News and Blogs: Wednesday, November 19, 2008

5 Money Mistakes in a Bad Economy. Here are the mistakes: continuing to use credit cards, withdrawing or taking a loan from your retirement funds, paying for college without loans, grants, or scholarships, neglecting to invest, and taking home-equity loans. Bid to Ban Sale of Obama Tickets. Tickets to presidential inaugurations have always [more...]

Date: 2008-11-19 18:00:30

Blog posts (119) | Videos (94)
 

Goldman Sachs Predicts Loan Losses Will Top $2 Trillion

Despite all the hoopla about stimulus plans and bailouts rescuing Americans’ home equity and retirement accounts, ... of $780 billion. Add in losses from commercial real estate, credit cards, auto debt and business ... on bad overseas loans that they hold. And it looks like more bad news about loan losses will be coming [more...]

Date: 2009-01-15 23:05:05

“Living beneath your means”

While most of America was busy trading home equity for a TV, RV, and SUV, I was busy renting apartments and driving an economy car ... times or bad. If you can’t stop using your credit card, get rid of it. An easy check to see ... bad it was. My father once said “I got a 21% rate on my loan, and I was glad to get it.” We may [more...]

Date: 2009-01-06 15:36:19

Need a Loan Modification? Here are Six Ways You Might Qualify

by Joshua W. Davidson Let’s face the facts, the San Diego area mortgage market and home market has had some wild declines over the past eighteen months to a few years, depending on the location. Along with other adjustment to borrowing rules, it is almost absurd for nearly all fighting to survive real estate owners to refinance their home loans into realistic specifications. Fortunately, worried homeowners still have a chance at getting their loan changed by their existing lender. [more...]

Date: 2009-09-29 19:23:47

Wasting away

Not a day goes by here without new arguments why interest rates won’t rise. They go like this: The weather’s been good since last winter ended. People are enjoying it. They play and prosper in the sun. If the snows come it will be bad. We are not ready. We will suffer. Therefore the government will not allow it to be so. Other variations, too. Like pointing to Japan where rates have stayed low for two decades. Or claiming central banks will print money, buy all the bonds, and keep rates low. [more...]

Date: 2009-09-29 01:48:24

How to Hedge Against Inflation With a Home Equity Loan

Home equity loans were a large part of the consumer credit expansion that fueled the economy for more than a decade. The housing market bubble drove up housing asset prices, but without refinancing a homeowner couldn’t spend their new found fortune unless they got a home equity line of credit. If you are unaware of the coming wave of inflation that will threaten to unravel the global financial systems, all I can say is wise up or read some of my previous articles .  If you are aware of [more...]

Date: 2009-09-29 14:00:00

Bailed Banks

The Bush-Obama strategy of throwing trillions at the banks to solve the mortgage crisis has been a failure. The banks welcome public money to remove toxic assets from their books, insured by we-the-taxpayers, as well as the hundreds of billions in direct handouts, but they’ve hardly returned the favor. They’ve used these funds to pay mega salaries and prop up stock values, choices that obviously benefit them. They needed public support, no one wanted the system to collapse. [more...]

Date: 2009-09-30 21:58:57

Home Improvement Home Equity In Disguise

Author : Melissa Kellett When you want to improve your home, the cost of materials and various expenses begin to add up to enormous sums You want to get it done all in one go, instead of spending six months or more with sand, sawdust and a stink of paint all over the house Solution, a home improvement loan It's A Long Deserved Prize You and your family deserve this treat, after waiting for a number of years The kids have grown up, but their marks on the walls, doors and ceiling are still [more...]

Date: 2009-09-26 07:31:07

Mortgage Refinance After Bankruptcy

Author : Elizabeth Grant If you are considering remortgaging your home after Bankruptcy, there are many factors to consider in the decision making process Here we discuss some of the essentials topics that will enable you to decide if releasing equity from your home is your best option Becoming bankrupt If you are in a bad debt situation and are thinking of declaring yourself bankrupt, then the first thing you should do is get legal and financial advice to make sure that this is your best [more...]

Date: 2009-09-26 22:46:33

Credit Cards After Bankruptcy: Is It Feasible?

Getting any kind of finance after going through a bankruptcy process is not an easy task. When it comes to credit cards, given that they constitute an open line of credit, there are even less chances of getting approved since the lender has little control on the repayment process and thus, the risk is greater. Yet, it is possible to obtain a credit card after bankruptcy under certain circumstances. One of the things that need to be made clear is how long after bankruptcy you are applying. [more...]

Date: 2009-09-26 20:20:28

The 7 new rules of financial security

In a world turned upside down, you must re-examine some basic assumptions. A good place to start: understanding the true nature of risk.John Maynard Keynes, the Depression-era economist who’s having quite the comeback, once quipped when he was accused of inconsistency: “When the facts change, I change my mind. What do you do, sir?”Money has long advocated the benefits of consistency in your investing and financial planning. [more...]

Date: 2009-09-29 10:57:27

Why Financing the RV Purchase Is Sensible

by Stephen Daniels Cash is king, and so, notably in these times, conserving money for emergencies and extra unanticipated expenses makes good judgment. Paying cash for the possession of an RV depletes currency that may well be desired later on. That is why financing the possession of an RV is the way to go, above all in these days of low interest rates. Using cash to get an RV turns that cash into an “illiquid investment,” not speedily on hand if and when the cash is needed. [more...]

Date: 2009-09-30 05:44:49

Foreclosure Scams You Want To Avoid

by Adam Whazzer Foreclosure is one of the worst things that can happen to a homeowner. Knowing there are scammers waiting to prey on your desperation and vulnerability makes the situation even more worrisome. Thousands have fallen prey to phony foreclosure counseling, phantom help, bait and switch, rent to buy, and bankruptcy foreclosure scams. Being able to know the telltale signs of a foreclosure rescue scam can save you the agony and suffering of becoming yet another victim. [more...]

Date: 2009-09-29 19:23:35

How To Obtain A Mortgage Loan Modification To Prevent Foreclosure

In today's economic environment, mortgage foreclosure hurts everyone. The homeowner's credit score is destroyed and, most importantly, they are forced out of their homes causing them to lose everything they put into the property. The homeowners' neighborhood loses as property values decline, crime rates go up, and the tax base evaporates. And the lenders lose because the cost of foreclosure is extremely high and they must report foreclosures as non-performing assets. [more...]

Date: 2009-09-28 15:17:38

Fixed Rate Second Mortgage

Most people who grow up in America, often think about one day having a family and settlement down in their own home. Owning your own place to call home has been an essential part of the American dream. People are often looking at different real estate properties, even when they don’t have the finances to afford it. Once you buy that first home of yours, it is feeling of accomplishment. After you own your own home, you have a new weapon to use in your finances. [more...]

Date: 2009-09-26 19:03:05

Free Consumer Credit Counseling

Most people who grow up in America, often think about one day having a family and settlement down in their own home. Owning your own place to call home has been an essential part of the American dream. People are often looking at different real estate properties, even when they don’t have the finances to afford it. Once you buy that first home of yours, it is feeling of accomplishment. After you own your own home, you have a new weapon to use in your finances. [more...]

Date: 2009-09-26 19:05:53

How Online Loan Calculators Can You Time And Money

by Dennis Shirk Do you ever feel like you know just enough about loan calculators to be dangerous? Let’s see if we can fill in some of the gaps with the latest info from loan experts. How much should your down payment be? Most experts recommend at least 20 percent. Consolidation loans also have varying repayment plans. Use the links below to determine your repayment amounts under each of the different plans. You can then see what your monthly payment would be with a consolidated loan. [more...]

Date: 2009-09-28 10:46:28

Where has the Bailout Money Gone? Good Billions After Bad

Where has the Bailout Money Gone? Good Billions After Bad Vanity Fair by Donald L. Barlett and James B. Steele As the Bush administration waned, the Treasury shoveled more than a quarter of a trillion dollars in tarp funds into the financial system—without restrictions, accountability, or even common sense. The authors reveal how much of it ended up in the wrong hands, doing the opposite of what was needed. Just inside the entrance to the U.S. [more...]

Date: 2009-09-28 06:17:36

Lenders hold the keys to housing recovery

Christian L. Redfearn is an associate professor of policy, planning and development at USC and a faculty member at the Lusk Center for Real Estate. He is currently involved in both domestic and international research projects, including Swedish housing markets, residential real estate markets in Singapore, and Los Angeles Basin Real Estate Submarket Dynamics. Insider Q&A spoke with Prof. Redfearn recently about which economic factors are keeping the market bottom at bay. [more...]

Date: 2009-09-26 09:00:20

Wall Street Breakfast: Must-Know News

CIT on the brink. Sources say CIT Group ( CIT ) is preparing a sweeping exchange offer that would eliminate 30-40% of its $30B in debt, giving bondholders new debt with a later maturity, and nearly all the equity in a restructured CIT. The plan is likely to be more attractive to bondholders with near-term debt, and some insiders say competing bondholder interests are likely to thwart any deal and send CIT to bankruptcy court. CIT -24% premarket. IMF turns optimistic. [more...]

Date: 2009-09-30 11:20:04

In The News Today

Barrick and its OTC Short of Gold Derivative Obligations: I am asked constantly how Barrick can cover all their hedges. The answer is quite simple. Barrick does not have to buy one ounce of gold. You buy your way out of hedge contracts with paper money. The simple question is what does the long side want to release the obligation in light of future possible profits on the position? What a hell of a needlessly expensive mess. [more...]

Date: 2009-09-30 19:48:55

Debt Consolidation and How to Overcome It

Debt is one of the major worry for many people. Many Americans are head to toes under debt and their numbers is on a rise. In such a scenario, debt consolidation has become a major escape route for everyone. People with multiple debts often use debt consolidation as a way of consoli dating their debts. Debt consolation is necessary not just to pay off your debts but also to help you negate bad credit that can really affect your financial situation. [more...]

Date: 2009-09-26 05:53:53

Latest Tips For Using Loan Calculators To Save Money

September 28, 2009 | By John Boone In Finance | by Ann WhittakerImagine the next time you join a discussion about simple loan payment calculators. When you start sharing the fascinating loan calculator facts below, your friends will be absolutely amazed.Financing your dream car and keeping bad credit at bay is as simple as 1-2-3. Financial institutions are increasingly becoming flexible about bad credit personal loan applications. [more...]

Date: 2009-09-28 20:24:26

Credit Card Debt Consolidation Loans will Get You out of Debt Effectively

Amazon.de Widgets Credit card debt consolidation loans will help you to regain control of your debt and avoid filing for bankruptcy. However, you must first look at ways of lowering your debt through negotiating with your creditors. If you, like so many others, are finding that the pressure caused by increasing credit card debt is pushing you towards considering filing for bankruptcy it is probably time for you to start thinking about the damage such a move would cause you.Instead, start looking [more...]

Date: 2009-09-25 15:17:26

Danish Mortgage System Rediscovered

Tyler Cowen has written a very positive review of Robert Pozen’s book about our financial crisis, Too Big To Save? How To Fix The U.S. Financial System. He seem to especially like the Danish Mortgage system. Key quotes….. The Danish model has another critical and innovative feature. Holders can retire their own mortgages by purchasing the same face amount of mortgage bonds at the prevailing market price. [more...]

Date: 2009-09-27 16:14:27

Weekly Economic Potpourri November 29, 2008

Every week there are a numerous headlines that are worthy of mentioning but I simply run out of time. Here are a few headline news reports of interest from the past week.Japan’s Factory Output Falls as Turmoil Hurts ExportsJapanese manufacturers reduced production in October and plan further cutbacks as a worsening global financial crisis weakens [more...]

Date: 2008-11-29 18:46:00

Two clubs for small mortgage banks; Freddie pushes back 10/1 changes; GMAC steps in to TBW role

  Out here in California, some in the business have been following the case of 28-yr old Garret Gililland III. Originally from the Sacramento area, he was just captured in Spain and brought back to California to face charges of a $100 million mortgage fraud ring. In yet another example of what seems to make the headlines for mortgage brokers, Gililland fled in June 2008 with at least $250,000 in cash. [more...]

Date: 2009-09-28 14:40:26

10 Facts Every American should know about Baucus Health Plan

10 FACTS EVERY AMERICAN SHOULD KNOW ABOUT SEN. BAUCUS’ COSTLY GOVERNMENT-RUN HEALTH CARE BILL GOP LEADER: “THIS PARTISAN BILL IS THE WRONG PRESCRIPTION DURING THESE TOUGH ECONOMIC TIMES “ September 23, 2009 | House Republican Leader John Boehner (R-OH) | Permalink As the Senate Finance Committee gets set to begin its second day examining Senator Max Baucus ’ (D-MT) costly government run-health care bill, House Republican Leader John Boehner (R-OH) [more...]

Date: 2009-09-27 03:00:40

Bad credit loans: civilizing bad debt condition

Credit runs in to a lives and has outcome on roughly each preference we make. Bad credit runs in a credit focus and has goods on each loan we borrow. A recent consult has shown that a single fifth of a adult race cannot validate for unchanging loans. For such a outrageous loan borrowing race there have been specific loan programmes called bad credit loans. With bad credit loans we can steal loan amounts of a likes of 5000-75,000. Repayment tenure will change from 5-25 years. [more...]

Date: 2009-09-28 15:22:42

Do Home Equity Loans for People with Bad Credit Exist?

Amazon.de Widgets If you have increasing debt problems and have a poor credit rating, you may need to look for home equity loans for people with bad credit, they are the best way to consolidate high interest debt and lower monthly repayments. Today, more people than ever before are struggling financially and are facing ever increasing personal debt. Many of those same people own their homes and would like to consolidate their debt by freeing up the equity that is in their homes. [more...]

Date: 2009-09-25 15:09:12

Save Money by Using a Debt Consolidation Loan

Amazon.de Widgets If you are suffering from expensive credit card debt that is difficult to keep under control would it be worth considering a debt consolidation loan as a viable alternative? The simple math would suggest it is.It seems as if you cannot turn on the television or the radio nowadays without seeing or hearing advertisers promoting debt consolidation loans and products. [more...]

Date: 2009-09-25 15:20:16

Underwater In A Way We Have Never Seen

The Denver Post reports from Colorado. “David Craig knows how draining it can be to make payments on a home that is worth less than the mortgage ... not one, but two, homes valued at less than what’s owed on them. ‘You hear about how bad the economy ... who specializes in difficult home financing situations.” The Post Independent from Colorado. “ [more...]

Date: 2008-12-02 18:07:48

How Using Credit Card Debt Consolidation can Benefit Debt Management

Amazon.de Widgets Credit card debt consolidation loans are an ideal way to regain control of your credit card debt. They are a proven method of debt management, lowering payments and simplifying debt control. Typically, a bad credit home equity loan is used for consolidating debt as they have low interest rates and are easier to gain approval for.Credit card debt consolidation is an option of debt management used by countless people as sometimes, the control of many credit card accounts can become [more...]

Date: 2009-09-25 15:14:39

Why Bad Credit Home Equity Loans Are Your Best Option?

Amazon.de Widgets If you are one of the countless millions suffering with poor credit you may well struggle to raise cash for purposes such as debt consolidation. If you are a homeowner, a bad credit home equity loan may well be your lifesaver. A bad credit home equity loan is probably the best and easiest way to free up cash if your credit is poor and you need money to consolidate high interest credit card debt, make home improvements, or any other purpose that you require a sum of cash for.The [more...]

Date: 2009-09-25 15:06:42

Should You Walk Away From Your Home?

(source) Despite the struggle, most responsible homeowners don’t think twice about whether they should make the mortgage payment each month ... back from bad credit and don’t want to let your credit score sink again. Whether you choose to fight ... a shot at a loan modification, when you can just take the “Free Housing For Six Months Package” [more...]

Date: 2008-12-03 22:29:29

FHA chatter; News from MERS, Wells, Flagstar; Home price index not as bad as feared

  As my grandfather used to say, “If you find yourself in a hole, the first thing to do is stop digging.”* Apparently the folks at Sunwest Bank , out of Tustin, CA, felt the same way. Clients received a letter saying, “I regret to inform you that as of October 2, 2009, Sunwest Bank will be suspending its mortgage banking operations. [more...]

Date: 2009-09-29 19:04:07

The Poverty Business

Sorry if this appears to be an older article, and not latest headlines, just thought it was interesting - loki The Poverty Business Inside U.S ... into Byrider, Tsosie drove off, jubilant, in a 1999 Saturn subcompact she bought entirely on credit ... access to credit has put cars, computers, credit cards, and even homes within reach for many [more...]

Date: 2009-01-15 00:45:24

Devise your own Credit Repair Plan

by Rob Kosberg You found yourself in a very bad financial situation. You may feel emotional, hopeless, guilty or all of them ... . You will be particularly concerned with credit cards and perhaps small loans. List the cards with highest ... income. This is the amount of your salary that goes for necessities such as mortgage, car loans [more...]

Date: 2009-01-14 23:53:58

Are You A Candidate For A Short Sale Or A Foreclosure In Atlanta?

Helping Select Atlanta Homeowners Avoid A Foreclosure One of the most difficult decisions a homeowner can make is to take action to leave a home ... is sold and the lender releases their lien for an amount less than what is owed. For this to occur, any ... of a foreclosure on your credit file… and many candidates for a short sale have otherwise fairly [more...]

Date: 2008-11-26 23:15:58

Highlights and Lowlights of BofA’s Earnings Call

Bank of America moved its earnings announcement up to this morning to soothe investors after The Wall Street Journal’s report that BofA would need ... and $27 billion in credit costs. Many of the problems originated at Merrill Lynch, which had a loss ... Goldman Sachs research analysts noted wryly in a research report this morning. BofA CEO Ken Lewis [more...]

Date: 2009-01-16 16:01:30

The Home That Was To Be Their Nest Egg

ABC 7 News reports from California. “Monday was just another day at Marsh Creek Elementary in Brentwood. School keeps kids focused on things other than the housing slump which has devastated this community. Just a few miles away is the City of Oakley where 620 homes so far this year have been lost to foreclosure [more...]

Date: 2008-12-03 18:28:57

No Fee Balance Transfer Offers Rise Again

Research has showed that credit card providers are waiving balance transfer fees but charging higher interest rates . According to financial website MoneyExpert.com , the number of credit card providers that are offering credit card holders the chance to transfer outstanding debt from another card without having to pay a fee to do so has risen by nearly 20pc to 69 during the past year. [more...]

Date: 2009-09-29 15:20:06

The Faux Bottom, Housing Worsens, Newspapers in Trouble, An Oversold Sector, and More!

ur “Obama Rally” forecast… will things “get worse before they get better” or vice versa?… Print in the doghouse… Tribune Co., New York Times and McClatchy looking desperate… Still no bottom in sight for housing… foreclosure, refi and pending home sales data all down… Anecdotal evidence of tough times to come… Wiggin house, [more...]

Date: 2008-12-10 13:43:43

The End of Large-Bank Wholesale Lending - Time For the Mortgage Banker

The End of Large Bank Wholesale Lending - A Resurgence of Middle Market Mortgage Banking – Chase…a Leading Indicator This week Chase shut down ... t effectively manage its pipeline of locked and in-process loans. Of note, Credit Suisse recently shut down ... because NMN is subscription - sorry: “As the refinancing boom gathers steam selected residential [more...]

Date: 2009-01-16 18:23:12

Refinancing When You Owe More Than The Home Is Worth

I've been looking around for an answer to this but my searches haven't returned anything useful ... ? Was all the refinance hype only because the markets kept going up? Is this the reason why people who got an bad loan ... to the utter limit for 100% financing could refinance into more favorable loans as their equity picture [more...]

Date: 2009-01-08 09:54:12

Wall Street Breakfast: Must-Know News

New acronym on the block... The government unveiled its newest initiative, called TALF, or Term Asset-Backed Securities Loan Facility. The $200B facility will support consumer finance, including student, auto and credit card loans ... $20B of credit protection from TARP funds. This is the first time the Fed and Treasury have stepped [more...]

Date: 2008-11-26 12:14:47

Those Order Takers Are Now Gone In California

The Ventura County Star reports from California. “According to Bill Watkins, executive director of the UC Santa Barbara Economic Forecast Project…a foreclosed home in California sells for $200,000 less than a traditional home. Until foreclosures are worked through the market, ‘we don’t think the real estate market can clean itself up, [more...]

Date: 2008-12-27 18:47:48

Bailout Fatigue Sets In

attorneygeneral.utah.gov Just as troubled borrowers are poised to become the next likely recipients of government help, ... mortgage-loan modifications — the anger over bailing out borrowers has been growing. Taxpayers ... saying, ‘I didn’t buy a house I couldn’t afford. I didn’t take out a home equity loan [more...]

Date: 2008-12-09 18:38:11

Loans - Home Improvement Loan in the UK

Find the value of your property increase? A Home improvement Loan could be the easiest and cheapest way to make improvements to your home. Home Improvement Loan is a fixed-rate mortgage loans require no collateral and must be used for home improvement projects. Home equity loans are looking for individual projects funded home repairs, reconstruction projects, room additions, a pool and more without the development of the equity of their home. [more...]

Date: 2009-09-28 07:39:34

Turned Into A Money Vehicle

A report from the Associated Press. “Existing home sales in the Northeast dropped more than 9 percent in October from last year, while the median sales price in the region sank 5 percent to $277,000, the National Association of Realtors said Monday. Michael Lynch, regional economist at Global Insight, said the largest economy in New England, [more...]

Date: 2008-11-25 16:48:32

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