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...condition to rip old houses apart, and even if he had been, the soft economy was suffocating. Having pledged his home equity as collateral, now he was forced to sell his demolition equipment at a loss. He fell behind on his mortgage payments of $1,647 per month. His son had to leave college in Virginia to attend a school near home. His mother passed away...
...math looks like this, he said: his pension pays him a little more than $50,000 before taxes, out of which he pays about $800 a month for medical insurance. That leaves some $2,400 a month, he said, for his mortgage and other expenses. He has about $15,000 in unpaid medical bills and a similar amount in missed house payments. He has no significant assets; his home equity is gone. Houses comparable to his in more desirable neighborhoods are selling for less than the amount he owes to the Bank of New York Mellon. As the saying goes...
...more than $145,000. Her debt is actually two loans, the larger of which was recently modified from an adjustable rate to a fixed-rate note at 9% interest. The second loan charges over 10%, and the two payments combined are slightly more than $1,400 per month. (Read: "How Stressed Is Your Bank...
...official: the economy really is in free fall. When the bean counters at the Commerce Department's Bureau of Economic Analysis (BEA) came out a month ago with their first estimate of how fast the economy shrank in the fourth quarter, economists and investors were surprised that it was at a mere 3.8% annual rate. Now, after some of the updates and revisions that are a standard part of the process of estimating gross domestic product (GDP), the number is a far more dramatic...
...band or release more than one album in a year. Pollard, though, makes the activity of people like Ryan Adams and Dan Bejar look part-time. Having released his last solo album on January 20th, Pollard, the former leader of 90s legends Guided By Voices, is back just a month later with “The Planets are Blasted,” the second album by his band Boston Spaceships.Pollard’s habit of writing and releasing songs in such a rapid manner could easily lead one to expect the quality of his output to suffer...