers did NOT want to happen. The whole idea of approving something as distasteful as a bailout of Wall Street was that it had to ensure that it’s focus was to reduce foreclosures on ...
John McCain and Barack Obama on the Economy - US News and World ReportWhen did it all go so wrong, America? How about August of 2007? Back then, the economy was in the midst of its 24th straight quarter of economic growth, the unemployment rate was 4.7 percent, and oil was $70 a barrel. But it was during that month ...
The Feds' Next Step After Rescuing Banks - BusinessWeekBy Jane Sasseen So far, attempts to slow the foreclosure epidemic at the center of the crisis have had little impact. Despite "voluntary" industrywide efforts to rework troubled mortgages—efforts that Treasury Secretary Henry Paulson jawboned banks ...
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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