Word: payment
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...business, expected to double to $70 billion this year (see chart). They are thus gaining rapidly on another method of borrowing against the American home, standard second mortgages, which are likely to be worth $130 billion in 1987. The conventional second mortgage tends to be a short-term, fixed-payment plan for a set amount, based on the value of a home that remains after deducting its first mortgage. But home-equity loans are different: they allow owners to put up their homes as collateral to open variable-rate, revolving-credit accounts good for up to 80% of the equity...
...fewer than 300, which would eliminate the SEC reporting requirements that apply to a public company. Management proposed to do this by declaring a reverse stock split of one share for every 1,000 shares. Anyone holding fewer than 1,000 shares would have to accept a cash payment of $41 a share, and that would whittle the total number of stockholders to below the magic 300 level...
...earlier this year, she faced a supply-side problem: a pending divorce had left her with little to spend and nothing to trade in. Inkley, a Chesterfield, Mo., interior-design coordinator, solved her dilemma by signing a four-year auto lease that avoided the hefty down payment a normal car loan would have required. Cost of the lease: $239.04 a month. She drove home in a new white Honda CRX complete with automatic transmission, air conditioning and AM-FM radio...
...month he figures a conventional auto loan would cost him. Tom and Dede Spencer of Kirkwood, Mo., a suburb of St. Louis, decided to lease their 1987 Dodge Caravan for $367.50 a month. They can spend the money they would otherwise use for a car down payment for new carpeting and the delivery-room bills for their new baby...
...behest of her former landlord, Makeup Artist Steven Roth, 28, who was convicted of assault last December; in New York City. Roth, upset by Hanson's refusal to date him and by her demand that he return her $850 apartment deposit, had promised Bowman and Norman an apartment as payment for their crime. All three men face up to 15 years in prison...