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News about Mortgages:
Simon Property Group Incorporated - Fort Lauderdale Sun-SentinelWhen Dolly Parton's Dixie Stampede abruptly shut down and laid off 162 workers in early January, the dinner theater's owners said they had sold the attraction in a deal that was too good to pass up. That deal, it turns out, has fallen apart, leaving ...
Commercial real estate looks bleak for 2009 - Naples Daily NewsNext year could be one of the toughest the industry has faced since the early 1990s, when it saw a depression. “Forget the quick fix here: 2009 is going to be a downer,” said Chuck DiRocco, managing director of industry trends and analysis at the ...
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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