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As interest rates rose from 2004 to 2006, the cost of mortgages rose and the demand for housing fell, causing property values to decline. In early 2007, as more U.S. mortgage holders began defaulting on their repayments, subprime lenders went bankrupt, culminating in April with the bankruptcy of New Century Financial.
Any instance of an interest rate being reset—either due to maturities or floating interest rate resets—is called a repricing. The date on which it occurs is called the repricing date. One reason may be maturity mismatches. For instance, suppose a company is earning 5% on an asset supporting a liability on which it is paying 3.5%.
A finance lease (also known as a capital lease or a sales lease) is a type of lease in which a finance company is typically the legal owner of the asset for the duration of the lease, while the lessee not only has operating control over the asset but also some share of the economic risks and returns from the change in the valuation of the underlying asset.
A balloon payment mortgage may have a fixed or a floating interest rate. The most common way of describing a balloon loan uses the terminology X due in Y , where X is the number of years over which the loan is amortized, and Y is the year in which the principal balance is due.
If you've hunted for apartments recently and felt like all the rents were equally high, you're not alone: Many landlords now use a single company's software—which uses an algorithm based on ...
In the law of inheritance, wills and trusts, a disclaimer of interest (also called a renunciation) is an attempt by a person to renounce their legal right to benefit from an inheritance (either under a will or through intestacy) or through a trust. "If a trustee disclaims an interest in property that otherwise would have become trust property ...
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