Word: lender
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Dates: during 1980-1989
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...inflates prices whether the borrower wins the painting or not: like a gambler with chips on house credit, he will bid it up. Prefinancing by the auction house artificially creates a floor, whereas a dealer who states a price sets a ceiling. And then, if the borrower defaults, the lender gets back the painting, writes off the unpaid part of the loan against tax, and can resell the work at its new inflated price...
Before I left for college my first year, my parents bade me heed the advice of Polonius, one of the wise fools in Shakespeare's Hamlet. As his son, Laertes, prepares to leave for France, Polonius leaves him with two pieces of wisdom, "Neither a borrower nor a lender be," and "to thine own self be true...
...equity sharing. A private investor put up $22,950 for their down payment, and a local firm called CoEquity, which pioneered such deals in the area, provided $12,200. The Petrees invested $10,000 and now make $2,220 in monthly payments, including $1,872 to the mortgage lender, $229 to the investor and the rest to CoEquity. The investor, typically a wealthy individual, can claim 50% of the profits when the home is sold. "It's not a cheap way of going," concedes Rick Petree, 25. "But it's a way of getting into a house...
Merchant of Venice, The: A COMEDY by William SHAKESPEARE. The most memorable CHARACTER is SHYLOCK, a greedy money lender who demands from the title character "a POUND OF FLESH" as payment for a DEBT...
...repo men are working overtime. Paul Lamoureux, a Detroit repossessor, is now pulling in 120 cars a month, compared with 80 a year ago. General Motors Acceptance Corp., the biggest U.S. auto lender, repossessed 2.1% of its customers' cars in the nine months ending Sept. 30, which was 25% more than during all of 1987. One reason for the upsurge in bad loans is that auto lenders have gone after riskier customers, among them first-time car buyers and recent college graduates. Another problem is the longer term of today's auto loans: typically 48 or 60 months, instead...