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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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CENTRAL PLANNING A system of extensive central government control of an economy, including organizing production and making allocation decisions. This was the popular method of allocating resources and answering the three basic questions of allocation under communism and socialism economic systems of the Soviet Union, China, and others during the 1950s, 1960s, and 1970s.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel hoping to buy either a computer that can play music and burn CDs or a T-shirt commemorating last Friday (you know why). Be on the lookout for crowded shopping malls.
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This isn't me! What am I?
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"Advice is like snow ‚ the softer it falls, the longer it dwells upon and the deeper it sinks into the mind. " -- Samuel Taylor Coleridge, poet
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RCPC
Regional Check Processing Center
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