Word: hope
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What really irks Butler and her neighbors is that they were led to expect much more. They saw hope last summer when Congress passed the Housing and Economic Recovery Act, which seemed to promise housing relief for hundreds of thousands of homeowners like Butler via mortgage-restructuring aid. But for reasons no one in Washington has adequately explained, that part of the bill never really materialized. What foreclosure-ravaged communities got instead were slivers of a $4 billion Neighborhood Stabilization Program (NSP) fund to buy and refurbish already foreclosed homes. The city of Miami Gardens received $6.8 million, enough...
Many lenders, the advocates hope, are starting to see not just the financial benefits of avoiding foreclosure - the avoidance of legal costs, boarding-up and lawn-mowing fees, sharply discounted resale values - but the p.r. dividends as well. That may be especially true for companies like the San Francisco-based Wells Fargo. Though it didn't indulge in as much subprime lending as other banks, it is being sued by the city of Baltimore for allegedly using predatory lending practices in predominantly African-American neighborhoods that have since seen inordinately high foreclosure rates. (Wells Fargo denies the accusation...
...provide coverage for their workers and mechanisms that would allow purchasers of health care to join groups for a better deal on their coverage. But unlike the Clinton plan, it would not require Americans who now have coverage (and are satisfied with it) to give that up. Its supporters hope that will make the proposal an easier sell to voters. (See pictures of Hillary Clinton on the campaign trail...
...Navy officials say the Sirius Star, whose maiden voyage was in March, had planned to avoid the Gulf of Aden altogether and sail around South Africa's Cape of Good Hope rather than through the Suez Canal Zone, as its owners wanted to avoid an encounter with the pirates. "That is the scary part," says Cyrus Mody, manager at the International Maritime Bureau. "What exactly are [the pirates] doing so far south? If they are thinking of expanding their sphere of operations to such great distance, it is going to become an absolutely humongous task to get this thing under...
...Still, the new program, however small, has given some beleaguered workers hope. Aomori's Nakayama says, "Yes, it costs us more money and more work, but it's worthwhile." The world will be watching...