Word: paid
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Dates: during 2000-2009
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Under the original plan, mortgage servicers were paid to reduce homeowners' monthly payments to as little as 31% of gross income - but that only covered first mortgages. This seriously alarmed some investors in mortgage-related securities, since many second mortgages are owned by the same companies that service the loans. The companies were essentially getting paid to trim the amount owed to outside investors while not necessarily taking a haircut themselves...
...also have to reduce the interest rate on the second lien - to either 1% or 2%. The government will pay for half of the loss incurred by the loan owners, from the $50 billion bucket of money it had already pledged to housing-rescue programs. Mortgage servicers will be paid to make the change, and homeowners have their first-mortgage principal reduced as long as they stay current - by up to $250 a year for five years...
...Boston, the rate of home foreclosure has risen dramatically in the past three years. Faced with what seemed like no alternatives, many tenants who were foreclosed upon accepted “cash for keys” deals, in which the bank paid the occupant a small sum in return for the occupant signing away the legal right to remain in the home...
...following year in Davis' life was instructive for the fledgling politician. Then just 31, Davis announced plans to challenge Earl Hilliard Sr., the first African-American elected to Congress from Alabama since Reconstruction. Davis was largely dismissed as an upstart who hadn't paid his dues by winning a lower-tier office. Despite being hailed by the Birmingham News as a "leader for the future," Davis lost. He attributed defeat to having raised barely $100,000. The next time he ran, in 2002, Davis had become adept at raising money, benefitting from donations from American Jewish groups concerned about Hilliard...
...When the seven-year itch set in, I finally traded in my Sunbird for a 1986 Honda Accord that had earned rave reviews from a savvier journalistic colleague. In the years since - not wanting to be burned again - I've paid attention to the annual auto guide from Consumers Reports, checking to see whether Pontiacs rated better than the Honda or Toyotas I had become accustomed to buying. Didn't happen, although Pontiac had made some gains in recent years...