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April 2, 2006 | Debra J. Miller, Debra J. Miller teaches English at a private high school in Los Angeles.
On Thursday, Oct. 8, 1964, the day the police decided my mother killed my father, I woke up late, the kind of late that snaps you out of your favorite dream, the one where you're wrapped in the arms of your favorite TV hunk--mine was Dr. Kildare--and he's just about to . . . when bang your unconscious tells you the sun is out, the lights are on all over the house and you're going to be late for school because nobody got you out of bed. We were a family of five. I was 14 and the oldest.
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BUSINESS
April 27, 2014 | Liz Weston, Money Talk
Dear Liz: I got a big tax refund this year and am trying to figure out what to do with the money. Right now I have school loans with a 4% interest rate that I do not need to make a payment on until 2024 with my current payment plan, but the amount I owe is pretty hefty and I know it's going to compound more over time. I also have a very low-interest car loan (1.9%) that will be paid off in 31/2 years. I also could put that money in the market in hopes that it will grow. I should add I am 27 years old. Any advice?
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NEWS
April 10, 2013 | By Ted Rall
A bill before the California Legislature to address soaring student loan debt would require high school students to take a personal finance class.  ALSO: Photo gallery: Ted Rall cartoons Stumbling into another Korean war Schwarzenegger: California's silent disaster Follow Ted Rall on Twitter @TedRall
BUSINESS
April 27, 2014 | By Kenneth R. Harney
WASHINGTON - Are you on the home-buying sidelines this spring because you think you won't be able to qualify for a mortgage? Do you know what sort of FICO credit scores are being accepted by lenders at the moment - they're lower than they were a year ago - and whether yours could now be good enough? You may be part of the surprisingly large crowd of folks who fear the home-loan unknown. A new national consumer survey found that 56% of potential purchasers of homes say they're out of the market because they don't want to face the possibility of rejection by lenders.
BUSINESS
July 19, 2012 | By E. Scott Reckard
The average rate on a 30-year fixed mortgage hit another new low this week, dropping to 3.53% from 3.56% last week, according to Freddie Mac's survey of what lenders are offering to well-qualified borrowers. With the Federal Reserve aggressively pushing rates down and few signs of inflation on the horizon, it was 12th time in 13 weeks that a new record was set, Freddie Mac economist Frank Nothaft said in the report Thursday morning. Freddie Mac said the 15-year fixed loan, which has been a popular part of the recent boom in refinancings, averaged 2.83%, down from 2.86% and also a new record.
ENTERTAINMENT
February 15, 2013 | By Richard Verrier
A federal judge approved a $17-million loan from two movie studios to keep the lights on at troubled Rhythm & Hues, the award-winning visual effects company that worked on the Oscar-nominated “Life of Pi.” Rhythm & Hues, based in El Segundo, on Wednesday filed for bankruptcy protection under Chapter 11 of the federal bankruptcy code after laying off 250 employees. As part of its plan to avoid liquidation, Rhythm & Hues said it secured a $17-million loan from Universal Studios and 20th Century Fox to complete work on current projects, including “R.I.P.D.” and “Percy Jackson: Sea of Monsters.” Warner Bros., which is owed $4.9 million, is not providing any financing, the company said in court filings.
CALIFORNIA | LOCAL
August 30, 2013 | By Anh Do
FBI agents arrested a Little Saigon businessman and a Westminster police officer early Friday, accusing the entrepreneur of running a loan shark operation and the officer of working as his "enforcer. " Kevin Khanh Tuan Do, who owns Do Design & Construction, allegedly worked with Anthony Duong Donner, a six-year patrol officer for the Westminster police. Donner was arrested when he showed up for work Friday. A 39-page FBI affidavit said the two lived together in Fountain Valley while masterminding illegal activities.
BUSINESS
April 5, 2009 | Stephen Glassman and Donie Vanitzian
Question: As a director and treasurer of our homeowner association board, I have a duty to inquire about the association's finances. Without my knowledge or consent, the other board directors committed our association to a loan with unfavorable terms. I have been asking a lot of questions regarding the loan agreement, but no one is giving me answers. The association's attorney informed the board, and our president affirmed, that "the board will not be liable for this loan."
SPORTS
January 7, 2014 | By Jim Peltz
Galaxy officials said Tuesday the team has acquired Brazilian forward Samuel Rosa Goncalves, known simply as Samuel, on loan from the Fluminense FC team of Brazil's Serie A. Samuel, 22, had 15 goals in 72 appearances over the last two seasons with Fluminense, across all competitions for the club based in Rio de Janeiro. Terms of the loan agreement were not disclosed. "We are pleased to add Samuel to our roster," Galaxy General Manager and Coach Bruce Arena said in a statement.
BUSINESS
February 7, 2012 | By Jerry Hirsch, Los Angeles Times
Fisker Automotive has stopped work at a former General Motors auto plant in Delaware, where it plans to build Project Nina, a family-size plug-in hybrid expected to sell for about $50,000. The Anaheim auto company laid off 26 workers at the plant and let go 40 contract employees working at its headquarters. That leaves the company with about 600 employees working on automotive development in Anaheim. The company said it "delayed work at the plant based on ongoing discussions" with the Department of Energy "regarding funding for the Project Nina program.
CALIFORNIA | LOCAL
April 25, 2014 | By Christine Mai-Duc
South Bay Assemblyman Al Muratsuchi on Friday announced a bill designed to take the financial heat off Hermosa Beach voters who are being asked to decide whether to allow oil drilling in their city for the first time in more than 80 years. The legislation would allow the city to take out a no-interest loan from the state to help pay off a $17.5-million penalty the city would face if voters in the beach town reject an oil drilling proposal. The assemblyman said he wanted Hermosa Beach residents to vote "without the gun of this financial penalty to their head.
BUSINESS
April 25, 2014 | By Tim Logan
Fewer home sales and rising interest rates have led to the nation's lowest level of mortgage lending in 14 years. Just $235 billion in home loans were started in the first three months of the year, the lowest figure recorded in a quarter since 2000, according to data from trade publication Inside Mortgage Finance. That's down nearly a quarter from the end of 2013 and more than half from the same period last year, when the housing market was heating up, especially in Southern California.
BUSINESS
April 25, 2014 | By E. Scott Reckard
The mortgage industry's output of new loans is at the lowest point in 14 years, according to estimates from a trade publication.  Inside Mortgage Finance said Thursday that even in the depths of the financial crisis, mortgage lenders were busier than during the first quarter of 2014. One factor is the end of a refinance boom as interest rates have risen well off their record lows. But though the rates are still great by historical measures, mortgages written for home purchases have been weak as well, as sales of new and previously owned homes have slowed.
BUSINESS
April 22, 2014 | By Ricardo Lopez
A new report released Tuesday by the Consumer Financial Protection Bureau is warning borrowers of a catch that is pushing private student loans into default even if the loan is in good standing.    The federal consumer agency said that borrowers complain of being blindsided when their student loans automatically default when co-signers -- usually parents or grandparents -- die or fall into bankruptcy. When this happens, lenders demand that the full amount be paid immediately.
CALIFORNIA | LOCAL
April 11, 2014 | By Anh Do
The owner of a Little Saigon lounge who federal agents say was victimized in a loan shark operation has filed a lawsuit against the Police Department in Westminster, charging that officers formed a "team" to provide muscle for the key suspect. Hanh Le said officers threatened and intimidated her, pulled her over on bogus traffic stops and showed up at her lounge unannounced, pushing her to pay her monthly installments on a high-interest loan. "My client lived with so much fear," said Mark Eisenberg, Le's attorney.
BUSINESS
April 10, 2014 | By E. Scott Reckard
Lenders were offering 30-year fixed-rate mortgages at an average of 4.34% this week compared with 4.41% a week ago, according to the widely watched survey from home finance giant Freddie Mac.  The decline in rates, reflecting a belief that overall inflation remains at bay, was also seen in 15-year fixed loans, which dropped from an average 3.47% to 3.38%. Start rates for adjustable-rate loans also fell, according to Freddie Mac. QUIZ: Test your knowledge of home lending Freddie Mac asks lenders across the nation about the terms they are offering on popular loan types to borrowers considered low risk and with 20% down payments or equivalent home equity in the case of refinance loans.
CALIFORNIA | LOCAL
June 25, 2013 | By Robert J. Lopez
The U.S. Small Business Administration is scheduled to open a disaster loan outreach center for victims of the recent Powerhouse Fire that burned more than 30,000 acres across the Angeles National Forest and high desert, officials said Tuesday evening. The center is set to open in Lake Hughes to assist people with obtaining low-interest federal disaster loans, Los Angeles County's chief executive said in a statement. The loans are available for homeowners, business owners, renters and people who operate nonprofit organizations.
CALIFORNIA | LOCAL
April 9, 2014 | By Patrick McGreevy
SACRAMENTO -- Administrators from California's two public university systems called Wednesday for the state to provide student loans to some immigrants in the country illegally to cover expenses not met with state scholarships. UC President Janet Napolitano and Sacramento State President Alexander Gonzalez said their  university systems are backing legislation creating the loan program, which will cost the state and campuses up to $9.1 million the first year. Napolitano noted that the state previously granted students in the country illegally access to state scholarships and the in-state residence rate.
BUSINESS
March 31, 2014 | By Walter Hamilton
If millennials are going to achieve financial independence, a good first step might be to stop relying on parents to cosign loans. Nearly two-thirds of millennials have needed a cosigner, usually mom and dad, when buying a car, getting a credit card or renting an apartment, according to a new report. More than one-third of parents cosigned student loans for their millennial children, according to data from Experian Consumer Services. PHOTOS: World's most expensive cities That's all well and good if millennials repay the debt themselves.
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