Assets frozen in Clay over $40,000 land seizure judgment
In Clay County West Virginia a court freeze on town assets follows a 40 000 judgment for landowners who condemned property for a sewer pump station. Landowners led by Murray Smith say the town owes 21 000 plus interest from 1970. The case halts town funds as James Wilson Douglas seeks enforcement.
MENTIONED IN THIS ARTICLE
Clay
W.va
Clay County
Smith
James Wilson Douglas
Clay County Bank
Norman Wilson
Increasing Equity Mortgage Moves Into Mainstream Finance
The Associated Press reports a new hybrid loan named the increasing equity mortgage or AEM. It starts like a fixed 30 year loan but payments rise 3 4 or 5 percent annually for 11 to 13 years, paying down principal faster. Investors welcome the shorter term and predictable raises while buyers gain budgeting clarity though monthly payments can jump. Guaranty Savings in Milwaukee markets the AEM amid forecasts of below conventional rates but slower adoption.
MENTIONED IN THIS ARTICLE
Associated Press
Federal Home Loan Mortgage Corp
Salomon Brothers
Merrill Lynch
Pierce, Fenner & Smith
Jim Kendall
U.S. League of Savings Associations
Kendall
Guaranty Savings
Savings and Loan Association
Milwaukee
Guaranty
Sandine
AEM
Sandine and
Levy
Also Mentioned on This Page
Wallace
Montgomery
Ala
Alabama
Saturday
George Wallace
George McMillan
Alabama Democratic Conference
State
Democratic Party
McMillan
House
Joe McCorquodale
Birmingham
Richard Arrington
Gerald J. Levy
Charles Sandine
Stone É Homes
Nvi
F.B. Rogers
Lotus
Bradley
Sale
Joseph
Stano
Bernat
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