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Financial News
General Growth Properties could face bankruptcy - Houston Business Journal
General Growth Properties Inc. , the owner of five shopping malls in the Houston area, reported in a regulatory filing Tuesday that it faces potential bankruptcy if it’s unable to refinance its debt. The Chicago-based company, which also owns a 50 ...

Owner Of 5 Houston Malls May Go Bankrupt - Click2Houston.com
HOUSTON -- A company that owns five Houston area malls said Wednesday that it may have to file for bankruptcy, KPRC Local 2 reported. That concerns some folks who shop at those malls. Margo Eisenberg has lived in northwest Harris County since 1981 ...

Mall owner may file for Chapter 11 - KTRK
HOUSTON (KTRK) -- The economy is hurting businesses you may have never thought would be in trouble. That is the case with the owner of The Woodlands Mall. The company owns 200 other properties across the nation, but it has billions of dollars of debt ...

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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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