Word: mortgagee
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Interest rates are falling to historic lows yet again, making it harder for safety-minded investors to find decent yields. But there's a windfall in this trend for homeowners--and the overall economy. Believe it or not, it's time to refinance again. Even if you took out a...
Right now, they have raised about a quarter of a million dollars—just about enough to cover the interest on the mortgage.
According to the terms of a mortgage negotiated in 2000 with the Swedenborgian national seminary, the congregation faced a bill of $2 million to be paid in full by the end of this month—or they would risk losing their chapel.
But recent developments—chief among them a six-month extension on the mortgage deadline—have given the chapel’s congregation new hope.
Stymied in their efforts to sell the site, the seminary hammered out a mortgage contract with the Cambridge congregation.