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...being discussed to do that is for the government to share in the losses if a servicer modifies a mortgage and the homeowner again defaults. Another approach is to directly help pay for the cost of the modification. The servicer might cut monthly payments to 38% of a borrower's income with the government chipping in to reduce the payment down to 31%, a presumably more sustainable level. Either tactic could be combined with a direct payment - $1,000 is a figure often mentioned - to incentivize servicers to do the heavy lifting of figuring out how much a homeowner...

Author: /time Magazine | Title: Will Loan Modifications Lift the Housing Market? | 2/6/2009 | See Source »

...means to an end, establishing contacts as a way to bolster social capital, Clarel simply valued the authenticity of true human connection. Whether it was an impassioned conversation in his Thayer entryway or a hard-fought pickup soccer game across the river, Clarel lived to experience people and share his love of life with others...

Author: By Ben Purkert | Title: Remembering Clarel | 2/6/2009 | See Source »

...loss of Clarel is tragic for everyone who knew him. In his honor, a Facebook group has been created to pay tribute to his memory, serving as a platform for all friends and classmates to share a story or remembrance. I would urge all such individuals to join and actively take part. However, to pay tribute to Clarel, this alone is not sufficient...

Author: By Ben Purkert | Title: Remembering Clarel | 2/6/2009 | See Source »

...insurgents throughout southern Iraq and Baghdad. Still, Allawi's party is pleased with its performance: Iraqi National Accord-backed candidates drew 13.9% of the votes to finish second in the northern Salahuddin province, while in Baghdad they won 8.6% of the initial returns - in fourth place, although with a share of the vote close to that of the lists that finished second and third...

Author: /time Magazine | Title: Iraq Vote: Al-Maliki Wins Big, But Secularists Encouraged | 2/5/2009 | See Source »

...Iraq's provincial councils will elect regional governors and focus largely on local issues, but the election results were seen as an important bellwether of the national trend for next year's parliamentary election. And Allawi is hoping to grow his party's share of the vote. "We need to see a departure from sectarianism and the establishment of national institutions for this country, starting from the judiciary, and have, really, the rule of law prevail in Iraq," says Allawi, complaining of corruption and a Shi'ite sectarian bias in the al-Maliki government. But as much as Allawi...

Author: /time Magazine | Title: Iraq Vote: Al-Maliki Wins Big, But Secularists Encouraged | 2/5/2009 | See Source »

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