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News about Mortgages:
Refinance rush - Baltimore SunT he economic turmoil of 2008 has left few bright spots, but here's one: Mortgage rates have plummeted. Rates on 30-year, fixed loans are hovering around 5 percent - the lowest level since Freddie Mac began tracking rates in 1971. Some economists ...
Harborplace, Gallery retail complex is for sale - Baltimore SunHarborplace & The Gallery, the shopping and entertainment development that was central to Baltimore's downtown renaissance, is for sale as its landlord faces pressure to raise cash to avoid bankruptcy. The New York investment bank DTZ Rockwood posted ...
Huntsville To Try Again For School Construction Funds - Morning NewsHUNTSVILLE -- Local and state school officials have their fingers crossed that patrons will approve the latest financing plan to build an addition to Huntsville Middle School. No new taxes are being requested in this latest measure to pay for much ...
2008: Year in Review - Complete Edition - Wayne IndependentHere is the complete round-up of highlights from front page news in The Wayne Independent for 2008 in Wayne County, Pa. 2- The year opens with coverage of one of many seminars on natural gas leasing, as companies and landmen canvass northern Wayne ...
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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