Word: mortgagees
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Dates: during 1980-1989
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Many families trying to keep up their living, and Christmas, standards have discovered a new ally: their home. As inflation has driven up the cost of housing, from a 1974 average of about $36,000 for a typical single-family dwelling to more than $73,000 currently, many homeowners have...
Second-mortgage financing, which once was about as respectable as borrowing money from people in dark alleys, has become a hot new growth sector in banking. An estimated $20 billion in these loans is currently on the industry's books, with some 50% of that having been added in...
Much of the money from second-mortgage financing is used by borrowers to pay off existing installment loans that might have been built up last Christmas, for example. Yet an estimated one-third of the funds goes directly into the economy as new spending. Experts believe that consumer expenditures would...
The housing industry is also being hit. With mortgage rates once again approaching 15% in many areas, buyers are simply being driven from the market. Though new construction rose slightly during October, to an annual rate of about 1.6 million housing units, most of the increase was accounted for by...
Feldman plays the role of a Trappist monk who leaves the seclusion of the monastery to raise money to pay the mortgage. Along the way he encounters an unscrupulous traveling minister (Boyle), a "hooker with a heart of gold" (Lasser), and a corrupt, power-hungry TV evangelist named Armageddon T...