Mission and Recession

by Skye Jethani The financial talking heads are attributing the current economic crisis to a number of things: lack of regulatory oversight, ... rate and over $8000 in credit card debt. As Dave Ramsey says, we are not “acting our wage.” ... bad mortgage lending practices, and globalized market structures. But some of the more plainspoken [more...]

Date: 2008-12-10 17:00:51

Blog posts (559) | Videos (192)
 

How Cutting The Fed Funds Rate Helps The U.S. Economy

... which credit card, equity line, and construction loan borrowing rates are based. As Prime Rate ... be needed to reverse that path. As Prime Rate falls, it brings business borrowing costs [more...]

Date: 2008-10-29 10:00:03

Hurricane Ike and Cincinnati Real Estate

  Yesterday’s gusting winds pushed a lot of buyers around Sunday Open Houses ... more difficult to obtain a mortgage if you have a marginal credit rating or a minimal down payment ... a vendor to remove trees or repair siding or roof- I would suggest leaving a note for potential buyers [more...]

Date: 2008-09-15 14:21:32

With Things So Bad In The Economy…

…why is this happening: You know what I got in the mail yesterday? An offer from my credit card company, for a $50,000 unsecured personal loan. Did you catch that? Unsecured. That amount of money would require me to make the equivalent of another mortgage payment to repay them. That offer came as a result of our credit rating, and we would [more...]

Date: 2008-09-30 15:47:13

As The Market Collapses, Here Is What Is Going On.

So yesterday we saw a 500+ point drop in the market and todays chart looks like a see-saw. Exciting, no? No, not really ... Brothers Holdings Inc. and credit downgrades of American International Group Inc. led banks to hoard ... ) shares plummeted after the insurer’s credit ratings were cut, heightening concerns it might file [more...]

Date: 2008-09-16 16:39:22

Ireland And An Unstable Europe, Again

According to Bloomberg (citing the RTE website), the Irish Prime Minister said in Toyko today that Ireland may need to call in the IMF if economic ... not available). Unless you really intend to bring in the IMF for loan discussions, I would suggest it is a bad ... last week, Greece’s sovereign credit rating from S&P was lowered today. [more...]

Date: 2009-01-14 14:43:22

Oracle Shares Under Pressure Ahead Of Earnings Thursday

Oracle (ORCL) shares are off to a rocky start this morning as several analysts weigh in on conditions at the software giant ahead of its earnings report for fiscal Q2 ended November, which is due after the close on Thursday. Credit Suisse ... rating. “One of our primary theses on software has been that enterprise applications are more directly [more...]

Date: 2008-12-15 17:36:12

World economic recession hits Dubai

Fox News are reporting that: "DUBAI, United Arab Emirates — The developer of a skyscraper planned to be the world's tallest said Wednesday it is ... development — which it unveiled only in October — came as a leading credit rating firm warned that falling ... values in the emirate tumbled 8 percent in the last three months from the previous quarter, a re [more...]

Date: 2009-01-15 20:00:00

Would the Last Honest Reporter Please Turn on the Lights?

An open letter to the local daily paper — almost every local daily paper in America: I remember reading All the President’s Men and thinking: ... , but when they can’t make the payments, they lose the house — along with their credit rating. They end up worse ... loan?  It’s a loan that the recipient is likely not to be able to repay. The goal of this [more...]

Date: 2008-10-31 05:00:52

LendingClub Loans

Examples of loans being funded at the LendingClub. If these guys are getting their loans funded, couldn’t you? ... credit cards Tulsa, OK Purchase engagement ring RONKONKOMA, NY grow business,early payoff. tamarac, FL Using to pay down credit cards Rensselaer, NY Pay off credit card at lower rate Jupiter [more...]

Date: 2009-01-11 01:17:27

Fannie and Freddie to Announce Mass Loan Modification Program

re-default. This may also further erode investor confidence in residential mortgage backed securities, ... monies to put towards housing payments. Step 3) Start Improving Your Credit Rating This can take a long ... you pay your bills on time, that you have good credit.  Paying your bills on time only accounts for 30 [more...]

Date: 2008-11-11 19:02:07

Lending Club P2P: Review of New Post-SEC Changes, Free $25 Lender Bonus

Now that LendingClub has finished their SEC filing and is one of the only P2P lenders currently operating ( ... you get. Then you can simply compare this rate with your other options - credit cards, home equity loans ... conditions, remember that credit cards can only guarantee 6-12 months of a low rate, and home equity loans [more...]

Date: 2008-12-14 14:30:58

Major Potential Risks to Credit Quality in 2009 - Fitch

Fitch Ratings’ summary of the potential rating impact of some of the more prominent credit market risks for 2009 makes for depressing, but prudent, reading. A year ago, Fitch’s 2008 Outlook [more...]

Date: 2009-01-16 19:48:30

What You Need to Know About Refinancing

by Mary Bush Refinance loans allow you to take an old loan or several old loans, and redo your deal ... . It is the easiest way out of a foreclosure, but with bad credit, interest rates will be high. The current ... . In today’s economy, some banks are refinancing mortgages so that distressed homeowners can better [more...]

Date: 2009-01-06 17:05:01

End of The Year Market Report for Charlottesville Region

Copyright RealCentralVA.com, LLC. If you are not reading this at RealCentralVA.com the site you see is likely stealing content ... ‘em … wait! yes he does , Auto Bailouts, Investment Banking Bailouts, Credit Card companies ... - - Interest rates are ridiculously low, and loans are absolutely still available. - It is a Buyer’ [more...]

Date: 2008-12-22 14:00:36

A HUGE Currency Rally!

Gaza bombing has dollar on the run…  More proof we’re turning Japanese…  Adding to the debt burden…  What will deflation do for the dollar? ... they’re just going to get worse, and that spells bad times for the dollar… Eventually… I did a lot ... to dig the economy out of recession, said Akio Mikuni, president of credit ratings agency Mikuni &amp [more...]

Date: 2008-12-29 15:45:39

Economy so bad National won’t take advantage?

Heat on public sector bossesPublic service bosses face renewed pressure to cut spending as Treasury warns the economy will stall this year and ... in the face of warnings New Zealand's credit rating will be downgraded if debt gets out of hand ... , plasma TV’s and cosmetic surgery on credit cards wasn’t sustainable (who would’ve thunk [more...]

Date: 2009-01-15 18:18:00

Did You See What God Just Did To Us, Man?

Evangelical Christianity’s prosperity gospel is indicted for ints contribution to our current economic troubles: ... who got dicey mortgages to believe “God caused the bank to ignore my credit score and blessed ... to Wachovia and get a loan,’ but I have heard, ‘Even if you have a poor credit rating, God can still [more...]

Date: 2008-10-13 12:22:42

Triple B Coming to NYC

Chase%20-%20Wamu%20Overlap.jpg Don’t worry, the credit rating of the City of New York has not fallen to one rung above junk ... . Capital One the credit card company figured out deposit gathering was a good low cost source of funds for its credit card lending and snapped up North Fork. The sleepy older banks like Chase who were losing [more...]

Date: 2008-10-01 21:40:02

Bills IQ for your Debt Relief

In our complicated world today, many of us are trying to make most out of our money on hand ... has a Credit card debt. Each one of us is definite to be burden on credit debts and bad credit standing. So, what to do when one is not financially capable or has a degrading credit rating? What else [more...]

Date: 2008-08-23 06:06:10

Is Your Credit Application Affected By Your Job?

The following is a guest post by Tisha Tolar. Special thanks to Tisha for filling in while I’m on vacation ... of people who manage okay and are able to maintain a good credit rating, it still may not be good enough anymore to just be “good”. In the days of old, credit cards used to be relatively easy to apply [more...]

Date: 2008-12-01 14:29:30

Euro Rallies After ECB Cuts 50bp

After having cut interest rates by 50bp Thursday morning to 2 percent, ... debt rating downgraded. Greece’s credit rating was cut by S&P yesterday. There are no silver [more...]

Date: 2009-01-15 15:14:21

Chinese banks facing risks from bad loans

China’s lenders may have evaded the worst of the global credit crisis so far, but they are facing plenty of risks of their own, economists with credit agency Fitch Ratings said Friday. A larger-than-expected downturn ... , which have boosted lending at the government’s behest, will see an increase in problem loans, said [more...]

Date: 2009-01-16 09:39:30

Procrastination will kill me, but I am not ready yet...

Doing my bills this morning, as I try to correct the yaw in my course - and I look at my annual percentage rate on one of my credit cards... yikes! ... that bad boy into bits. Step one taken, sigh. No wonder there is a credit crisis - who could pay ... my checking account. [more...]

Date: 2009-01-05 16:06:00

Bad Credit Report Repair Done Easy

Usually it’s about the time that someone needs to buy a new car or is about to purchase their first home that they realize that they are going to need to do a little bad credit report repair. While it can be quite costly to hire a professional to help you get your credit rating back on track quickly, there is hope for people [more...]

Date: 2009-01-15 18:01:59

Lehman shares plunge again on fear of fire sale

From Times staff writer Walter Hamilton: The clock is ticking louder for Lehman Bros. Holdings Inc ... . all downgraded Lehman this morning. One growing concern is that credit-rating firms could slash ... has searched unsuccessfully for a deep-pocketed partner to pump capital into the firm to repair [more...]

Date: 2008-09-12 00:53:20

Real Estate Short Sales and FICO Credit Scores

Real estate "short sale" is a new term of art that has entered the lexicon during what is considered the worst housing crisis in a generation ... is completed. Sammy avoids having a foreclosure haunt his credit rating for the next seven years. Typically, short sales appear on a person's credit report as "Settled for Less" or "Paid in Full For Less [more...]

Date: 2008-09-12 14:20:35

Friday’s Rates on Thursday

Huh?  Since tomorrow is Independence Day, the bond markets will be closed…so I thought I would provide you with mortgage rates on today ... with a minimum credit score of 720, “full doc” purchase with a sales price of $500,000 and a loan ... %.   Rates should be doing great with all this bad news, right?  Not so fast!  It seems as though Wall Street [more...]

Date: 2008-07-03 18:00:27

On the Road to Home Re-fi

So, we finally decided to start the process of refinancing our home. I thought we'd try our current mortgage company first. First off, let me say that I've had three years of bad customer service from this company ... we got was one of the lower ones for our credit rating. I only did a little research on closing [more...]

Date: 2009-01-06 13:39:00

Disposable mobile broadband - my experience

Someone close to me is going into hospital for an operation soon. They want to take their Mac with them for web and email access while recuperating ... , at the typical extortionate rates, with the usual clunky credit-card sign up. It's also unclear whether ... London not too bad unless I'm in a basement. Also, it's not necessary to have multi-MB speeds [more...]

Date: 2008-12-26 10:39:00

Fed Chairman Uses Incompetent Ratings Firms for Bailout

“Federal Reserve Chairman Ben S. Bernanke is basing hundreds of billions in emergency lending on credit ratings from companies that gave AAA grades ... .  So reports Bloomberg News. Before the financial crisis, we repeatedly warned in vain ... of the financial crisis.  “They’re outsourcing the credit assessment to a group of people whose recent [more...]

Date: 2008-12-18 18:40:19

Debt Consolidation - a great way to simplify your credit problem

Debt consolidation is great solution of financial problems that faced by many person in their life ... and repair your credit report if you follow your debt management plan until the end of period. Don’ ... . However, most debt consolidation efforts will have bad effect on credit ratings at first. This is because [more...]

Date: 2008-10-22 15:15:48

Debt Management

Debt not only causes stress and worry, but it could also harm your credit rating ... only be used in the case of an emergency. If you find yourself having to use your credit card a lot ... of your credit card. Incessant spending is a form of mismanaging your money. This is what puts most [more...]

Date: 2009-01-16 20:45:59

When Toyota (TM) Has A Rating Cut, The Auto Business Really In Trouble

Batmobile512 Detroit is in real trouble. There has been some hope that the really healthy Japanese and European car companies could hold on to their credit ratings. Toyota (TM) has a bullet proof balance sheet compared with almost any other ... options as the cash balances of the US car companies head to zero. A purchase of all of part [more...]

Date: 2008-11-26 11:30:43

Use Online Surveys To Build Customer Trust And Loyalty And Thrive During The Recession

The ongoing financial crisis and talk of recession has left a lot of Internet marketers worried about whether they will be able to stay in business ... . Social network marketing sites, email, instant messaging and Skype all offer the Internet marketer ... with products first is not a great way to raise your credit rating with your prospects. One good way [more...]

Date: 2008-11-19 17:54:53

Back In Black: How To Recover From A Bad Credit Rating

You don’t need to be inundated with fatherly scenarios of disastrous outcomes if you have bad credit ... . The fact is, you already know about the affects it has on your life. What you’re looking for is a way out – a way to escape the unrelenting monster that is bad credit. If you’re planning on ... [more...]

Date: 2009-01-17 00:10:16

Monday morning links

TOP STORIES Fed, Treasury revamp AIG support - MarketWatch China Unveils Sweeping Plan for Economy - NY Times Fed Defies Transparency Aim in Refusal ... For U.S. Banks - Washington Post Why banks are boosting credit card interest rates - USA Today Bear Stearns ... a bigger boom imply a bigger bust? - CFR How Low, How Bad, How Long? - Hussman Funds Laying [more...]

Date: 2008-11-10 14:24:06

Hold On, It's Worse Than You Thought

According to the National Radio Astronomy Observatory, everything is "faster, heavier and more likely to collide ... the rise in unemployment, but things are still pretty bad, with the rate peaking at something ... credit for what they argue were the stimulative effects of the Bush tax cuts in 2001 and 2003 [more...]

Date: 2009-01-06 18:22:55

30-Year Mortgage Rate Falls Below 5%

Just when you thought mortgage rates couldn’t get any lower, they did ... rate and refinance can’t meet the credit requirements and will not get approved, reports today’ ... their credit might not be up to par, but they might lack sufficient home equity. The “underwater” problem [more...]

Date: 2009-01-15 09:49:00

Who’s At Fault for Economic Crisis - Everyone: Tom Friedman

I would encourage everyone to read Thomas Friedman’s column in the New York Times today.  Along those same lines check out PBS’ Now and their report on the credit rating agencies ... , with nothing down and nothing to pay for two years; people who had no business pushing such mortgages [more...]

Date: 2008-11-26 14:57:32

Friday morning links

TOP STORIES Credit expenses lead to $2.3 billion loss for Fannie - MarketWatch 2 Banks Buying Back $17 billion in Securities - NY Times Governments cause the credit crisis, but capitalism gets the blame - Telegraph 8 who saw the crisis coming ... Consumer credit jumps at fastest rate in 7 months - MarketWatch HOUSING Foreclosure refugees skipping [more...]

Date: 2008-08-08 13:38:00

The Fed Translated….

The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 1 percent ... Greenspan is being blamed, in part, for causing the credit crisis by leaving interest rates too low ... the world is damping the prospects for U.S. exports when other countries are in bad economic straights [more...]

Date: 2008-10-29 20:41:31

GMAC Deal Boosts Auto Stocks

The government’s decision to provide $6 billion in financing to steady the lending arm of auto giant General Motors has jolted futures on ... credit rating needed for funding new loans to 621, down from the 700 limit established by GMAC two ... lousy report on home prices, as the S&P/Case-Shiller home price indexes fell to their March 2004 [more...]

Date: 2008-12-30 14:03:40

GMAC Deal Boosts Auto Stocks

The government’s decision to provide $6 billion in financing to steady the lending arm of auto giant General Motors has jolted futures on ... credit rating needed for funding new loans to 621, down from the 700 limit established by GMAC two ... lousy report on home prices, as the S&P/Case-Shiller home price indexes fell to their March 2004 [more...]

Date: 2008-12-30 17:03:00

Trepidation About Quantitative Easing, Version 2.0

The Fed made official its move to quantitative easing today, and said it will take no prisoners until it has lowered rates and credit spreads further ... Securities Loan Facility to facilitate the extension of credit to households and small businesses [more...]

Date: 2008-12-17 10:28:49

Volt Still Kicking as Feds Take $5B GMAC Stake

With a new $6 billion bailout from the Treasury approved late yesterday, General Motors has lowered its requirements for auto loans ... of GM’s retail customers last year, Bloomberg reports). This morning GMAC announced it will provide loans to customers with a credit rating of 621 or above, down from yesterday’s minimum score of 700 [more...]

Date: 2008-12-30 21:00:12

The New China, Bush Asks for TARP, 2009 Oil Surprise, Buy Turkmenistan and More!

by Addison Wiggin & Ian Mathias Chinese exports dive; oil imports, money supply and leverage rise… sound familiar? Bush asks for rest of $700 billion TARP… S&P says USA’s credit rating getting shaky Dan ... d been forecasting that because the economic paradigm “We think, they sweat” was a bad one — it was unlikely [more...]

Date: 2009-01-08 01:36:29

Repairing Bad Credit

If you are having troubles in terms of bad credits, I have some good news to tell you? There are actually sites that can help you in solve your problems through credit repair. The site ... , www.repairyourbadcredit provides quality service in affordable cost and price rate to solve credit dispute [more...]

Date: 2008-10-17 12:17:15

South Asians Flee Dubai as Economy Slows

Dubai police have found at least 3,000 automobiles -- sedans, SUVs, ... -rating agencies recently have revised downward the outlook -- and in some cases, the credit rating ... from South Asia who have lost their jobs after Dubai's real estate crash, according to a DNA report. Dubai [more...]

Date: 2009-01-16 18:13:55

Rates for Friday Afternoon

Mortgage rates are much improved since what I posted last week.  Wednesday and Thursday were rough on the markets as traders braced (and rightly so) ... : 6.125% (APR 6.271%)  0.50% to rate FHA.  Pricing based on credit score of 620 or better and loan ... % (APR 7.064%)  0.25% to rate FHA-Jumbo. Pricing based on loan amounts from $362,791 - $567,500 [more...]

Date: 2008-11-07 21:38:07

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