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Mortgage Burning
Mortgage burning was a twentieth-century custom in the United States of America (U.S.A.) that was the ritual incineration of the promissory note (mortgage) upon satisfaction of the payment schedule by the purchaser (debtor, or mortgagor). This ritual was performed to celebrate the release of the debtor from further payment obligations, and was sometimes accompanied by a party in which extended family and friends were invited. History Home mortgage burnings, and particularly home mortgage burning parties, are nearly unheard of in the present-day United States for a few reasons. In the early twenty-first century, due to increased mobility and other factors, few U.S. mortgagees continue to make payments until the end of the mortgage term. Typically, mortgagees sell or refinance a property before the end of the mortgage term, using proceeds of the sale or new loan to extinguish the debt used to acquire the property. Also, starting in the late twentieth century and until the housing bub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Late 2000s Recession
The Great Recession was a period of marked general decline, i.e. a recession, observed in national economies globally that occurred from late 2007 into 2009. The scale and timing of the recession varied from country to country (see map). At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression. One result was a serious disruption of normal international relations. The causes of the Great Recession include a combination of vulnerabilities that developed in the financial system, along with a series of triggering events that began with the bursting of the United States housing bubble in 2005–2012. When housing prices fell and homeowners began to abandon their mortgages, the value of mortgage-backed securities held by investment banks declined in 2007–2008, causing several to collapse or be bailed out in September 2008. This 2007–2008 phase was called the subprime mortgage crisis. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nonprofit Organization
A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in contrast with an entity that operates as a business aiming to generate a Profit (accounting), profit for its owners. A nonprofit is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties. An array of organizations are nonprofit, including some political organizations, schools, business associations, churches, social clubs, and consumer cooperatives. Nonprofit entities may seek approval from governments to be Tax exemption, tax-exempt, and some may also qualify to receive tax-deductible contributions, but an entity may incorporate as a nonprofit entity without securing tax-exempt status. Key aspects of nonprofits are accountability, trustworth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
All In The Family
''All in the Family'' is an American television sitcom that aired on CBS for nine seasons, from January 12, 1971, to April 8, 1979. Afterwards, it was continued with the spin-off series '' Archie Bunker's Place'', which picked up where ''All in the Family'' had ended and ran for four more seasons through 1983. Based on the British sitcom ''Till Death Us Do Part'', ''All in the Family'' was produced by Norman Lear and Bud Yorkin. It starred Carroll O'Connor, Jean Stapleton, Sally Struthers, and Rob Reiner. The show revolves around the life of a working-class man and his family. The show broke ground in its depiction of issues previously considered unsuitable for a US network television comedy, such as racism, antisemitism, infidelity, homosexuality, women's liberation, rape, religion, miscarriages, abortion, breast cancer, the Vietnam War, menopause, and impotence. Through depicting these controversial issues, the series became arguably one of television's most influential comed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eight Is Enough
''Eight Is Enough'' is an American television comedy-drama series that ran on ABC from March 15, 1977, until May 23, 1981. The show was modeled on the life of syndicated newspaper columnist Tom Braden, a real-life parent with eight children, who wrote a book by the same title. Synopsis The show centers on a Sacramento, California, family with eight children (from oldest to youngest: David, Mary, Joanie, Susan, Nancy, Elizabeth, Tommy, and Nicholas). The father, Tom Bradford (based on Tom Braden, played by Dick Van Patten), is a newspaper columnist for the fictional ''Sacramento Register''. His wife, Joan (based on Joan Braden, played by Diana Hyland), was a homemaker and took care of the children. In early 1977, Hyland was diagnosed with breast cancer, undergoing a mastectomy when doctors discovered the cancer had metastasized. During filming her health suddenly deteriorated, and Hyland died on March 27, 1977, having filmed only four episodes. As a result, her character's death w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
M*A*S*H (TV Series)
''M*A*S*H'' (an acronym for Mobile Army Surgical Hospital) is an American war comedy-drama television series that aired on CBS from September 17, 1972 to February 28, 1983. It was developed by Larry Gelbart as the first original spin-off series adapted from the 1970 feature film ''M*A*S*H'', which, in turn, was based on Richard Hooker's 1968 novel '' MASH: A Novel About Three Army Doctors''. The series, which was produced with 20th Century Fox Television for CBS, follows a team of doctors and support staff stationed at the "4077th Mobile Army Surgical Hospital" in Uijeongbu, South Korea, during the Korean War (1950–53). The ensemble cast originally featured Alan Alda and Wayne Rogers as surgeons Benjamin "Hawkeye" Pierce and "Trapper" John McIntyre, the protagonists of the show, joined by Larry Linville as surgeon Frank Burns, Loretta Swit as head nurse Margaret "Hot Lips" Houlihan, McLean Stevenson as company commander Henry Blake, Gary Burghoff as company clerk Walter "Radar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreclosure
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan. Formally, a mortgage lender (mortgagee), or other lienholder, obtains a termination of a mortgage borrower (mortgagor)'s equitable right of redemption, either by court order or by operation of law (after following a specific statutory procedure). Usually a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt. While this equitable right exists, it is a cloud on title and the lender cannot be sure that they can repossess the property. Therefore, through the process of foreclosure, the lender seeks to immediately ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Traditions Involving Fire
A tradition is a belief or behavior (folk custom) passed down within a group or society with symbolic meaning or special significance with origins in the past. A component of cultural expressions and folklore, common examples include holidays or impractical but socially meaningful clothes (like lawyers' wigs or military officers' spurs), but the idea has also been applied to social norms such as greetings. Traditions can persist and evolve for thousands of years—the word ''tradition'' itself derives from the Latin ''tradere'' literally meaning to transmit, to hand over, to give for safekeeping. While it is commonly assumed that traditions have an ancient history, many traditions have been invented on purpose, whether that be political or cultural, over short periods of time. Various academic disciplines also use the word in a variety of ways. The phrase "according to tradition", or "by tradition", usually means that whatever information follows is known only by oral tradition ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
