Word: payments
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Under the new plan, servicers, the companies that collect mortgage checks, will be paid $1,000 every time they cut the interest rate on a loan to reduce the monthly payment to no more than 38% of a borrower's gross income. The government will split the cost of reducing the debt-to-income ratio further than that, down to 31%. Both servicers and borrowers will be paid up to $1,000 a year (for three and five years, respectively) for keeping the loan current...
...mortgage on a house which is worth only $200,000 will keep that house off the market if at all possible, to avoid having to come up with $100,000 to subsidize a sale. That house sits in limbo while the government makes the monthly mortgage payment low enough to keep it in the hands of its owner. Excess home inventory growth is artificially arrested because residences which would normally be for sale are kept off the market...
...madness of the former real-estate bubble: "Can Flip's mortgage really be possible? Even if it is (and it can't be), I doubt it can be legal. A million dollars with no down payment, for two grand a month? It's an insult to money - an insult to the value of money. No wonder the L.A. real estate market has a problem with hyperinflation: the mortgage industry is printing its own banknotes...All I know is this: there is only one conservative, sensible, educated strategy when it comes to home ownership in L.A.. I must buy immediately...
...certainly more than the cost of the defense,” Chris S. Graham, an intellectual property litigator, told The Recorder. “But it’s a very small percentage of [Facebook’s] valuation and therefore could be argued by Facebook to be a payment based on considerations other than the merits of the claims.” According to recent estimates by the Web site Silicon Alley Insider, Facebook, Inc. was valued at $4 billion. Harvard Law School Professor Phillip R. Malone ’81, the director of HLS’s Cyberlaw...
...their own budgets sag," said Don Kettl, a political science professor at the University of Pennsylvania. The bill includes $59 billion to help unemployed workers and extends aid for their health insurance. Ninety billion dollars will go toward shoring up Medicaid, $19 billion is allocated for Obama's "down payment" on modernizing health-care records - short of the $25 billion he originally envisioned - and onetime payments of $250 will be made for senior citizens, disabled veterans and disabled workers...