Word: homely
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Dates: during 2000-2009
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Like the broader Making Home Affordable housing plan announced on Feb. 18, the new effort involves the Federal Government giving money to mortgage servicers when they lower homeowners' monthly payments - and to borrowers when they keep paying their loans and don't walk away...
More housing help is on the way. The Obama Administration rolled out a batch of plans on Tuesday, including one designed to make it easier for struggling homeowners to catch a break on second mortgages like home-equity loans...
While precise numbers don't exist, anecdote suggests that not too many loans have been restructured under the original plan thus far. That, though, could largely be due to the complexity of implementing a new process - it takes time to change computer systems and train employees. CitiMortgage, the home-lending arm of Citigroup, officially began offering government-backed modifications only on April...
During the first few weeks of April, Chase Home Finance, a division of JPMorgan Chase, initiated some 10,000 loan modifications under the Adminstration's plan. But that was at a slightly lower pace than what the company had been doing under its own modification initiatives. "We're working through the pipeline and we're going to see much bigger numbers," says spokesman Tom Kelly. "There are financial incentives now for everyone to make this work. It's a huge stride over what was already out there...
...Crimson also finished sixth overall in the Central Series Five regatta, hosted by MIT on the Charles River on Saturday. Sophomore skipper Colin Santangelo teamed up with freshman crew Ruth Engle to take home runner-up honors in the B division of the competition, earning four victories out of their 11 contests...