Newsom announces bank mortgage loan grace period after wildfires
California Governor Gavin Newsom (D) announced Saturday that five major banks have committed to giving homeowners affected by the wildfires a 90-day moratorium on mortgage payments. The financial institution has agreed not to report these payments to the credit bureaus. For customers whose buildings were damaged by fire, the company will waive mortgage-related late fees […]
Biden finalizes major loan to EV-maker Rivian days before Trump’s inauguration
The Biden administration closed on a huge loan to electric vehicle (EV) maker Rivian just days before President-elect Donald Trump takes office. of $6.57 billion loan The company will finance an electric vehicle factory in Georgia that currently specializes in luxury cars, where it will produce SUVs and crossovers. In a press release, the Department […]
Biden’s Green Loan Office Offers Up A Staggering $22 Billion In Admin’s Final Hours
The Biden administration's Green Lending Agency has loaned nearly $23 billion to utilities for green energy development and other projects during the final years of the administration. Department of Energy (DOE) Loan Program Office (LPO) announced Provided a total of $22.9 billion in loans to dozens of utilities across the country to “modernize” their power […]
Biden Admin Ramming Through One Last Student Loan Giveaway In Its Final Days
The Biden administration announced Monday that it will forgive 150,000 more student loan debts, bringing the total number of borrowers for which the administration has extended relief to a major milestone. Despite being reprimanded by the Supreme Court in June 2023, President Joe Biden and his team continued to push for a student loan forgiveness […]
Owners of dilapidated Times Square hotel — dubbed ‘America’s filthiest’ — default on $223M loan: report
The owner of a dilapidated, long-vacant hotel nicknamed the “Black Hole of Times Square” is said to be hundreds of millions of dollars behind on loans related to the property, leaving the lender in the red. According to reports, Joseph and Mayer Chetrit are mortgaged to the Carter Hotel, an infamous mega-property at 250 West […]
Bill Cosby facing second NYC foreclosure on $17.5 million loan
Disgraced TV star Bill Cosby and his wife Camille owe a whopping $17.5 million on an Upper East Side townhouse he bought as a surprise gift for his girlfriend, according to court records and reports. That's what it means. This is the second Manhattan foreclosure in less than a month for the disgraced “America's Dad,” […]
Ukraine war briefing: IMF approves $1.1bn loan to Ukraine | Ukraine
The IMF Executive Board approved a $1.1 billion disbursement to Ukraine as part of an ongoing lending program to support the budget. Friday's approval strengthens Ukraine as Russia continues to attack it and comes just over a month after International Monetary Fund officials completed the sixth review of the existing four-year plan, worth about $15.5 […]
Biden admin announces another $4.28 billion in student loan handouts
As President Biden and Vice President Harris prepare to leave the White House, the Biden administration announced another $4.28 billion in student loan benefits. This large-scale loan benefit will result in loan forgiveness for 54,900 public servants. “Four years ago, the Biden-Harris Administration promised America's teachers, military, nurses, first responders, and other public servants that […]
US Treasury Turns Frozen Russian Assets Into $20 Billion Loan For Ukraine
The U.S. Treasury on Tuesday transferred $20 billion of a massive $50 billion G7 loan to Ukraine. The funds are channeled through a World Bank intermediary called the Financial Intermediation Fund of Ukraine Strengthening and Investment Promotion Fund (FORTIS Ukraine FIF), and are aimed at strengthening Ukraine's economic stability amid the ongoing conflict with Russia. […]
GOP Reps Demand Biden’s Green Loan Office Stop Lending Amid Lame Duck Bonanza
Republicans on the House Energy and Commerce Committee are calling on the Department of Energy's (DOE) Office of Green Technology Lending to halt lending amid the huge success of lame-duck loans. Republican Reps. Cathy McMorris Rogers (Washington State), Jeff Duncan (South Carolina), and H. Morgan Griffiths (Virginia) sent a letter to DOE Loan Program Office […]