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...Furthermore, new research suggests that a key assumption made in creating monetary incentives for loan modifications - that economic self-interest would make firms eager to modify loans - may be wrong. Economists at MIT and the Federal Reserve banks of Boston and Atlanta have found that about 30% of borrowers who become seriously delinquent on their payments later catch up. A big deal has been made of the redefault rate - the high number of borrowers who wind up missing even modified payments - but the new finding about the large percentage of loans that "self-cure" indicates that servicers might actually...

Author: /time Magazine | Title: Why the Banks Aren't Modifying Home Loans | 7/30/2009 | See Source »

Gates and other Americans eager to see rapid progress in Afghanistan need to know that turning the situation around - even with added troops and money - will require "lasting strategic patience," says Cordesman. Even then, they may want to recalibrate their expectations. "Many aspects of the progress required can only move at an Afghan pace," Cordesman writes, "and must be achieved on Afghan terms." But the question of whether America has the patience to maintain its commitment on such an extended time frame is precisely what has Gates worried...

Author: /time Magazine | Title: Lowering Expectations for the War in Afghanistan | 7/24/2009 | See Source »

...attorney and former Jackson spokesman, says investigators are moving appropriately meticulously in this high-profile environment. "This is a long process," he says. "No one is going to cut any corners on this." He says he has spoken to Jackson family members who are "following this closely. They are eager but satisfied so far." As far as the look into Murray's office, Oxman says he believes the DEA was searching for something specific and "significant. This was not a fishing expedition." (Read "How Medicated Was Michael Jackson...

Author: /time Magazine | Title: Possible Jackson Manslaughter Inquiry | 7/23/2009 | See Source »

...zone. Now, there are more jobs than people in Kutch, and every child can dream of holding a real government or corporate job, if only they go to school. Thus, no matter the unbearable heat, the demands of the farm at home, or the long distances, 140 kids are eager to learn in English in what was formerly one of the most rural areas of the country...

Author: By Ravi N. Mulani | Title: Time for School | 7/23/2009 | See Source »

...recently appeared as part of a Daily Show segment that treated the paper as a comical anachronism. How do you respond to those who seem eager for newspapers to die out? Tommy Giglio, CHICAGO...

Author: /time Magazine | Title: 10 Questions for Bill Keller | 7/20/2009 | See Source »

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