Word: brokering
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Under the plan, a homeowner who wants to move or trade up can sell his house to a real estate broker or builder for an agreed price. The broker or builder can get an FHA-insured loan equal to this price if he puts an amount equal to 15% of the unpaid mortgage in escrow until a new buyer is found. If no buyer is found within 18 months, the 15% will be applied to reducing the mortgage. The plan thus frees the homeowner for a quick turnover of houses, frees the broker or builder of strain while he holds...
...worse. Reason: nobody knew how many fresh green millions Dictator Fulgencio Batista and his cronies had lugged away. Castro's government ordered all $500 and $1,000 bills turned in, decreed that visitors to Cuba could bring in no more than 50 pesos. Canadian Gold Broker John Rogers (TIME, Dec. 15) reported that a Miami lawyer, acting for a pro-Batista exile, was trying to convert 500,000 pesos into bullion...
...gotta use a little finesse," said one steel broker. "One summer three men I was tryin' to sell came to town. One man was quite elderly; I was afraid he'd die on me ... When I made my move I found out the two younger men were the ones that had to be impressed. I told the girls there's to be no mention of money ... to just get ga-ga over the whole thing . . . The young men's egos were at the bursting point. The deal netted me about...
Windfall from the West. Gene Black played the role of honest broker so well that at week's end the first representatives of Her Majesty's government to appear in Egypt since 1957 descended on Cairo. In the final moments of bargaining, the British did not get quite all they hoped for. Knowing how much his own back-bench Tories hate Nasser, Prime Minister Harold Macmillan had pressed hard to get Nasser first to release two Britons jailed as spies at the time of the Suez affair. In the end, Macmillan decided that he could not hold...
Secret Life. Craft's affinity for modern music dates back almost as far as he can remember. Born in Kingston. N.Y., into a nonmusical family (his father is a real estate broker), he became a boy soprano in the Episcopal Church when he was six. By the time he was packed off to New York Military Academy at Cornwall, 13-year-old Robert Craft was an avid collector of modern scores, spent his spare time poring over copies of Stravinsky's Sacre du Printemps and Les Noces, Schoenberg's Pierrot Lunaire. Says Craft: "I led a kind...