LOS ANGELES — Four major subprime lenders promised to give a break to California homeowners who cannot afford escalating mortgage payments, under a plan announced this week by the lenders and Gov. Arnold Schwarzenegger.
Countrywide, GMAC, Litton and HomeEq — which collectively service more than one quarter of subprime loans to people with poor credit — agreed to maintain the initial, lower interest rate for some subprime borrowers whose rates are scheduled to jump significantly higher.
To qualify, borrowers must occupy their homes, have made their payments on time and prove they cannot afford payments with the higher interest rate.
Arkansas: Airliner stuck in mud
An American Eagle airliner carrying 59 passengers ran off a taxiway at Little Rock National Airport and became mired in mud, but no one was injured, airport officials said. The Bombardier CRJ-700 was preparing to leave for Dallas-Fort Worth International Airport on Wednesday night when it slid off the pavement, an airline spokeswoman said. Heavy rain was partly to blame, she said. Passengers were put on another flight.
Wyoming: Snowmobile challenge
Six conservation groups will challenge the National Park Service’s decision to continue allowing snowmobiles in Yellowstone and Grand Teton national parks. The groups said Wednesday they would seek a court review of the decision. A court review means a court would re-examine the case to ensure it complies with the law. The groups announced their plans a day after the Park Service issued a final decision to allow 540 snowmobiles per day in Yellowstone. One average, about 280 snowmobiles have entered Yellowstone a day in the last three years.
New York: Murder rate tumbles
New York City is on track to have fewer than 500 murders in 2007, the lowest amount in a 12-month period in more than 40 years, according to a published report Thursday. There were 428 murders recorded as of Sunday — 412 killings and 16 crime victims who died from injuries suffered years ago, The New York Times reported. The city’s homicide rate reached an all-time high of 2,245 in 1990, making it the so-called murder capital of the nation.
Michigan: Video game lawsuit
The Romantics have filed a federal lawsuit against Activision Inc., the maker of “Guitar Hero,” saying the popular video game infringes on the band’s rights by featuring a soundalike recording of its 1980 hit “What I Like About You.” The lawsuit was filed Tuesday in U.S. District Court in Detroit. The song is one of about 30 songs featured on “Guitar Hero Encore: Rocks the ’80s.” The band also is seeking an injunction that could take the best-selling game off store shelves.
Protection for gender identity
Michigan Gov. Jennifer Granholm has issued an order that bars discrimination against state workers based on their “gender identity or expression,” which protects the rights of those who behave, dress or identify as members of the opposite sex. The order, which Granholm signed Wednesday, adds gender identity to a list of other prohibited grounds for discrimination that includes religion, race, color, national origin, age, sex, sexual orientation, height, weight, marital status, politics, disability or genetic information.
Britain: Third Heathrow runway
The British government set out proposals Thursday to add a third runway and a sixth terminal at Heathrow, one of the world’s busiest airports. The transportation secretary said the expansion was needed to aid economic growth and that the expansion would meet tough environmental standards. “Heathrow supports 170,000 jobs, billions of pounds of British exports and is our main gateway to the global economy. But for too long it has operated at nearly full capacity, with relatively minor problems causing severe delays to passengers,” she said.
France: Air France-KLM profits
Air France-KLM, the world’s largest airline by revenue, said Thursday that second-quarter profit almost doubled thanks to strong demand on long-haul routes to Asia and the Americas. Chief Executive Jean-Cyril Spinetta said “robust global growth” in the quarter fed passenger traffic growth, which he sees no signs of abating despite the crisis in financial markets. Net profit for the quarter that ended Sept. 30 rose 97 percent to $1.09 billion. The network of the Franco-Dutch airline, which has hubs in Amsterdam and Paris, “remains a major advantage,” he said.
Switzerland: Rift Valley Fever
An outbreak of Rift Valley Fever in Sudan has killed 164 people, the World Health Organization said Thursday. Rift Valley Fever is normally a mild disease in humans with a fatality rate of around one percent. But in patients who develop the hemorrhagic fever form, the fatality rate is around 50 percent, according to the U.N. health agency. More than 221 people caught the virus over the last two weeks, bringing the total number of cases to 451, including those who died. Most of the cases occurred in White Nile, Sinnar, and Gezira states in eastern Sudan, WHO said.
From Herald news services
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