Word: crediteers
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...surprisingly, modifications that result in stressed homeowners paying more each month have a greater chance of winding up in default or foreclosure. A recent Credit Suisse report looked at modifications made to subprime loans in the last quarter of 2007 and found that 44% of loans with increased monthly payments were more than 60 days delinquent within eight months. What had a much better shot of working: reducing interest rates and principal. Only 15% of loans that had received an interest-rate reduction and 23% in which the principal balance had been reduced were more than 60 days delinquent after...
...might be crippled by a harsh reality: plenty of homeowners are never going to be able to pay for their houses, no matter how generous the terms, because someone - the homeowner, the mortgage broker - lied about or simply ignored income and assets. Cena Valladolid, chief operating officer for Consumer Credit Counseling Service of Southern Nevada, says more than half of the homeowners who seek help from her nonprofit are living in houses they never had a realistic shot of affording. The best advice she can offer in the depressed Las Vegas real estate market is to ask the lender...
...tools created at the EFL rely on a wide variety of psychometric tests to relate cognitive and personal qualities to business success. Such technology can be useful in countries where, in the absence of credit scores or accounting histories, it is difficult for lenders to choose responsible borrowers...
...Chulalongkorn University - or the current divisions over him that have Thailand's people on the edge of violence. Sometimes said to be the most divisive political figure in Thailand's history, Thaksin remains enormously popular with the rural poor for his populist policies like cheap health care and easy credit. But the billionaire businessman is also still reviled by the urban middle class and conservatives, who view him as a corrupt authoritarian whose power and wealth posed a threat to the nation's revered monarchy...
...with so many other businesses in the current credit crunch, the undertakers face a liquidity problem. And it's not only among the state-assisted burials for the destitute that earnings are down: Many middle-class families pay for funeral services with profits from the sale of the deceased's property; with the British property market in free fall, the NAFD says families are opting for less opulent burial services. The reduction of earnings leads to cash shortages among undertakers, which means that many of them require loans to cover the expenses of welfare funerals as they wait...