Word: payment
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...banks in France, Britain, Luxembourg, Uruguay, Panama and the Bahamas. Using the CDs as collateral, BCCI then issued phony loans for slightly smaller amounts to the agents' Panamanian account. Once again, the agents gave the Colombians signed blank checks drawn against the account. BCCI collected the CDs as "payment" for the loans, pocketing the difference in the amounts as a commission...
LEVITTOWN, N.Y.--Democratic presidential nominee Gov. Michael S. Dukakis, bidding for the support of young middle class voters, proposed yesterday allowing first-time home buyers to use up to $10,000 of their IRAs for a down payment...
...heart of the story are runaway real estate prices and a younger generation that was unable to climb aboard before housing became so hard to afford. It would cost Peggy almost $38,000 for a down payment on a median- price house in Los Angeles, something she could not manage at her present savings rate for about 40 years. As it is, she pays $500 a month in rent, almost three times as much as her father's initial mortgage payments...
...member of the Inland Boatmen's Union, just like his father. He works as a deckhand, making $11 an hour with full medical, dental and pension benefits. During his last full year in that work, he cleared $27,000 and saved $8,000, nearly enough for a down payment on a small house. The problem is that his company, United Towing, has just gone the way of dozens of other harbor companies: it has busted Billy's union by hiring maritime workers from Louisiana at a cheaper wage. Billy is suddenly out of a job. A year later...
...life, and went into business for himself as a gardener. His income has ranged between $10,000 and $20,000. Last year Billy bought a house in a rural area for $43,000, a purchase made possible by his father's financial aid: Bob put up the down payment of $11,000. Billy too is looking for a job on the waterfront, where the $11 hourly wage and full benefits will go a lot further toward supporting his four children. But such jobs are so scarce, he says, that "you've got to stand in line three days just...