Word: mortgagees
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Dates: during 1980-1989
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New homeowners these days often feel that getting a mortgage is akin to getting mugged. Soaring interest rates and skyrocketing housing costs mean that fewer and fewer people can qualify for the traditional fixed-interest 30-year loan. As a result, bankers and mortgage brokers are busy devising new financing...
Graduated Payment Mortgages. These plans allow low monthly charges in the early years of the loan and then higher ones later, when the family breadwinner presumably will have a better income. The monthly payment on a $50,000 loan at 12%, for example, might be $396, or $118 lower than...
Shared Appreciation Mortgages. The New York brokerage house of Oppenheimer & Co. has promoted this arrangement, whereby the borrower receives a mortgage rate that is one-third lower than the prevailing level, for example 9% rather than 14%. But the borrower must agree to give the lender one-third of the...
Did we pay the mortgage this month?
Today the Pogrebin family is the best advertisement for Growing Up Free. Letty and Bert, sitting around the dinner table in their turn-of-the-century, oak-paneled apartment on Manhattan's West Side, look slightly abashed when they talk about their successfully egalitarian marriage. "Things have turned out...