Word: lenders
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...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...
...direct intervention, confidence was maintained by the existence of safety nets and regulatory bodies created during the 1930s, including federal deposit insurance, Social Security and unemployment compensation. There was not a murmur of concern about the banking system since the public assumed, correctly, that the Government was the lender of last resort...
Multimillion-dollar cases like Conlan's are suddenly proliferating, giving the banking industry a dreaded new buzz phrase: lender liability. Gone are the days, says Victor Roy, a Louisiana banking lawyer, when "suing a bank was ! like suing the Pope." While the increase in lawsuits can be attributed in part to growing litigiousness, some bankers have themselves to blame. In the early 1980s, lenders aggressively sought new borrowers in farming and oil, pushing generous loans under the presumption that the good times would keep on rolling. But when the bottom fell out of petroleum and commodity prices, many ventures were...