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Lenders Are Backlogged by Refinancing Rush - Washington PostBorrowers are rushing to refinance their mortgages at record low rates but face unexpected delays as swamped lenders struggle to cope with the surge at a time when layoffs have sharply cut staffing. Bank of America , which started shedding 7,500 ...
Borrowers seeking to refinance may face challenges - Frederick News-PostWith mortgage rates dropping to the lowest point in 37 years, homeowners are heading to lenders to refinance their loans. Jeri Benner of Mason Dixon Funding said her firm did 400 mortgages in December; about three-fourths of those were refinancing ...
Previous Post - CNBCENGLEWOOD CLIFFS, N.J., January 6, 2009 - He was a master of ID theft who made his way through Florida, Georgia, South Carolina, Texas and Tennessee with a female companion in tow, swindling major banks and hard-working people out of millions of ...
Low rates get loans moving again - Long Island Business NewsThe storm clouds that have hovered over the mortgage industry for almost two years are starting to roll away, now that interest rates are at 30-year lows. Local mortgage brokers, bankers and lenders saw a surge in applications in December for both ...
Should you refinance? - Fayetteville ObserverJaniece Brewer hasn’t been asked to crunch so many numbers since the housing boom of 2005. But instead of working with potential new homeowners, the inquiries at her mortgage loan company have been about refinancing as interest rates sink to record ...
Factbox: U.S. Economic Report Shows Poor Hit Hard - Post ChronicleThe U.S. recession is shaping up to give Americans their hardest economic times since World War Two. A new assessment of the economy was presented on Wednesday by the Congressional Budget Office, the non-partisan budget analyst for Congress. Here are ...
Commercial real estate at risk - Denver PostNEW YORK — The balance of power between landlords and tenants will shift dramatically in 2009. For landlords, this promises to be a year of intense competition, more bankrupt tenants, and tightfisted lenders. For renters, it looks like a time of ...
Commercial real estate in for tough 2009 - Huffingtonpost.comNEW YORK — The balance of power between landlords and tenants will shift dramatically in 2009. For landlords, this promises to be a year of intense competition, more bankrupt tenants, and tightfisted lenders. For renters, it looks like a time of ...
Refinancing for less - CNN Money(Money Magazine) -- Question: I'm refinancing my mortgage, and my lender tells me that I need to get a new title insurance policy, which will cost more than a thousand dollars. We haven't made any changes to our home, and there aren't any outstanding ...
Tough year ahead for commercial real estate - Frederick News-PostA shopper walks from the Linens ’N Things store at the Woodbridge Crossing shopping center in Woodbridge, N.J., on May 2. With the credit freeze pushing landlords toward foreclosure and a recession eroding rents and occupancy, owners of commercial ...
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