Word: loans
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...frame house, where he did little but tend to his cats, watch rented movies and, in the winter, help his neighbors shovel snow. His take-home pay was usually only a few hundred dollars a week, but the week he died, he made his last regular payment on a loan extended by a friend to help him buy the Geo Metro he drove. He played the lottery regularly and once collected a $250 payout, which he talked about for weeks. A co-worker, Robert Slayton, recalls that Wells' only vice seemed to be liquor: "He got off work...
...Give And Take The E.U. said it would allow France to grant Alstom a short-term loan as part of a rescue package for the troubled engineering firm, but threatened legal action if the state takes part in a public offering for Alstom later this month...
Everyone who is in the market for a home loan is jumpy these days. Not only have rates risen sharply from midyear record lows, but they have never been more volatile. Since mid-July, the average rate on a 30-year fixed mortgage has fluctuated as much as .25% a day at least 10 times, according to the Mortgage Market Guide. That's not normal; over the two years before mid-July, rates bounced that much in a day only once...
There's another pitfall: a lock-in can be canceled if the loan processing isn't completed by the time the agreement expires. Unanticipated delays can crop up in a number of ways. For example, applicants may be slow to produce all required documents. "If you have bad credit or bad records, it's not the bank's fault," says Fresella. Sometimes, though, it is the bank's fault. Lenders bogged down with application backlogs may not be able to process paperwork quickly. Under those circumstances, lenders may offer to extend the deadline as long as 30 days. In some...
...avoid unpleasant surprises, know when your lock-in agreement expires, and keep close tabs on your application during processing. Levine was lucky: frequent calls to her loan officer eventually helped her close on the refinancing on time at the 5% rate. "You really have to fight hard to make sure your loan is refinanced or processed in time," says Levine. Eternal vigilance may be the price of a low mortgage rate...