Word: mortgagee
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For some years now, financial services have been the U.K.'s biggest industry. And, in many ways, London has become the world's leading financial center. With finance a global growth industry, this is a great strength to have. But it is a uniquely mobile industry, and one in which...
It is unfortunate, to say the least, that one of the first actions of Britain's present Prime Minister, Gordon Brown, when he became Chancellor of the Exchequer in 1997, was to remove the task of bank supervision from the Bank of England and entrust it to the agency responsible...
THE MORTGAGE BUST As more homeowners default, insurers face a rash of claims, spoiling their once sterling credit ratings
Justin Fox asked if presidents matter when it comes to the economy [Feb. 18]. In Canada unemployment is at a record low, exports are in demand, and there is no hint of a subprime-mortgage crisis or recession. This in a country with higher taxes than the U.S. and universal...
Consider a typical home that sells for $218,900. You put down 20% and get a 30-year fixed-rate mortgage at today's rate of 5.5%. Monthly principal and interest come to $994.31. Let's say that 12 months from now the same house goes for 10% less, or...