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News about Mortgages:
Joe Biden campaigns in Southside - WSLSJoe Biden made two stops in Southside Virginia on Friday. First, he was in Danville speaking to a crowd of roughly 600. His second stop was at the gymnasium at the Patrick Henry Community College. 700 people were there to hear a fiery speech from the ...
Owner of Danville mall could seek bankruptcy - WSLSCity officials are keeping a close eye on General Growth Properties Inc.’s stock collapse because the Chicago-based company owns Piedmont Mall. General Growth, the second-largest U.S. shopping mall owner, had its worst trading day ever Tuesday ...
Martinez, HUD Secretary talk more subprime - Jacksonville Daily RecordPotential foreclosure candidates can receive help from a new government-backed mortgage refinancing program. A crowded conference room at the Bank of America government fulfillment center on the Southside heard about the Federal Housing ...
CCISD seeks funds to consolidate, renovate - Corpus Christi CallerCORPUS CHRISTI — A Corpus Christi Independent School District $140 million bond issue would bring four new elementary campuses and $43 million in improvements to campuses. The bond also would help fund construction of a Career and Technology high ...
McCain, Obama get tough, personal in final debate - Evansville Courier-PressSee the results without voting » . HEMPSTEAD, N.Y. — John McCain assailed Barack Obama's character and his campaign positions on taxes, abortion and more Wednesday night, hoping to turn their final presidential debate into a launching pad for a ...
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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