Word: jumpings
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...worried should we be? Perhaps very, according to a chart from a recent report by Amherst Securities. The chart shows the dollar value of loans that will undergo a 10% or more jump in monthly payments, an amount that plenty of families would find unaffordable considering nearly 1 in 10 workers is out of a job. The chart has two big peaks - the first is the rush of subprime resets that peaked in late 2007 and early 2008; the second is the upcoming wave of option ARMs, which don't hit their full reset stride until 2011. By the middle...
...started at $1,260 soon rose to $1,354 and then to $2,806, more than twice the original amount. The borrower quickly defaulted. Going forward, the bigger problem is the reset that normally comes after five years. Even without negative amortization, many borrowers will see their monthly payments jump by 50% or more. According to an S&P study of loans originated in 2005, borrowers who have undergone a higher reset are nearly three times as likely to default as those who haven't. "Some of the damage has already been done," says S&P managing director Diane Westerback...
...That's why no Wall Street moneyman in his right mind would finance a new reactor. But President Obama has located an alternative financier: you. On Tuesday he announced an $8.33 billion loan guarantee for the new Vogtle reactors, the first step in the Administration's push to jump-start the nuclear construction industry. Obama also urged Congress to set aside political differences and triple the budget for nuclear loan guarantees. "On an issue that affects our economy, our security, and the future of our planet, we can't keep on being mired in the same old stale debates between...
...Finland. (Attention snowboarders: Don't hire that guy as your spokesman.) Fortunately for the boarders, other players in the game will fight for White. "You need to be able to flip yourself multiple times," says Bower, who gives White the advantage over Vonn. "It's not just one jump. It's a series of jumps, five or six in these pipes. To land cleanly and to maintain the speed that you need to do the giant double flips that they're doing, that takes an incredible amount of athleticism." (See the top 10 sports moments...
...snowboard star Lindsey Jacobellis. Although she ultimately finished a disappointing fifth, failing to make amends for her infamous gaffe at the 2006 Olympics in Turin, Italy - where she stumbled at the end of a race she was on the verge of winning because she hotdogged it on the last jump, taking silver instead of gold - at least she had no broken bones. "We were lucky that nobody was carted off in a sled," she said...