Word: default
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...abort it when necessary. The trouble is, George W. Bush's credibility on Iraq is nonexistent. And so he has placed David Petraeus, an excellent soldier, in a position way above his pay grade. He has made Petraeus not just the arbiter of Iraq strategy but also, by default, the man who sets U.S. policy for the entire so-called war on terrorism...
Later this month, the Fed could cut interest rates, which would lower payments for those struggling to pay their adjustable-rate mortgages. The Fed has issued guidance urging loan-service companies to work with borrowers who are in danger of default...
...slightly less risky way to play foreclosures is to pounce before a house even makes it to auction. When foreclosure proceedings start, a notice of default is filed at the local courthouse and often runs in the newspaper, as well. Potential investors can also buy access to listings on web sites such as Foreclosure.com, RealtyTrac.com and ForeclosureNet.net...
...goes up for auction is to try for a short sale, a transaction in which the mortgage lender agrees to take less money that it is owed. A bank can easily spend tens of thousands of dollars to move a house through the entire foreclosure process, so as default rates soar, more are willing to negotiate with real estate agents representing a bid that's technically too low. (Short sales are becoming so commonplace that Beitler added a chapter about them in the upcoming second edition of his book.) The downside, from a buyer's perspective, is that even after...
...largely thanks, however, to the opposition's boneheaded boycott of the last parliamentary elections - as is just about every Supreme Court justice. As a result, keeping Chavez in power until 2021 (his stated goal, the 200th anniversary of Venezuelan independence) if not longer could eventually make him, by default, a kind of "democratator," a democratically elected dictator. At the very least, says Jones, "it's bound to set off some alarms about the constructs of democratic government...