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Rivertown Crossings owner scrambles to fend off creditors - MLive.com
It's unclear if West Michigan's largest mall, RiverTown Crossings, will go up for sale as owner General Growth Properties Inc. scrambles to refinance $1 billion debt due next month. But a change in ownership at the mall a half-hour from Muskegon isn ...

U.S. New-Home Sales Unexpectedly Rise as Prices Drop (Update1) - Bloomberg
Oct. 27 (Bloomberg) -- Sales of new houses in the U.S. unexpectedly rose in September from a 17-year low, propelled by a drop in prices ahead of the latest turmoil in financial markets. Purchases increased 2.7 percent to an annual rate of 464,000 ...

GM seeks fed aid for Chrysler merger - Detroit News
WASHINGTON -- General Motors Corp. is in talks with government officials about obtaining about $5 billion to help fund a possible merger with Chrysler LLC. GM Chairman and CEO Rick Wagoner was in Washington last week to meet with U.S. Treasury ...

U.S. Economy: New-Home Sales Increased in September (Update1) - Bloomberg
Oct. 27 (Bloomberg) -- Sales of new houses in the U.S. were unexpectedly rising before credit markets froze this month, having rebounded from a 17-year low thanks to a drop in prices. Purchases increased 2.7 percent in September to an annual rate of ...

Stock market bears down on recent retirees' dreams - Detroit Free Press
When Dan Valle took his buyout from Ford Motor Co. more than a year ago, he did what he thought was the sensible thing. Then age 57, he rolled over a lump-sum payout, roughly a year's salary, into an individual retirement account. He turned to a ...

Bankruptcy threatens RiverTown Crossings owner - Grand Rapids Press
GRANDVILLE -- It's unclear if West Michigan's largest mall, RiverTown Crossings, will go up for sale as owner General Growth Properties Inc. scrambles to refinance $1 billion debt due next month. But a change in ownership isn't expected to impact ...

The Greening of Hartford - Hartford Advocate
Imani Zito: making a hybrid business. Imani and John Zito have created an oasis of green businesses on New Britain Avenue across from Trinity College. Think of it as an urban homestead, where their six home-schooled children play and study and ...

US home sales in surprise rise - The Age
Sales of new houses in the US unexpectedly rose in September from a 17-year low, propelled by a drop in prices ahead of the latest turmoil in financial markets. Purchases increased 2.7% to an annual rate of 464,000 from 452,000 the prior month that ...

ROTHBURY's future left hanging - MLive.com
Chronicle file photo/Marge Beaver Last July's ROTHBURY festival, the first-year event that drew 40,000 people for four days, faces a deadline next week if there is to be a second festival. Festival organizers have set a deadline for next week to come ...

Gillard flags childcare rethink - Australian Broadcasting Corp.
Education Minister Julia Gillard has indicated the Government may seek tighter controls over the childcare industry in the wake of yesterday's collapse of ABC Learning. Ms Gillard has blamed the Howard Government for letting the private childcare ...

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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