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...housing stimulus funds may not be enough to deal with what Hunter says are more troubles set to crash on the market next year. That is when soaring interest rates are triggered, affecting borrowers in real estate hot spots-turned-problem areas such as Florida and California who signed up for negative amortization loans. A clause in many of those loans calls for them to be reset if the home's value drops a certain percentage below the loan's amount. "There quite easily could be a doubling of a monthly payment," he says...

Author: /time Magazine | Title: Local Help for Besieged Homeowners | 8/15/2008 | See Source »

...trying to play catch-up with his tough talk, but reversing the impact of the Russian offensive will require a lot more than stitching up a bloodied Georgia and casting Russia out of the G-8 or boycotting the 2014 Winter Olympics. (Thursday's announcement of a deal between the U.S. and Poland to station missile interceptors on Russia's doorstep over increasingly bellicose objections from Moscow may have been timed to signal resolve in the face of Russian aggression, but that plan was in the works long before the Georgia showdown and is unlikely to have any effect...

Author: /time Magazine | Title: The Georgia Crisis: A Blow to NATO | 8/15/2008 | See Source »

...senior official from the late Benazir Bhutto's Pakistan People's Party said the coalition was prepared to hand Musharraf a deal. "We've said he can have what he wants - his house, his security," said the official, who has been negotiating with the Musharraf camp. Former Prime Minister Nawaz Sharif, the junior coalition partner, had earlier dismissed all talk of a "safe passage" but now appears to be considering the proposal...

Author: /time Magazine | Title: Musharraf's Very Long Goodbye | 8/15/2008 | See Source »

...Musharraf manages to secure a deal, many believe he should take it without hesitation. "The time has come for the military leadership to go and have a quiet word with Mr. Musharraf," wrote political analyst Shafqat Mahmood in an op-ed column in the News. "If the price for his quick departure is a safe passage, it should be given. The nation must now move...

Author: /time Magazine | Title: Musharraf's Very Long Goodbye | 8/15/2008 | See Source »

...Despite the events in Georgia over the past week, it was business as usual between the U.S. and Russia on the Western front. The Bush Administration on Thursday signed a deal with Poland to build a missile-interceptor base there, despite bitter opposition from Moscow, which sees the plan as aimed at blunting its own nuclear deterrent - a charge the Pentagon dismisses. But in light of Russia's heavy-handed action in Georgia and the missed signals and conflicting reports surrounding it, this may not be the most auspicious moment to further enrage the neighborhood bully by deploying a dubious...

Author: /time Magazine | Title: Gates Dials Down Russia Rhetoric | 8/14/2008 | See Source »

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