Word: loans
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Dates: during 2000-2009
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...President's logic is at odds with the initial premise of TARP, which was sold to Congress as a loan program that would be mostly paid back to the Treasury, where its proceeds would be used to pay down the deficit. "The $700 billion program we have proposed is not a spending program," former Treasury Secretary Hank Paulson explained before Congress in September 2008. It didn't take long for Republicans to take that position. "The stimulus money clearly was a spending bill. TARP was a loan - a loan to be paid back. And we know that a number...
Employers and career experts see a growing problem in American society - an abundance of college graduates, many burdened with tuition-loan debt, heading into the work world with a degree that doesn't mean much anymore...
Still, the larger storm cloud on the horizon is the state of the jobs market. While an out-of-work person can, theoretically, get a loan modification under HAMP by proving eligibility for at least nine months of unemployment benefits, the program isn't set up to handle someone without a regular stream of income...
Elsewhere, such programs do exist. For example, under the auspices of the Homeowners' Emergency Mortgage Assistance Program, Pennsylvania will loan its residents up to $60,000 over the course of two years in the wake of life events such as losing a job or falling severely ill. While a homeowner is out of work, the loan is interest-free. In exchange, the state gains a legal right to the house should the owner default on his or her mortgage...
...many as the year before. The social norm that in previous eras would have prevented people from simply walking away from their homes seems to be eroding - but HAMP puts a low priority on reducing the overall amount a person owes. In fact, among permanent modifications, the average loan amount as compared to home price (the so-called loan-to-value ratio) has increased...