Your English writing platform
Discover LudwigSuggestions(1)
Exact(2)
A small fraction of borrowers even took out loans as little as $200.
Because the schools stayed open, only a small fraction of borrowers were eligible for refunds.
Similar(58)
But only a small fraction of subprime borrowers will qualify for relief, and many of these borrowers will eventually face foreclosure anyway.
Thus, "super-senior" claims against subprime mortgages — that is, investments that have first dibs on whatever mortgage payments borrowers make, and were therefore supposed to pay off in full even if a sizable fraction of these borrowers defaulted on their debts — have lost a third of their market value since July.
"One discouraging problem is that only a small fraction of Countrywide borrowers will likely qualify," Professor Swire said.
But while the data showed an increase in forbearance, it also showed that only a tiny fraction of troubled borrowers are getting either a reduction in their interest rate or in their loan amount.
By law, credit unions may not charge an annual rate of more than 26.8% (around 2% a month), which is a fraction of what borrowers pay to companies such as Wonga.
Since the costs of foreclosure can eat up 25% or more of the value of a loan, the losses could be enormous if a large fraction of these borrowers walk away.
As economists from the Boston Federal Reserve have argued in early July, a large fraction of delinquent borrowers (perhaps as many as 30%) will catch up on their payments with or without help; an even larger share will default anyway after receiving a modification.Meanwhile, depressed housing markets are having little trouble making home affordable all by themselves.
That is a small fraction of the three to four million borrowers who were supposed to receive assistance under the program, which is financed by money from the $700 billion Wall Street bailout authorized in late 2008.
This was one of the so-called affordability products that let borrowers pay a fraction of what they owed in principal and interest each month.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com