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Wednesday, Oct. 15, 2008
Welcome to the Brewery Credit Union, the best place to save and borrow,” says a friendly, recorded voice at the other end of the line. At a time when banks and other lenders look more like wards of the state than the venerated institutions they once were, it’s difficult to imagine that anyone is still happy to lend money, or...
Wednesday, July 16, 2008
The Brewery Credit Union (BCU) has more on tap than just savings accounts and car loans. The community not-for-profit organization also offers BEER, or Brewery Employees Education Resource programs. “We always strive to educate,” said Marketing Director Mikal Gilliat, who noted that BCU’s seminars for first-time home...
Tuesday, July 15, 2008
A surge in foreclosures is forcing more and more lenders to take a loss on bad loans, giving rise to a speculative real estate practice known as a “short sale.” Here’s how it works: When a homeowner is threatened with foreclosure, an investor negotiates with the lender to buy the mortgage for far less than is owed. If all goes well, the sellers reduce their debt, the buyer gets a good deal and the bank removes a non-producing asset from its books. But, in practice, the deals are notoriously difficult to piece together and too often are oversold as a way to turn a fast buck.

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