Word: loan
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Dates: during 1990-1999
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...come? The Federal Reserve figures that the stated interest rate on home-equity loans averages 9.5%, only half the usual credit-card rate. Even more important, the interest on a home-equity loan can usually be deducted on the borrower's tax return. In some cases, these tax savings can bring the effective interest rate below 5%. Now, that's a deal...
...April 23, 1996, under the letterhead of the venerable bank founded by Alexander Hamilton, which made the very first loan to the fledgling U.S. government in the 1780s, Gurfinkel wrote a fulsome letter to Federal Reserve chairman Alan Greenspan, urging the Fed to let Inkombank open a representative office in the U.S. Never mind that 14 months earlier some of the bank's largest shareholders had filed suit charging Inkombank with outright theft of $40 million in capital. Or that just a month before, the Russian central bank had issued a harshly critical audit of Inkombank irregularities...
According to the Boston Globe, last month the RTH secured a $48 million loan from the Massachusetts Housing Finance Agency to pay off the outstanding mortgage, plus an additional $18 million in equity financing to purchase the property...
...Princeton's financial aid increases triggered other increases at Stanford, Yale, MIT and eventually Harvard, which last fall initiated a massive financial aid increase designed to give back $2,000 in loan or work-study debt in exchange for grants...
...RATE MORTGAGE With mortgage rates now topping 8%, potential home-buyers might consider the unconventional: a 30-year loan with an adjustable rate that can only go down. Two lenders, www.servicesavers.com and, in Western states, www.citylinemortgage.com will notify you when prevailing rates drop as little as a quarter to half a point and will automatically refinance your mortgage. Sticking with the same company means you pay no hefty closing costs. You shell out for the new title at City Line and pay zip at Service Savers. To qualify, you need to make timely mortgage payments...