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...condition to rip old houses apart, and even if he had been, the soft economy was suffocating. Having pledged his home equity as collateral, now he was forced to sell his demolition equipment at a loss. He fell behind on his mortgage payments of $1,647 per month. His son had to leave college in Virginia to attend a school near home. His mother passed away...

Author: /time Magazine | Title: House of Cards: The Faces Behind Foreclosures | 2/27/2009 | See Source »

...sell it for more than $145,000. Her debt is actually two loans, the larger of which was recently modified from an adjustable rate to a fixed-rate note at 9% interest. The second loan charges over 10%, and the two payments combined are slightly more than $1,400 per month. (Read: "How Stressed Is Your Bank...

Author: /time Magazine | Title: House of Cards: The Faces Behind Foreclosures | 2/27/2009 | See Source »

...search continues. "It takes $14 per hour for me to meet my bills," she said. "That's what I was making at Gateway when I was laid off. But no one wants to pay that much, so I will be starting lower and hoping for a raise. That's how it works. You just keep starting over." A few months back, Stevens had a lead on a customer service job with a large, venerable company. The pay wasn't great; the commute was long; gas prices were high - yet Stevens had just about concluded it was the best she could...

Author: /time Magazine | Title: House of Cards: The Faces Behind Foreclosures | 2/27/2009 | See Source »

...minutes at point guard, while freshmen Peter Swiatek and Hugh Martin have gotten their feet wet in the front court. The other first-years, Keith Wright, Peter Boehm and Oliver McNally, have also stood out.Among these freshmen, forward Wright ranks highest with both 13 starts and about seven points per game.“I think Keith has established himself. I think he’s going to be a tremendous inside, low-post player throughout his tenure here in the Ivy League,” Amaker said. “I think he?...

Author: By Alexandra E. Zimbler, CONTRIBUTING WRITER | Title: Rookies Forced Into the Lineup | 2/26/2009 | See Source »

...Still, the traders are lucky to even have jobs in a country where 4 out of 5 people are unemployed and 7 out of 10 eat one meal per day or less. Governor Gono's incessant printing of Zimbabwean dollars has deepened the country's economic woes, turning what was once the breadbasket of Africa into a financial basket case. Just last month, he unveiled a series of trillion-dollar notes. The Cato Institute estimates the country's hyperinflation, one of the worst in history, exceeds 89 sextillion percent, or roughly a doubling of prices every 24 hours. Rather than...

Author: /time Magazine | Title: 25-Min. Workweek on Zimbabwe's Stock Exchange | 2/26/2009 | See Source »

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