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FORECLOSURE: A legal move to acquire possession of mortgaged property when the borrower is unable to pay off the loan or make payments according to the conditions of the loan. In other words, if you can't make your house payments, the bank (or lender) can boot you out and take your house. The house can then be sold to pay off all or part of the loan. One of the more notable things about foreclosure for members of the third estate is that the rules and procedures differ from state to state. If you anticipate foreclosure activity, it might be worth your while to find out the specifics in your locale.
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NO-RESERVE BANKING A (hypothetical) method of banking in which banks keep 0 percent of their deposits in the form of bank reserves, meaning that ALL deposits are used for interest-paying loans. No-reserve banking is one of two theoretical alternatives designed to help illustrate a contrast to the fractional-reserve banking actually practiced by modern banks. The other alternative is full-reserve banking. With the no-reserve approach a bank operates as financial intermediary or broker, matching up borrowers and lenders.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a T-shirt commemorating the first day of winter or software that won't crash your computer. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"Consult not your fears, but your hopes and your dreams. Think not about your frustrations, but about your unfulfilled potential. Concern yourself not with what you tried and failed in, but with what it is still possible for you to do. " -- Pope John XXIII
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AV
Actual Value
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