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News about Mortgages:
Darling details £50 billion bank bailout plan - Times OnlineChancellor Alistair Darling today launched a drastic rescue of Britain's high street banks in move designed to head off a cataclysmic failure of confidence by announcing a part-nationalisation plan with £50 billion of taxpayers' money. He said there ...
British taxpayer to be tied into £50bn bank bailout - Times OnlineTaxpayers will be committed today to providing more than £50 billion to bail out high street banks in an attempt to avert a cataclysmic failure of confidence. Alistair Darling was due to tell the City in an early morning announcement today that the ...
October 2008 - Posts - MSNBC FirstreadMcCain just called on his supporters to be respectful at his town hall. "We want to fight, and I want to fight, but we will be respectful," McCain said to boos at first. "I want everyone to be respectful," he then said and people began to clap. In ...
Iceland's bank crisis: Kaupthing taken over by Government - HeraldIceland's banking crisis deepened today after the country's biggest bank was taken over by the Government. Kaupthing, whose UK investment banking arm was put into administration yesterday leaving around 800 staff in limbo, is now in the hands of the ...
October 2008 - ABC News BlogsFour weeks out, what does it say that . . . Team McCain is hoping that Bill Ayers has one last bomb in him -- just enough to blow up the presidential race? . . . That it’s the McCain campaign that has to telegraph its intentions to keep the base ...
FHA loans come to rescue of home buyers - Delaware OnlineThe Magnolia resident was drowning in bills and wanted to refinance, but with home prices declining, her consolidated debt totaled almost as much as her home was worth. But the quick refinancings and easy credit of years past were drying up ...
Hank Paulson has turned a drama into a crisis - Times OnlineIt looks as if the prophets of doom may have been right after all. With the demise of Lehman Brothers and Merrill Lynch - and the threatened collapse of the world's largest insurance company, American International Group - we are now unquestionably ...
After the rescue - Financial TimesThe collapse of Lehman Brothers and Bank of America’s takeover of Merrill Lynch mark the latest chapter in the credit crisis, which has already seen the US government bail out mortgage groups Fannie Mae and Freddie Mac. As the world’s biggest ...
Home buyers still finding it tough - Marketplace.publicradio.orgScott Jagow: So, the government is bailing out Fannie and Freddie. The Fed has cut interest rates many times. Congress has passed a housing relief bill. And still, the housing market struggles. Here's a good example from Houston. It's a city where ...

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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.
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