Word: payments
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...estate meltdown, that's a scary thought. Recent analysis from Standard & Poor's (S&P) anticipates that a full 37.5% of such loans (dubbed option ARMs) that were written in 2007, at the height of lax lending, will eventually go bad. The kicker is that most option ARMs undergo payment spikes after five years, which means the brunt of the impact has yet to be felt. That will change in late 2010, delivering another blow to the fragile housing market just as it begins to regain strength...
...South Africa's top soccer teams, Zuma finally came clean on Wednesday that he was in fact the baby's daddy. "The matter is now between the two of us, and culturally, between the Zuma and Khoza families," he said, adding that he had made a payment of inhlawulo, a Zulu word for the compensation (traditionally a cow and goat) that a man gives a woman's family for impregnating her outside marriage. He also blasted the "harsh media exposure" on the child, saying it was "unfortunate" and "merely because of the position I occupy." "The media is in essence...
...signs that it is ready to stop interfering. After unsuccessfully backing Yanukovych in the 2004 election, the Kremlin repeatedly slammed Yushchenko for his attempts to join NATO and his support of Georgia during its 2008 war with Russia. Twice Moscow has turned off the gas to Ukraine amid payment disputes, as it repeatedly tried to throw a wrench in Ukraine's Western integration...
...travel, and a nationwide system could reduce oil use by 125 million bbl. a year. In addition, high-speed rail represents the kind of long-term infrastructure investment that will pay back for decades, just as the interstate highway system of the 1950s has. "This is a down payment on a truly national program," said Biden, who has logged more than 7,900 round trips of his own on Amtrak. "It will change the way we travel and change the way we work and live." Greens will be happy to see that...
...curb property speculation, Beijing has reintroduced a sales tax on residences resold within five years of their purchase. Earlier this month the State Council introduced a rule that requires a 40% down payment on the purchase of a second home, and on Jan. 12, China's central bank raised the reserve requirement for commercial lenders in an effort to control the torrid growth of credit after the value of new loans more than doubled last year. (See pictures of the best-selling cars in China...