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Convention center planning still on; building is another matter - Nashville TennesseanIn Texas, the city of Arlington is trying to refinance bonds issued to pay for a new NFL stadium. In Alabama, the state's largest county is trying to stave off bankruptcy by renegotiating costly sewer bonds. And in California, state officials hope to ...
Local banks say they have the money to support loans - Blueridgenow.comDespite the financial turmoil making headlines, executives at local banks say they have money to provide consumer, residential and mortgage loans. “People don’t realize that community banks are still making loans,” said John Myer, senior vice ...
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.
Buyers 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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