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...Whatever the cause, the result is a system packed with pain for any homeowner looking for help. By the summer of 2008, Charles and Jennifer Lively knew they were going to start having trouble with the mortgage on their home in the Boise, Idaho, area, since Charles's paycheck (he works in plumbing, tied to new construction) had taken a major hit. They called their lender and were told there was nothing to do until they missed a payment. Eventually, the couple did and applied for a modification four different times but kept getting turned down. They desperately asked...

Author: /time Magazine | Title: Why the Banks Aren't Modifying Home Loans | 7/30/2009 | See Source »

While today's summer office jobs bear scant resemblance to the long-term apprenticeships of the Middle Ages, both share the same purpose: jump-starting an ambitious new worker's career. In the trade guilds of 11th century England, a worker would actually pay to learn alongside a "master" who would teach him a skill like printmaking. Apprenticeships could last several years and would start as early as age 16. In many cases, the apprentice was dependent upon the master for food, clothing and a place to live, though this idea eventually disappeared. As the Industrial Revolution of the 18th...

Author: /time Magazine | Title: Interns | 7/30/2009 | See Source »

Today's interns are not limited to summer jobs at their local businesses. Some programs provide dorm housing in cities like New York and Washington (or even Cape Town or Paris), allowing students from around the country to work for the nation's biggest companies (although not necessarily with a bigger paycheck). Many popular cities even have Facebook groups devoted to providing social outings and networking opportunities for the thousands of interns who descend each summer...

Author: /time Magazine | Title: Interns | 7/30/2009 | See Source »

...explore career options, doing so now comes with a price. Some experts argue that internships punish those who might decide later than age 18 what they want to do with their life. More important, they can favor wealthier students, who can afford to not make any money during the summer, over the less privileged. Still, with pressure increasing on students to find work, the clamor for internships is only growing. To land that first job, career advisers now say, applicants should have two or more internships under their belt. Anyone who takes a summer to simply explore might...

Author: /time Magazine | Title: Interns | 7/30/2009 | See Source »

...decades, the French have relished any opportunity to mock Americans for their supposed childish Yankee puritanism when it comes to matters of sex. These days, though, France is experiencing its own blush of youthful prudishness as an entire generation of younger French women says "Non, merci," to the summer tradition of topless sunbathing...

Author: /time Magazine | Title: In France, a New Generation of Women Says Non to Nude Sunbathing | 7/30/2009 | See Source »

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