Terrified Homeowner Faces $200,000 Bill At Age 100

Tuesday, June 12, 2012 Terrified Homeowner Faces $200,000 Bill At Age 100 If 76-year-old Gloria Schrager lives to be 100, she will get the worst birthday present ever: a bill from JPMorgan Chase for $199,052. Schrager was behind on her mortgage payments and in danger of losing her Orlando home to foreclosure when she accepted a modification plan from Chase that made her monthly payments much more affordable. But the Peruvian immigrant feels like the house she has lived in since 1985 isn't really hers anymore. Rather than forgiving a portion of her debt as she requested, Chase modified her loan so that most of her principal would be due in one gigantic balloon payment at the end of the loan's term. The Eurozone Crisis Explainer That Will Finally Make You Care Jamie Dimon's Prepared Testimony: 'We Have Let A Lot Of People Down' Why The MF Global Honchos Can't Be Charged Veteran Banker: Pundits Missing The Real Point Of JPMorgan's Loss Here's How Much Reform Will Increase Spending On Health Care BLOG POSTS Larry Magid: Apple and Google 3D Mapping More Gimmicky Than Practical What you see looks very cool, but I can only think of a few practical applications. For the most part, what you want when using a mapping program is accurate turn-by-turn directions, traffic data and real-time updates on how many more miles you have to drive and when you're likely to arrive. Francisco J. Sanchez: Why Exports are Working for Latino Businesses The competition facing a business is no longer just across the street: it's across borders and overseas and exporting is a key to our economic growth. As Under Secretary for International Trade, I believe that Latino businesses are well-positioned to help lead this effort. Trita Parsi: Europe's Unique Opportunity to Act The nuclear talks in Baghdad between Iran and the Permanent members of the UN Security Council plus Germany (P5+1) failed to produce a breakthrough. The bad news is that time is running out. Michael Casey: One Man's Escape From Debt-Collection Hell (Excerpt) "I'm not a religious person," Joe Bonadio told me, "but it is as if Satan said, 'I want to be on earth,' and God asked him, 'What are you going to be?' And he said, 'I'm going to be a bank.' " Janet Tavakoli: Hedge Fund Managers: Sex Talk and Prostitutes Some hedge fund managers feel they are above appearances, if not the law. Some investors believe prostitution isn't a big deal, too. But there's a large cohort of investors that won't go near a hedge fund manager with a reputation for using prostitutes.

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