Word: buyer
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...sales growth, however, has come from catering to the frugal car buyer. Detroit has also rolled out a new generation of so-called muscle cars for those who want high performance and are willing to pay for it. Earlier cars that had lots of vroom were immortalized by Beach Boys songs of the 1960s, but they went out of production largely because of tough Government fuel-economy and pollution regulations. Now some automakers have produced models that get respectable gas mileage but can still accelerate from 0 to 60 m.p.h. in 7 sec. Some of the hottest sellers: the Ford...
...weeks ago, the Democratic-controlled House voted 349 to 55 for a $1 billion bill that would pay home buyers up to six percentage points of mortgage interest rates on new houses. The bill would cover mortgages of up to $90,000; the maximum yearly income of eligible buyers would range from $19,000 to $55,000, depending on the region. The Senate Appropriations Committee last week approved its own bill authorizing $1 billion a year in subsidies for five years. This version would pay as much as 4% of mortgages up to $77,600 for eligible buyers earning...
Since the bank legally owns the securities during the period covered by the deal, it can use them to create a so-called reverse repo with a third party, and that party can do the same with yet a fourth buyer. The firm buying the securities from the bank speculates that it will be able to sell them for more than it paid...
...wind up involving dozens middlemen, the interest that the U.S. Treasury pays regularly on the certificates always goes back to the original owner of the note or bond. Whenever the Treasury sends out interest checks to the holders of its securities, that amount is paid by each repo buyer back to the preceding seller in the chain...
This has been the fate of the SAM, or shared appreciation mortgage. This program lowers the interest rates to, say, 12%, but gives the seller of the house a share of the profit that is presumably made when the home is eventually sold by the new buyer. Many sellers, however, do not like the idea of leaving their money tied up in someone else's home, especially now that the go-go years of real estate prices appear to be over...