First, to qualify you typically need 2 years of steady employment with a stable or increasing income, a minimum credit score of 620 with no more than 2 30-day late payments over the last 2 years, no bankruptcies in the last 2 years, no foreclosures in the last 3 years, and a mortgage payment no more than about 30% of your gross pre-tax income.
Layering of risk means the borrowers courted by these lenders had multiple characteristics that would put them at high risk for default, including no down payment, no documentation of income or assets, low credit scores and second mortgage in lieu of a down payment.
Some lenders will agree to a lower, fixed-rate payment if the alternative is no payment and foreclosure.
Earlier this week, NTP co-founder Donald Stout told the press that RIM could avoid that fate if it makes one giant payment, no strings attached, for 5.7% of RIM's projected U.S. sales through the life of the contested patents, which expire in 2012.
No down payment is usually required at all and there are no monthly premiums.
The parties have reached a tentative settlement, which Mandell's attorney says involves no payment from Mandell.
The newspaper did not publish anything and no payment changed hands, the court heard.
Winfrey has promised a "no-holds-barred" interview, with no conditions and no payment made to Armstrong.
No payment will be made unless the payment from the counterparty to the trade is also ready.
In Kempton's scenario the car owners get no payment for the electricity because they are not generating it.
With professors spending so much time blogging for no payment, universities might wonder whether this detracts from their value.
These economists believe uninsured non-actors often raise health insurance by not participating, and by receiving healthcare as a matter of law with little or no payment.
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In October Allison signed the return and mailed it to the IRS. No payment accompanied it, and the IRS assessed the unpaid tax liability that it showed in November 2006.
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That Europe will kick the solution of the Greek debt crisis down the road again, with another temporary bailout payment, has no connection whatever to slowing global economies and rising inflation.
Adjustable-rate subprime mortgages originated in late 2005 and in 2006 have performed the worst, with some of them defaulting after only one or two payments (or even no payment at all).
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He asked about the annual schedule for interest payments and the broker responded with the dates from the bond, noting that no payment would be made for 12 months in the first year.
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One complaint already on the Web-site accounted the story of a customer who got duped into an exorbitantly high interest rate on his purchase when the customer service representative lied to him about whether he qualified for the "no interest, no payment" financing.
But there seem to be no clauses in the prospectuses for Greek government bonds that would trigger accelerated payment of the rest of what's owed on any particular bond in default or that would put other bonds into default: in the jargon, there are no accelerated payment or cross-default clauses.
Since they had no down payment money and poor credit scores, normal mortgage standards had to be waived.
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There is no stimulus payment or rebate check coming your way.
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According to study data, the average physician spends 50.7 months, or over four years of a 40-year career fighting malpractice claims- the majority of which produce no indemnity payment.
It is not hard to sell a house to a poor person if he needs no down payment and if the initial terms are tailored to what he can afford.
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Starbucks currently pays 4.7% of its sales to a sister company in the Netherlands, and plans to continue the payment, but will no longer use it to reduce its tax liability.
The award-winning Police Homeowner Loan Program offers police officers low-interest (4%), short-term (20 year) financing with no down payment for the purchase of rehabilitated houses in low-income, inner-city neighborhoods in Columbia.
Of course, this type of policymaking underscores the importance of making the default choice a good one (an adjustable-rate mortgage with no down payment would be an example of a bad default).
It cannot just be assumed that most people who during the housing boom bought homes with adjustable-rate mortgages, or mortgages with prepayment penalties, or mortgages that required a low or even no down payment, were fools or victims of fraud.
Not surprisingly, when asked about this payment, Hagel had no idea as to the initial source of the money just as I could not possibly tell you the origins of the actual dollars I am paid by my own employer.
For free, no extra payment necessary.
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Novy-Marx concludes with a thought experiment where he substitutes GASB accounting with an identical system where future liabilities are discounted at the muni rate (after all, the risk of non-payment to pensioners is no different, or in most case lower, than the risk to bondholders).
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