Word: owed
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...Treasury officials say Iraq will owe $50 billion to $80 billion in bilateral foreign debt and $29 billion in war reparations to Kuwait...
...backstop Fannie Mae and Freddie Mac - the government-created, shareholder-owned corporations that buy the bulk of U.S. mortgages and repackage them as securities - can be seen as the first big step toward Treasury's taking the cleanup job out of the Fed's hands. Fannie and Freddie owe or guarantee immense quantities of debt ($5.2 trillion, or almost as much as the Federal Government owes investors) but hold only tiny capital reserves to insure against losses. With house prices down 18% nationally since mid-2006 and defaults rising, worries were growing that they might be insolvent...
...voluntary deal announced last December by Treasury Secretary Hank Paulson in which mortgage lenders agreed to freeze interest rates for certain subprime borrowers. But thanks to the Fed, high rates on adjustable-rate loans are no longer the big problem. The big problem is that 9 million U.S. homeowners owe more than their houses are worth; they're upside down, in the parlance, meaning that if foreclosures are to be slowed, the mortgages themselves must shrink...
...novella, she envisions her mother as what she could have been, a teacher and philanthropist, not the "demented" woman that war had made her. The memoir honors that potential, too. "The real Emily McVeagh was an educator, who told stories and brought me books," Lessing writes. "I owe to her, my mother, my introduction to books, reading - all that has been my life." In moments like this, Lessing sees past their tortured relationship and uses the literary gifts her mother gave her to pay, in posterity, a daughter's debt of gratitude...
...much debt ("Give the lenders back their own headaches"), there are plenty of people eager to hear more. For $695, the Walk Away Plan promises to extract homeowners from the agony of mortgages they can no longer afford or from houses now worth far less than the amount they owe. A similarly named outfit called You Walk Away croons on its website, "Before you know it, you will have this behind you and a fresh start!" Walking away is a popular phrase these days among real estate pros and ex--mortgage brokers looking to capitalize on slumping home prices...