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

Blog posts (141) | Videos (122)
 

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

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

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

Toxic Waste Dump- Dumped on us…

January 16, 2009Taxpayers Vs Shareholders We’ll be paying good maney for thisOn this one, Tyler is stuffed either way ... here for summary). Total admitted loan losses by US and European banks have now reached a staggering ... dining rooms senior management are gagging at the stink.Hence the latest plan - the so-called Bad [more...]

Date: 2009-01-16 12:24:00

Bad Credit Loans - Much Needed Money in the Most Testing Times

For people who do not know much about bad credit, it will often be incomprehensible as to why a financial product has been devoted solely to cater ... , justifies the creation of a separate loan category. It is however, contestable if bad credit loans ... is the excessively high rate of interest that they have to shell out for bad credit loans. When [more...]

Date: 2009-01-16 22:20:13

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

Free lunch? - What does UK government funding mean to startups?

This is a guest post by Nick Halstead, CEO and founder of fav.or.it As I am in the midst of raising another round of funding for fav.or ... funding for business that is meant to help SME’s survive through the credit crunch. The question ... SCHEME This is just a fancy new name for what you probably know as the SFLG (Small Firm Loan Guarantee [more...]

Date: 2009-01-15 09:25:59

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

Taxpayers Vs Shareholders

We'll be paying good maney for thisOn this one, Tyler is stuffed either way. He's a taxpayer, but he's also a bank shareholder* ... propped up courtesy of their governments (see here for summary). Total admitted loan losses ... at the stink.Hence the latest plan - the so-called Bad Bank.The Bad Bank will be a toxic waste dump. Our banks [more...]

Date: 2009-01-16 11:01:00

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

Things to Consider If You Can't Afford Your Payment

I read a lot of the info. you have on your web page ... thank you. I don't live in San Diego so I'm not looking for a home. What I am trying to decide is whether to sell or refinance. I live in DELETED. My mortgage payments are now approx. $2,400. I cannot afford to refinance into a fixed rate mortgage or interest only [more...]

Date: 2008-12-28 15:23:29

Doom - Part Deux

It's here. Finally. Doom. Doom Part Deux, actually, as the fine folks over there at The Wall Street Journal Online have informed us that the " ... . They don't really know exactly where all the money went and who did what with it. Bad answer ... Rican rum producers$128 million to auto racing tracks$33 million for corporations that operate [more...]

Date: 2009-01-17 08:34:00

6 Factors Shaping the Renewable Energy Industry in 2008

Many industries experienced turbulence this year and renewable energy was no exception ... It is not just hard to secure a mortgage. Homeowners wishing to pay for a solar system using a home equity loan may ... . 2008 was really a mixed bag for the industry, with lots of good and bad news. 1. High Energy [more...]

Date: 2009-01-01 01:26:22

Wolf Versus Pettis on US Stimulus, Fiscal Deficit (Not for the Fainthearted)

Martin Wolf has a very good comment in the Financial Times, "Why Obama’s plan is still inadequate and incomplete," which readers might tempted to ignore, since the headline suggests the piece reaches a conventional conclusion: the Obama stimulus plan is too small. That would be a mistake. The Wolf article (as others have done) [more...]

Date: 2009-01-14 15:43:00

Another Quasi-Nationalization, House Debuts Obama Stimulus, Russian Resource War Approaches, Prices Fall and More!

by Addison Wiggin & Ian Mathias Congress unleashes remainder of TARP… another $350 billion into the void Treasury wastes no time… Bank of America quasi-nationalized Dan Denning on the real issue plaguing American financials Obama’s fiscal tenure off to terrific start… $825 billion stimulus bill, [more...]

Date: 2009-01-16 20:25:19

?Home Foreclosures: More Than Just Bad Budgeting

by William Blake For the past several years, the number of home foreclosures has been steadily increasing and it seems that there is little chance for the situation to improve itself. The people who are affected by home foreclosures ... to be individuals who have had some bad experiences financially or who have been taken advantage [more...]

Date: 2009-01-16 10:05:19

?Foreclosure Auctions: A Bargain Hunter’s Dream

by Michael Geoffrey Buying a home at a foreclosure auction could be perfect for you if you are interested in purchasing a home for the lowest price ... these payments by credit card or personal check. The house will be resold immediately if the winning ... . The winning bidder will need to get a loan to cover the rest of the price of the foreclosure home [more...]

Date: 2009-01-18 08:34:36

You Can Implement your own Credit Repair

by Rob Kosberg One day you realize that you are in a serious personal financial disaster situation ... of your salary that goes for necessities such as mortgage, car loans, credit card payments, utilities, other loan ... . This is the income you can devote to reducing debt. Next, decide which loans and credit cards [more...]

Date: 2009-01-14 23:27:42

Banking Industry Sinking Faster Than Government Can Bail?

A useful piece at the Wall Street Journal discusses the poor prospects for the US banking industry, ... and Treasury. The article makes much of recent and almost-certain-to-get-worse bank credit losses ... , are starting to mount. Construction loans were an important business for local and regional banks [more...]

Date: 2008-12-30 06:21:47

Economic Diffusion Works

Get out of your feed reader and comment on this post- we PROMISE that the ShamWow guy won\'t pop out when you do.. ... or limited credit. Fannie Mae and Freddie Mac maintained the bulk of the rest of the mortgage market. A borrower needed good credit and at least a 3%-5% down payment (or equity) to secure a mortgage [more...]

Date: 2008-12-14 16:16:41

“We can put light where there’s darkness, and hope where there’s despondency in this country ... S. Bernanke, chairman of the Federal Reserve, laid out the latest terrifying news: The credit markets ... easy credit, consumers who took on mortgages they could not afford and Wall Street chieftains [more...]

Date: 2008-12-21 16:01:46

Homeowner Loans for Everyone

A homeowner loan is a loan that is given against the security of a house. Your house acts as collateral when you take out a homeowner loan ... is replacing high rate unsecured loans and credit card bills with a low rate secured loan. Therefore ... when you are suffering from a bad credit history. Lenders charge very high rates of interest on bad credit [more...]

Date: 2009-01-16 23:02:29

B of A reports loss, gets more cash

by Rolfe Winkler, CFA The TARP was phase 1 of the bank bailout: give the banks cash to rebuild their capital ... 1: the government is absorbing losses on bad assets themselves.  See Citi’s bailout in late November ... for credit-losses nearly tripled, while the company showed why it needed further help from the government [more...]

Date: 2009-01-16 15:09:12

By Saying Yes, WaMu Built Empire on Shaky Loans

As a supervisor at a Washington Mutual mortgage processing center, John D ... the relentless pressure to churn out loans that produced such results. ... During Mr. Killinger’s tenure, WaMu pressed sales agents to pump out loans while disregarding borrowers’ incomes and assets [more...]

Date: 2008-12-28 04:44:56

2008 in Review and Some Guesses About 2009

Good Afternoon: I will briefly dispense with the market action during the last gasps of 2008 before turning to a review of 2008. I will conclude with what can only be called wild guesses for 2009. The last trading day of 2008 enabled our capital markets to close with the type of upside flourish that was sorely lacking during most of the year [more...]

Date: 2009-01-02 21:49:06

Making Sense of Mortgages

Making Sense of Mortgages Posted by Dark Spider at January 17, 2009 Understanding mortgages is no easy task ... ?s market there is a loan for every type of situation. Short term, long term, good credit, bad credit, no matter. Just about anyone can find financing for their mortgage needs today. Keep in mind [more...]

Date: 2009-01-17 12:08:38

U.S. ‘Bad Bank’ Plan Gets Momentum to Revive Lending (Update2)

By Robert Schmidt and Craig Torres Jan. 16 (Bloomberg) -- Renewed questions about U.S. banks’ viability are pushing regulators toward a new plan that would remove toxic assets from bank balance sheets, in what may become the biggest effort yet to unfreeze lending [more...]

Date: 2009-01-16 11:55:00

Noah's 2009 Predictions

A: Lets keep the tradition going and I apologize in advance for the length of this, hopefully you can find 5 min to read it all. Here were last years predictions for 2008, published December 27th, 2007; if you haven't read it yet and are new to this blog, please try to read it before continuing so you can see where I was right, [more...]

Date: 2008-12-24 15:28:05

The Consequences Of Devil-May-Care Lending

The Des Moines Register reports from Iowa. “Deb Baker believes she’s one of about 31, ... her ability to refinance her unaffordable loan or to sell her home. ‘You hate to lose what you put ... a fair number’ of the inflated appraisals that accompanied the subprime-loan boom now causing [more...]

Date: 2008-12-08 15:54:59

Some facts about debt settlement

Debt settlement or debt negotiation is a way of reducing or paying off completely the debt you have ... for bad credit has several approaches. The first step would be the analysis of your financial status ... at lower interest than most of the credit cards in the market. It would be wise to avail a loan [more...]

Date: 2009-01-17 06:36:46

What The Rise And Fall In Housing Has Done

The Ventura County Star reports from California. “Thousands of Ventura County residents were pushed out of their homes last year, ... a year ago because they see the price slide continuing and ‘want to get out before it’s really bad,’ ... with programs from some of the major lenders and loan [more...]

Date: 2009-01-15 18:16:59

Opportunities for Foreclosure

There are many people who are not aware of the terms and conditions of foreclosure ... their credit in the world of foreclosure. You can also get rid of your bad credit within limited span ... is not able to pay the loan on time then the lender has the right to sell the property and recover the loss [more...]

Date: 2009-01-17 13:33:57

2008 Lookback: Of All the Nerve

Market meltdowns have a way of revealing the true nature of many people ... a Ponzi scheme, and not just as a result of trying to cover a few bad bets in 2008. Mr. Madoff ... it was not in favor of an auto-industry bailout, saying that “the American people aren’t interested in just giving [more...]

Date: 2008-12-24 09:54:00

Debt Management : To Manage Your All Debts

No doubt, debt effect sometime becomes very awful. It can increase your debt burden, affect your monthly budget and so on ... can be able to eliminate 100% of their credit card debts. Many agencies provide debt elimination services ... mortgage, remortgage, credit cards, home equity and through debt settlement. •Debt negotiation: Debt [more...]

Date: 2009-01-17 07:57:21

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

Lost In A Sea Of Stark, Empty Houses And Vacant Lots

It’s Friday desk clearing time for this blogger. “Record numbers of Sonoma County homeowners are seeing property taxes fall, ... have been a little hard to swallow.’” “Bob DeKeulenaere says junk cars in his neighbor’s yard prevented [more...]

Date: 2009-01-02 17:57:28

Joe Strummer: My thoughts on the looming crisis

“Joe Strummer” is the pseudonym of a frequent commenter on BloodhoundBlog ... getting anything in return, it’s called inflation. Now, $1.2 trillion in new currency is bad, but not nearly as bad as when the Fed loans money to banks at a .5 interest rate. The Fed simply is printing [more...]

Date: 2008-12-21 03:05:51

What John Kenneth Galbraith Would Have Said About the Credit Crunch

John Kenneth Galbraith, renowned economist and author of the bestselling The Great Crash, 1929, died in 2006, and so he never saw the crash of 2008 ... with intelligence. We have a tendency to think that people who have made a lot of money must be intelligent, and vice-versa. Surely people who can understand CDOs must be blindingly brilliant and [more...]

Date: 2009-01-16 11:53:54

Using Good Debt to Pay for a House, Car, or Education

Hello again! Cate here, talking, as usual, about debt. The point of my series here at Queercents is to talk about the dangers of getting into debt ... that will produce concrete benefits to your life. The bad kind of credit card debt that I’ve talked about often ... benefit. I’ve had both kinds: Bad Debt: $5,000 credit card debt from living beyond my [more...]

Date: 2009-01-16 02:45:14

In Dreier Saga, Filings Describe “Devastating Effect” on Dreier LLP

Getty Images PURCHASE, NY - JUNE 30: ... that a credit revolver and term loan extended to the firm are in default, as of November 1, upon ... of New York City law firm Dreier LLP, had been arrested and charged in Canada for impersonating another [more...]

Date: 2008-12-10 14:18:51

Best Auto Loan - Tips for Avoiding an Upside Down Loan

If you are new to the car buying process, the likelihood of acquiring a bad auto loan is high. For this matter, car buyers must familiarize themselves with how the financing process works ... than it’s worth. If possible, limit loan terms to 60 months or less. For a list of reputable auto [more...]

Date: 2009-01-17 06:47:20

Deals of the Day: Goldman Recommends Fannie Mae Bonds

Deals of the Day, compiled by Stephen Grocer and Heidi N ... , bankruptcies, financing and private equity. You can bookmark Deal Journal for easy visiting throughout ... billion rescue package for the nation’s imperiled auto industry Wednesday night, but the emergency [more...]

Date: 2008-12-11 13:33:58

Foreclosed HomeDiscover The Truth About Foreclosed Homes

Foreclosed houses are houses that have been closed by an individual or a group of individuals before another person owns them. Such situations arise when mortgagers either dont bother to take their house back or are unable to release it because of financial adversities [more...]

Date: 2009-01-17 12:15:32

Madoff Scam: "He’s a person of integrity..."

A: Waking up this morning here to plenty of news; Senate votes down auto bailout as Harry Reid states "No more talks on auto bailout..." & Bernard Madoff admits to employees of running a $50Bln Ponzi Scheme, using new principal from new investors to pay out returns to existing investors [more...]

Date: 2008-12-12 14:24:37

Finding Personal Loans For Fast Cash

by Trinity Davidson Getting a small loan is sometimes a necessity ... advance loans can often do the trick. With these loans, the lender doesn’t check your credit. This means ... more than $1,000, you may need to find a different type of loan. Some lenders offer car title loans [more...]

Date: 2009-01-16 08:51:36

MortgageNewsClips: CA Foreclosure Predicts, FDIC- Show Me the Money, John Burns, Kohn Speech, Finger Length and Testerone, Contra Trend, Jody Shenn, Toro Chart Series, Bottom is Near, 3.5 is Possible, Positive Traction, 3 more, IRA Has 4

   clear explanation and good charts - Mr. Mortgage: Dec CA Foreclosure Report - Defaults up 100% - December CA Mortgage Defaults Up 100 ... and guarantees.  The FDIC issued a letter to more than 5,000 banks it supervises, encouraging them to say [more...]

Date: 2009-01-15 00:56:39

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