Sharon Jordan (lower left) and her family (clockwise from top left: Rydell, Nikera and Anisha) are working with Bank of America and a Boston nonprofit to repurchase their duplex at its current market price — about half of the original value.
Credit Aarti Shahani / NPR
Elyse Cherry is chief executive officer of Boston Community Capital, a nonprofit that is buying homes at market value and reselling them to current homeowners at a slight mark-up, so the homeowners can actually afford payments.
There's an unfamiliar trend emerging in America's troubled housing market. Big banks are volunteering to lose money — hundreds of millions for themselves and investors — in order to save homes at risk of foreclosure. And they're doing it in record numbers.
The year closed with a new trend: In 30 percent of private loan modifications, banks are doing a principal writedown — that is, hacking away at the amount owed as far down as the current market value. They're doing it so borrowers can actually afford payments. Two years ago, that 30 percent was just at 2 percent.
A picture released by the official website of Iran's Revolutionary Guards on December 8, 2011 shows Iranian Revolutionary Guard, Brig. Gen. Amir-Ali Hajizadeh (R) looking at what Iranian officials claim is a U.S. RQ-170 Sentinel high-altitude reconnaissance drone that crashed in Iran on December 4.
Originally published on Mon December 12, 2011 6:02 pm
The United States is officially asking Iran for the return of a drone surveillance aircraft lost earlier this month.
"We have asked for it back. We'll see how the Iranians respond," President Barack Obama said during a White House news conference with Iraqi Prime Minister Nouri al-Maliki on Monday.
Secretary of State Hillary Rodham Clinton, speaking at a State Department news conference, told reporters that the U.S. had "submitted a formal request" for the craft's return, but that "given Iran's behavior to date, we do not expect them to comply."
Mitchell Zuckoff is a professor at Boston University and the author of Lost in Shangri-La.
I taught my last class of the semester the other day. Inevitably, my students — all of them journalism majors and most of them seniors — hijacked the lesson plan to vent their hopes and fears about what awaits them after graduation.
This happens every December, and each year I do my best to calm and encourage them, to let them know it's OK to be worried but it's not OK to despair. I give them what I've come to consider my pre-commencement address.
Maryland farmer Josie Johnson listens to a lecture on extending the farming season using caterpillar tunnels. The lesson was part of a conference for young farmers held in Tarrytown N.Y., in early December.
Credit Maggie Starbard / NPR
Maryland farmer Josie Johnson learns about extending the farming season by growing crops under caterpillar tunnels. The lecture was part of a conference for young farmers held in Tarrytown N.Y., in early December.
Credit All photos by Maggie Starbard / NPR
Steven "Shepsi" Eaton and Liz Moran are expecting a baby and say they hope to start their own farm soon. "[Farming] isn't to make a living," Moran says. "It's to create a certain lifestyle for myself and for the people around me".
For decades, as young people have been leaving farms behind, the average age of the American farmer has been rising. The last time the government counted farmers, in 2002, the average farmer was 55-years-old.
Iraqi Prime Minister Nouri al-Maliki shakes hands with President Obama in the Oval Office at the White House on Monday. The two leaders met as the U.S. prepares to withdraw the last of its combat troops from Iraq.
President Obama and Iraqi Prime Minister Nouri al-Maliki met at the White House on Monday and pledged to maintain strong ties after the U.S. withdraws the last of its troops, but nagging concerns remain about Iraq's security and neighboring Iran.
Denver Broncos quarterback Tim Tebow prayed in the end zone — tebowing — before the start Sunday's game against the Chicago Bears.
Credit Julie Jacobson / AP
Denver Broncos quarterback Tim Tebow bows his head on the sidelines — the gesture that's been enshrined as "tebowing" — after scoring a touchdown against the New York Jets on Nov. 17. With Tebow at the helm, the Broncos have won six in a row.
Originally published on Tue December 13, 2011 5:43 am
He's the hottest topic in sports, and now Denver Broncos quarterback Tim Tebow is a word, kind of.
The online Global Language Monitor, which professes to track what's hot in the world of words, announced today that is has declared "tebowing, the act of 'taking a knee' in prayerful reflection" during an athletic activity is now "an English language word."
It's the kind of news that parents of a premature baby would grasp at: One of the world's smallest preemies, born weighing a mere 9.8 ounces, is now a 22-year-old college student who's living a normal life.
But doctors who deal with low birth weight babies say parents shouldn't think that sort of bright future is assured.