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Treasury says mulling ways to cut foreclosures - Reuters
WASHINGTON (Reuters) - The Treasury Department is "aggressively" looking at ways to reduce skyrocketing home foreclosures under a $700 billion financial rescue program that so far has aimed at shoring up banks, the official in charge of the program ...

Retail sales sink as Dems seek auto industry loans - WTOP Radio
WASHINGTON (AP) - The worst monthly drop on record for retail sales set off new alarm bells about the economy Friday, stepping up pressure on policymakers to figure out how to combat what increasingly looks to be a severe recession. Confronting ...

Pure Earth gets funding from Susquehanna Bank - Philadelphia Business Journal
Pure Earth Inc. said Monday it has closed on an $8 million term loan with Susquehanna Bank . The Trevose, Pa., company said it used $5.4 million of the loan to refinance debt at its Casie Group subsidiary. The rest will provide Pure Earth (Pink ...

Begging for Bailout Cash, U.S Cities Told to Go Fish: Joe Mysak - Bloomberg
Nov. 18 (Bloomberg) -- You can't blame U.S. cities for eyeing the federal government's open vault and asking for a bailout, too. Atlanta, Detroit, Philadelphia and Phoenix have all asked in recent days for some of the Troubled Asset Relief Program ...

Memo to Congress: Act now - Boston Globe
HOUSE Financial Services Committee chairman Barney Frank describes the economic recovery plan as a three-legged stool: thaw the credit markets; stop the hemorrhage of foreclosures; and stimulate the economy. Without all three legs standing, the ...

Painless ways to save $826.05 - Philadelphia Daily News
Consumer Reports ran the numbers in an article this summer and found that the average person can save about $175 by calling around for new bids on auto and life insurance policies. CR reporter Jeff Blyskal says it’s one of the best ways there is to ...

Meltdown of economy detailed in local reports - Birmingham Business Journal
Economic wreckage is spread across the country, in virtually every sector, starting with housing, with one in every 452 U.S. housing units receiving a foreclosure notice in October. The Federal Reserve Bank of Atlanta's vice president delivered grim ...

Lincoln Financial Group Applies to Become Savings and Loan Holding ... - MSN MoneyCentral
PHILADELPHIA , Nov. 17 /PRNewswire-FirstCall/ -- Lincoln Financial Group LNC today announced that it has applied with the Office of Thrift Supervision to become a savings and loan holding company concurrent with reaching an agreement to acquire ...

Bailout goes from necessary to nightmarish - Atlanta Journal Constitution
That $700 billion financial sector bailout that I supported — and do still, but with an exit strategy — is a nightmare in the making. Look what’s happened since the first of the month: Atlanta Mayor Shirley Franklin, smelling a bailout handout ...

2008 (2665) - Dakota Voice
â–º May 22 - May 29 (1) To assuage conservatives, McCain has rolled out endorsements from leading conservatives and aired a new television ad that mentions Ronald Reagan. He plans to attend a major gathering of conservatives later this month. The ...

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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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