Word: escrowed
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Dates: during 2000-2009
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Carolina Lombardi, a senior attorney at Legal Services of Greater Miami Inc., which is mentoring some of the UM fellows, says foreclosure defendants also need attorneys to help them fend off all-too-frequent lender practices like exorbitant escrow claims. "Homeowners who have lawyers are usually prevailing in those cases," says Lombardi. But she notes that unless homeowners fall below the federal poverty line ($22,000 for a family of four), they can't qualify for the free legal aid that agencies like hers provide. That creates an obstacle for most foreclosure defendants, who aren't impoverished but because...
...that veteran Miami realtors like Alex Shay insist would set recovery back. "It's out of line," says Shay, who recently took Alvarez to task on his Miami Real Estate blog. "A lot of people here are barely holding on to their properties, using credit-card advances to pay escrow, and the county wants them to take another hit?" (See TIME's photo-essay "Miami: Paradise Lost...
...Unlike a traditional senior gift, in which graduating seniors donate to the University to support programs at the College such as financial aid, this new fund would remain in escrow until either Harvard complied with the students’ demands or the United Nations lifted its call for divestiture...
Nigel Knight, a 45-year-old carpenter from Britain, started a lobbying group of disgruntled Dubai investors after he found that the developer of a villa he'd bought near the future site of Dubailand wasn't depositing his money in an escrow account reserved for construction funds. He suspects his and other investors' money was used by the developer to purchase more land and then sell off more units without ever starting construction at a single site. "It seems to be some kind of Ponzi scheme," he says. What's worse, he then discovered that the company may have...
...began disbursing funds to student groups, while trying to define its larger mission: whether to advocate for political issues, or to push for better student life. Some council members concentrated on initiatives like the Endowment for Divestiture, a fund for students who wanted their senior gift contribution held in escrow until Harvard divested from Apartheid South Africa. Closer to home, the UC honored teachers with the new Levenson Awards and convinced Harvard to maintain summer storage. One of the UC’s sweetest successes during its first five years was the addition of chocolate milk to dining hall machines...