Word: low-interest
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Though the so-called agreement still has not been published, by all accounts it is indeed tenuous. The Europeans promised to study alternatives to Soviet-supplied energy and new restrictions on high-technology exports and low-interest loans to the Soviet bloc. They did not commit themselves to any specific acts. Washington, finally aware that the sanctions were dividing the alliance without stopping the building of the pipeline, needed an excuse to end them. Said one senior adviser to Reagan: "We didn't want cheese. We just wanted out of the trap." The French attempt to deny Reagan even...
Foreclosed Mortgages. With interest rates at historic highs, millions of Americans have managed to buy homes only because the seller was able to pass along a version of the old low-interest mortgage with the house. But now it appears that assumable mortgages may go the way of the butler's pantry. By a 6-to-2 vote, the court upheld a 1976 federal regulation allowing federally chartered savings and loan associations to enforce due-on-sale clauses in their lending agreements. Such clauses require a seller to pay off his mortgage rather than transfer...
...about one-third of the big-city mayors are Republicans, criticism of the Reagan budget cuts as they affect cities was unusually bipartisan. The mayors gave a standing ovation to Rohatyn. He urged the Administration to revive the New Deal's old Reconstruction Finance Corporation to provide longterm, low-interest federal loans so that cities, which find interest rates too high to float municipal bonds, can rebuild bridges, sewers, firehouses, schools and deteriorating mass-transit systems. Such a revolving fund, he said, should "selfdestruct in ten years" as revitalized cities repay the loans. The Rev. Jesse Jackson, founder...
Similar questions of "straining" students have taken on startling urgency in the controversy over guaranteed student loans, in some ways the program most victimized by Reagan's proposals. The president's budget called for a rules change that would bar all graduate and professional students from the low-interest loan program, while increasing starting fees and interest rates and tightening eligibility requirements for undergraduates. While some lobbyists and legislators considered the proposal so ridiculous as to be Reagan's "red herring," a bargaining chip in case outraged interest groups wanted to bargain, others viewed it as a threat touching...
...doesn 't make sense that we should be subsidizing their continued military buildup with low-interest credit...