官方APP下载:英语全能特训(微信小程序版,支持苹果手机、安卓手机)
创办于2003年
UNSV记不住?那就记中文谐音“忧安思危”吧!
  Slow and Steady Wins the Race!
UNSV英语学习频道 - Slow and steady wins the race!
公众微信服务号
英语全能特训(微信公众服务号)
UNSV英语学习频道淘宝网店
客服短信:18913948480
客服邮箱:web@unsv.com
初级VIP会员
全站英语学习资料下载。
¥98元/12个月

ECONOMICS REPORT - Helping Subprime Borrowers: Too Little? Too Much?

阅读次数:


VIP会员专享下载:(非VIP会员无权下载!如果想下载,但还不是VIP会员,请点此订购
下载方式:使用鼠标右键(注意是鼠标右键!)点击下面的MP3音频/MP4视频链接,然后选择“另存为…”。
MP3节目录音 MP3节目录音  PDF节目文稿 PDF节目文稿 
文章正文
同步字幕

This is the VOA Special English Economics Report.

Imagine that you want to buy a house but are not sure you could meet the monthly payments. Your credit history is considered subprime -- not good enough for the lowest interest rates available.

A home in foreclosure
A home in foreclosure

But a broker who finds lenders for homebuyers offers you a deal. A loan with payments low enough to fit your budget. After two or three years, however, your payments will go up, possibly thirty percent or more. Do you accept?

In the United States, an estimated two million subprime adjustable-rate mortgages are expected to reset higher in the next two years. These loans make up about seven percent of all mortgages. But now many of the owners are in danger of losing their homes because of rising payments.

Last week, President Bush announced a plan to help some people with subprime loan troubles. Treasury Secretary Henry Paulson brought together a new private alliance called HOPE NOW. He and other government officials met with lenders, loan servicers, investors and others to work out terms of the plan.

The goal is to help families keep their homes -- and help avoid further injury to the already weak housing market. Lenders generally do not want to be in the business of selling houses reclaimed through foreclosure.

The White House says as many as one million two hundred thousand homeowners could receive assistance under the plan. They could be helped in one of three ways, depending on their situation.

One way is by refinancing an existing loan into a new private mortgage. Another is by moving their mortgage into a loan secured by the Federal Housing Administration. And the third way is by freezing their current interest rate for five years.

The plan is only for loans that were started between January of two thousand five and July of this year and that have not reset already. Borrowers must be living in the home and facing a payment increase of ten percent or more.

Democrats in Congress say the plan does not do enough to protect homeowners. Yet some critics say it does too much, helping people who borrowed more than they should have.

Not only that, subprime loans were sold to investors worldwide as mortgage-related securities. Some investors could go to court to try to stop the loans from being renegotiated. But with the current troubles in the housing and credit markets, they may have to settle for whatever they can get.

And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember.

网友的学习评论(0条):
版权所有©2003-2019 南京通享科技有限公司,保留所有权利。未经书面许可,严禁转载本站内容,违者追究法律责任。 互联网经营ICP证:苏B2-20120186
网站备案:苏公网安备 32010202011039号苏ICP备05000269号-1中国工业和信息化部网站备案查询
广播台