Much of that money went into dodgy mortgages to buy overvalued houses, and the financial crisis was the result.
Provisions of the deal allowed that the monthly notes could be converted into longer-term mortgages at 6% interest, and secured by the ships themselves.
Since then, Excon has branched out into mortgages, insurance, and real estate development services.
Look no further into mortgages if you're not sure.
Many people foolishly entered into mortgages they could not afford.
"I say let's look into" adjustable-rate mortgages, she said.
We went back into mortgages a year later, with new policies that would keep us from repeating our mistakes.
The deal allowed for some of the nine installments to be converted into longer-term notes or mortgages.
New money is going into utilities, mortgages and finance instead of into industrial companies.
Since 1985, at least 29 banks across the country have put more than $500 million into inner-city mortgages.