Word: loan
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...York Bailouts: Bad For Business Rather than reassuring stock markets, a government offer to assist U.S. mortgage lenders Freddie Mac and Fannie Mae has spooked investors, who fear that a big government loan or purchase of corporate debt could devalue their own shares. Stock prices for both companies fell sharply in August, while Freddie was forced to sell $3 billion in debt at its highest borrowing costs in a decade...
...nation's biggest student loan company, Sallie Mae, and polling firm Gallup just released the results of a survey, conducted in May, of 1,400 undergraduates and their parents about how they plan to pay for college this year. One in five parents borrowing money reported either taking out a second mortgage of more than $10,000 or charging some portion of college expenses to a credit card. In a study released earlier this summer, consumer advocate U.S. Public Interest Research Group (PIRG) found roughly a quarter of students reported billing their tuition to a credit card. Such borrowing practices...
...deciding how to pay for college, families should start by contacting their school's financial aid office. About $130 billion a year is available in scholarships and grants. The first step in borrowing money for school is to max out on low-interest government programs such as federal Stafford loans. In the past, lots of families have turned to private loans to make up the difference, with borrowers taking out about $17 billion in such loans during the 2006-2007 school year. But as credit markets dried up last spring, many private lenders either went out of business or became...
...enough to deal with what Hunter says are more troubles set to crash on the market next year. That is when soaring interest rates are triggered, affecting borrowers in real estate hot spots-turned-problem areas such as Florida and California who signed up for negative amortization loans. A clause in many of those loans calls for them to be reset if the home's value drops a certain percentage below the loan's amount. "There quite easily could be a doubling of a monthly payment," he says...
...managed to work out green financing with the help of solar company SunPower. After determining that his electricity bills and roof exposure were large enough to make him a good candidate for its solar panels, the company, based in San Jose, Calif., helped him find a 15-year loan for the $64,500 system. Yes, his $550 loan payment is more than the $300 or so he used to spend each month on electricity bills--so far, he has generated enough solar power that he doesn't need to take any juice from the grid--but after he pays...