Word: mortgagees
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Dates: during 1980-1989
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Nor have many other home builders. From coast to coast, the housing industry is flourishing like crabgrass. The U.S. Government reported last week that sales of new homes surged by 27.4% in March, to an annual rate of 903,000, the highest level on record. In many areas, including California...
First-time buyers, though, are as eager as they come. Richard and Shirley Brownstein have spent the past three years looking for an affordable house in a Chicago suburb while they lived with their two sons, 6 and 3, in a two- bedroom apartment. When interest rates tumbled, the couple...
Many homeowners who do not want to move are besieging bankers. Since the interest on a 30-year fixed-rate mortgage now averages 9.9%, down from 13.07% a year ago, people are scrambling to refinance their existing loans. The decline in rates during the past year means that consumers have...
To underline the law's value, civil RICO proponents point to cases like that of Barney and Donna Millsaps. Six years ago, a door-to-door salesman talked them into adding a room to their home in Norfolk, Va., assuring them loan payments would amount to no more than $50...
The spotlight then shifted to Martin, whose term as vice chairman was to expire next week. Instead of deciding to seek reappointment, Martin bowed out in a brief press conference. A former mortgage-insurance-company executive, he said he wanted to return to private business. But some Fed watchers suspected...