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ENTERTAINMENT
February 17, 2012 | BY ROGER MOORE, McClatchy-Tribune News Service
THE NEW anime version of "The Borrowers," titled "The Secret World of Arrietty" by screenwriter and "supervisor" Hayao Miyazaki, has the fascination with household "spirits," the same lovely color palette and attention to detail for which his films are famous. But Miyazaki, director of "Ponyo," "Spirited Away" and "My Neighbor Totoro," didn't direct this Studio Ghibli film. Perhaps that is why it lacks his sense of whimsy, that little sprinkling of Miyazaki magic that the Japanese director has given his best work over the decades.
BUSINESS
January 24, 2006 | By Jeff Gelles INQUIRER STAFF WRITER
Hundreds of thousands of consumers who borrowed money from Ameriquest Mortgage or its sister companies may be eligible for a share of nearly $300 million in restitution for what state officials contend were unfair, deceptive or predatory practices in loans to borrowers with shaky credit. Under a settlement announced yesterday by officials from 49 states where the companies do business - every state but Virginia - the companies agreed to compensate borrowers and to alter lending practices, but they did not acknowledge any wrongdoing.
NEWS
February 7, 2001 | by Dede Myers
Predatory lenders prey on the low-income, elderly and minority populations who are often our most vulnerable citizens. No one wants to see people lose their savings or their homes. The question is what should be done. The Federal Reserve System has been struggling for several years to protect unsophisticated borrowers from abusive lending without eliminating subprime lending that serves consumers who have blemishes on their credit records and are therefore considered higher-risk borrowers.
BUSINESS
March 29, 2013 | By Clea Benson, Bloomberg News
Seriously delinquent borrowers with mortgages owned or backed by Fannie Mae and Freddie Mac will be able to reduce their monthly payments without documenting their finances, under a program introduced by the companies' regulator. The move announced Wednesday by the Federal Housing Finance Agency is designed to stem losses to the U.S.-owned firms by letting borrowers at least 90 days behind on their mortgages bypass the administrative hurdles of typical loan modifications. Homeowners may still give their lenders documents on financial hardships, and can save more money by doing so, the agency said.
NEWS
January 8, 1991 | By Pam Belluck and Vyola P. Willson, Special to The Inquirer
From the $2 million home he rented until recently in Southern California, Richard H. Rossmiller could see his Porsche, his Mercedes Benz, his MG and his two Jeep Wagoneers. He could sip from a wine collection worth several hundred thousand dollars. He could contemplate his new business venture, developing land just south of the border, in Mexico. He could also leaf through the two-inch-thick court filing in which he says he is bankrupt, that he has no valuable possessions and no way to repay the $100 million he borrowed from Hill Financial Savings Association in Red Hill, Montgomery County, Pa., which failed in October 1989.
REAL_ESTATE
June 24, 1990 | By H. Jane Lehman, Special to The Inquirer
Home buying in the 1990s may prove as complicated as ever, but real estate lenders are trying to simplify things for borrowers, industry officials say. Convenience and ease of use will prompt changes in everything from loan forms to appraisals to home refinancing, officials told a recent meeting of the National Association of Real Estate Editors. Mortgage disclosure forms, for example, offer little enticement for borrowers to read them. These are the pages of fine print given out at loan settlements that explain how and when payments on adjustable-rate mortgages change, or detail other terms of the mortgage.
NEWS
August 9, 2013
Washington legislators don't seem to agree on much anymore, but they recently found common cause in a bill that stands to benefit consumers. The House and Senate voted overwhelmingly for legislation to tighten controls on reverse mortgages, which homeowners over 62 can use to supplement their retirement incomes. The legislation would help ensure that borrowers can actually afford the loans. It would also cap the level of borrowing and help prevent the popular, federally insured program from going bust.
BUSINESS
June 30, 1989 | By Andrea Knox, Inquirer Staff Writer Inquirer staff writer Richard Burke contributed to this article
A Texas mortgage company accused two years ago of reneging on its agreements with borrowers and charging them higher interest rates has agreed to make restitution to 28 Pennsylvania consumers, the Pennsylvania Attorney General's Office said yesterday. Lomas Mortgage USA of Dallas has already paid the borrowers $87,384 and has agreed to contact 60 other borrowers and offer them cash settlements if they were not granted the mortgage rate quoted to them when they applied, according to Daniel R. Goodemote, attorney in charge of the Erie office of the state Bureau of Consumer Protection.
BUSINESS
December 19, 2010 | By Alan J. Heavens, Inquirer Real Estate Writer
Today's home buyers appear to be unwilling to comparison-shop for just the right mortgage, despite having to navigate a still-roiling real estate market. At least, that's what LendingTree.com found in an online survey of 1,317 homeowners conducted in September by Harris Interactive Inc. Survey results showed that, although 96 percent of those responding said they compared prices when shopping for anything, 40 percent obtained just a single quote before settling on a mortgage. By contrast, consumers researched an average of 3.1 models before buying a computer, LendingTree said.
NEWS
February 23, 1992 | By Marc Freeman, SPECIAL TO THE INQUIRER
When a patron of the Grundy Memorial Library in Bristol Borough took out a videocassette of the movie classic The Ten Commandments for a two-day rental last year, that person wound up violating the biblical commandment "Thou shalt not steal" by failing to return it. But library officials are willing to let the borrower repent, no questions asked and no fine, by returning the tape this week. Grundy Library is offering the amnesty program in conjunction with its move to a computerized catalogue system.
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NEWS
November 4, 2015 | By Kristen A. Graham, Inquirer Staff Writer
Two weeks ago, the School Reform Commission warned that without a state budget it would be forced to borrow hundreds of millions of dollars just to keep schools open through the end of December. On Monday, it did just that, authorizing the borrowing of $250 million and shifting $40 million from its capital funds to pay for everyday costs. In all, if the Philadelphia School District needs to use all of the funds now allowed, the state budget stalemate will cost the district $2.5 million in interest and fees.
NEWS
October 23, 2015 | BY SOLOMON LEACH, Daily News Staff Writer leachs@phillynews.com, 215-854-5903
THE PHILADELPHIA School District will be forced to borrow millions of dollars to meet payroll through the end of the year because of the state budget impasse, officials said yesterday. With no end in sight to the stalemate between Gov. Wolf and Republican lawmakers in Harrisburg, the cash-strapped district - by far Pennsylvania's largest - is seeking a short-term loan to pay administrators, teachers and staff through December, according to spokesman Fernando Gallard. The size of the loan is unclear, Gallard said, as the district is still negotiating with lenders to determine its capacity to borrow.
NEWS
October 23, 2015 | By Kristen A. Graham, Inquirer Staff Writer
Close to broke, the Philadelphia School District will soon have to borrow money to make payroll through the end of the year, officials confirmed Wednesday. The School Reform Commission is to meet in coming days to authorize temporary borrowing that will allow the district to function until a state budget stalemate is resolved. Superintendent William R. Hite Jr. said that if there was no Pennsylvania budget by the end of the calendar year, he could not keep schools open even with the temporary borrowing.
ENTERTAINMENT
August 15, 2015 | By Tirdad Derakhshani, Inquirer Staff Writer
We hear so much about the uneasy relationship across the Israeli-Palestinian divide that we tend to forget that fully 20 percent of Israeli citizens are Arab. What does it mean to be an Israeli Arab (or Arab Israeli)? Is that an identity - or a recipe for inner discord? These are just some of the tantalizing questions raised in the Israeli import A Borrowed Identity , an extraordinary coming-of-age story about Eyad, a Palestinian boy from a small village who grows up to become a cosmopolitan Israeli.
NEWS
July 29, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
Financial decisions can have consequences that outlive the people who make them. In the case of three women, two in South Philadelphia and one in Delaware County, the decision to take out a reverse mortgage - a special kind of loan that allows borrowers 62 and older to convert a portion of their home's equity into cash - has made their lives a nightmare. All three were younger than their spouses and not yet 62, which meant they did not qualify for these mortgages and could not be co-borrowers.
REAL_ESTATE
June 21, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
Based on what readers have been telling me since 2009, the federal government's Making Home Affordable Program - better known by the acronyms HAMP and HARP - hasn't been all it could be. In HAMP, qualified borrowers seek to have their mortgage payments modified so they can afford them. HARP does the same thing through refinancing qualified loans. It has been a while since I wrote about these programs, unveiled in February 2009 by the Obama administration in an attempt to keep millions of borrowers from losing their homes through foreclosure.
NEWS
June 17, 2015
AS CLERGY, our lives revolve around the religious calendars. For our Jewish brothers and sisters, September's Yom Kippur is a time of quiet reflection and atonement, followed by the celebration of Rosh Hashanah, the Jewish New Year. Christians follow the familiar rhythms of the liturgical calendar, celebrating Christmas every December and Easter every spring. And nearly every spring for the last three years, clergy from across Pennsylvania sent urgent pleas to Harrisburg to stop predatory payday lenders who are seeking permission to charge usurious, triple-digit interest rates in the Keystone State.
REAL_ESTATE
May 17, 2015 | By Jack Guttentag, For The Inquirer
Question: Lenders made bad loans during the years prior to the financial crisis because the loans could be sold as securities to unwary investors. Would most mortgage borrowers be better off if there were no secondary market in which to sell mortgages? Answer: Some might, but most would not. Largely because of secondary markets, a knowledgeable and creditworthy home buyer in the United States pays a rate only modestly higher than that charged to the U.S. government. The rate spread between home mortgages and government bonds is lower in the U.S. than anywhere else in the world, with the possible exception of the U.K. and Denmark, which also have secondary mortgage markets.
BUSINESS
March 22, 2015 | By Harold Brubaker, Inquirer Staff Writer
Borgata Hotel Casino & Spa sued Friday to block Atlantic City from borrowing $43 million in the bond market to repay a state loan due March 31. The lawsuit, filed in Superior Court in Atlantic County, claims that the borrowing plan, endorsed by Atlantic City Council on March 4, violates a September ordinance allowing the city to borrow up to $140 million to pay property-tax refunds, such as $88.25 million owed to Borgata. The Borgata lawsuit came just days before the city's emergency manager, appointed Jan. 22 by Gov. Christie, is expected to issue recommendations on stabilizing Atlantic City's finances, and it sets up a three-way fight among the state, the city, and Borgata, Atlantic City's most successful casino.
BUSINESS
February 5, 2015 | By Harold Brubaker, Inquirer Staff Writer
ATLANTIC CITY - Atlantic City borrowed $12 million from Bank of America Merrill Lynch to refinance a note that was due Tuesday, Mayor Don Guardian said. The loan helped the city clear its first significant financial hurdle since Gov. Christie appointed an emergency manager last month, a move that made lenders wary of lending to the city. The new loan, which came in just in time to help repay a $12.8 million note, has a six-month term and a high annual interest rate of 5 percent, costing the city $300,000, Guardian said.
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