Word: mortgagees
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Dates: during 1980-1989
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From the consumer's point of view, a money-market fund is not much different from a checking account. In most cases people can write checks for the monthly mortgage payment or for college tuition against an account, though some funds require that checks be written for a minimum...
Another continuing problem that may flare up is the Cambridge option plan, a low-interest mortgage subsidy provided to faculty who agree to live in the city. The mortgages contain a clause allowing Harvard to purchase the homes should owners sell them, and some city councilors have pointed out in...
Inflated real estate prices and mortgage rates averaging 16½% have denied hundreds of thousands of Americans the chance to buy their own homes. But some of them may now benefit from the rediscovery of a cost-cutting device that dates back to colonial days: land lease. Rather than buying...
In Los Angeles, 80% of home buyers already use these and other nontraditional methods of financing. In one typical case, David and Jackie Bernstein paid for a new $295,000 home in Los Angeles with $1 10,000 earned on their old house, a first mortgage of $94,000 at...
Financing a new home has now become so complex that the Chicago Association of Commerce and Industry and a local builder, United Development Co., have installed the "Home-Finance Answerline." A confused home buyer in the Chicago area can phone, and a mortgage expert will demystify the latest wrinkle in...