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

Blog posts (596) | Videos (250)
 

How We Saved $10,000 in a Year Giving Up Nothing We Knew About

Times are tough.  People are losing their homes at record pace, sinking further and further into debt.  Auto repossessors are making a killing as car loans drop like flies.  But the truth is that things aren’t nearly as bad as we seem to think.  We perceive it as such because we are, in short, an utterly wasteful and gluttonous society.  Even those who constitute the low income households waste more money in a month than many people in the world will see in a year.  I know, I know.  This is the [more...]

Date: 2009-09-30 11:38:44

China Spreads Aid in Africa, With a Catch

  It is not every day that global leaders set foot in this southern African nation of gravel roads, towering sand dunes and a mere two million people. So when President Hu Jintao of China touched down here in February 2007 with a 130-person delegation in tow, it clearly was not just a courtesy call.   And in fact, China soon granted Namibia a big low-interest loan, which Namibia tapped to buy $55.3 million worth of Chinese-made cargo scanners to deter smugglers. [more...]

Date: 2009-09-30 07:16:47

The Road to Zimbabwe

By Terry Coxon, Editor, The Casey Report GoldSeek.com Sprinkled among all the official talk about efforts to end the current recession, you’ll hear assurances, notably from Federal Reserve Chairman Ben Bernanke, that when the economy does revive, it won’t be allowed to blast off into runaway inflation. The Fed, we’re being promised, will prevent such a launch by reabsorbing the hundreds of billions of dollars of excess liquidity it recently created to halt the credit crisis. [more...]

Date: 2009-09-30 12:40:48

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

Economic Outrage du Jour

Quite a few right-wing bloggers, including Glenn Reynolds, the Instapundit, got themselves snookered by a recent, lazily corrected article in The New York Post , written by Richard Wilner. Ampersand at Alas, a Blog provided the fact-checking application. Among other mistakes in Wilner’s Obama-slamming piece was this bit in the lede published on September 27: The unemployment rate for young Americans has exploded to 52.2 percent — a post-World War II high, according to the Labor Dept. [more...]

Date: 2009-09-30 03:18:05

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

Bad Credit Debt Consolidation Loan Advice

Before considering a bad credit debt consolidation loan, think very carefully about your financial status. Once a consolidation loan goes into effect, it often has to remain in place if bankruptcy is declared further down the road. In the past, it was a dishonorable thing to declare bankruptcy, but times have changed with our current bad overall economical situation. Consumers are wise to consider all options before deciding upon what the best option is for your unique financial situation. [more...]

Date: 2009-09-30 18:01:54

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

Walk A Mile In The Loan Modification Business

by Adam Whazzer Who is there to Help Those Who are Called to Provide Help? I work at a Foreclosure Defense Law Firm which happens to also engage in the practice of Loan Modifications. I am not an attorney nor am I here to provide or imply legal advice. The Loan Mod & Foreclosure Defense business has gotten a bad rap due to some bad apples in the bunch but there are some of us who actually care about what we do and to protect Homeowners and their Families from impending Foreclosure. [more...]

Date: 2009-09-29 17:25:39

Guaranteed Loans For Bad Credit Are A Must For Your Cosmetic Surgery

by Riz Goodman Men and women equally are going for cosmetic surgery to change their looks and also to correct any abnormalities in their appearance. The motive behind all this is not very hard to fathom as in today’s world the main emphasis is always on the looks as opposed to the work and the ethics. A qualified board certified plastic surgeon is a must for the good cosmetic surgery to be done. That will happen only when you are ready to pay a big amount to the surgeon. [more...]

Date: 2009-09-29 19:30:27

Underlying Demand During a Housing Shortage

There is an impressive amount of garbage in today's headlines to sift through. Most of it, of course, is rubbish. But there are probably two main takeaways from the last 24 hours: don't fall for the earnings recovery story, and housing is still a sucker's bet in country's whose names begin and end with the letter "A". Let's take the earnings recovery story first. Tomorrow we're going to have a look at the outlook for Aussie bank earnings. [more...]

Date: 2009-09-30 04:58:24

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

Filing for Bankruptcy Chapter 13

A lot of people end up looking at bankruptcy chapter 13 when they get into financial difficulties out of which they simple can’t find a way out. Most of them choose to file a bankruptcy chapter 13 where the court will take your entire claimed debts and find you a plan for repayment that matches with what you can actually afford. If you are on the verge of bankruptcy, you should first explore the various bankruptcy alternatives available. [more...]

Date: 2009-09-29 13:17:05

Friday morning links

TOP STORIES Rate cut from Japan, Barclays seeks funding - Reuters Nevada, Michigan, Florida lead 'underwater' list - AP Housing plunge: ... is more likely than many assume - MarketWatch Banks, consumer advocates urge U.S. to allow credit card debt ... it feels so bad - CNN/Money Economic data point to the start of a recession - LA Times Recession Ghost [more...]

Date: 2008-10-31 13:20:00

Life After Bankruptcy Discharge

by Craig Schiffer There are a lot of issues which a person has to face after bankruptcy discharge. Apart from all the money related problems, there is a lot of mental stress which comes with bankruptcy. Therefore, it is very important that the person refers this phase as a bad phase in his financial life and get on with his life. He needs to try and forget about it and make a fresh start. It is difficult but certainly not impossible. [more...]

Date: 2009-09-29 17:10:51

Not with a bang but a whimper

This is how you lose liberty. If an FBI agent looks at a terrorist's library records or Larry Flint has to pay additional postage for child ... , this is a very bad idea: Sixteen House Democrats who opposed a similar bill realized ... mortgage interest rates closer to those on, for example, auto loans or credit cards. A bankruptcy [more...]

Date: 2009-01-08 18:55:08

The Reality of Prepaid Credit Cards

by Pedro Turriago Prepaid credit cards are great for those who find it difficult to control their spending habits. They have a limit imposed by the cardholder that is solely determined by how much money they load onto it. If the person does not have money to load onto the card, then they wont be able to use the card. In short, by the time a prepaid card is used, the bill is already paid. Its probably the best type of credit card available for people who want to stay out of debt. [more...]

Date: 2009-09-30 11:13:28

Scanning the News: Tough Times Require Decisive Action

Though I get most of my in-depth commentary on business and technology from blogs, I augment that with mainstream news headlines and alerts ... Stocks in U.S. Retreat; S&P 500 Index Falls Below Lowest Close Since 2003 •Berkshire Credit Risk ... ' as Shares Fall •Senate's McConnell Calls for Expediting $25 Billion of Loans to Automakers •Hijacked [more...]

Date: 2008-11-19 16:04:32

Home Ownership Is Not a Dirty Word

At Economist’s View, Mark Thoma brings up a subject no one seems to want to talk about anymore - helping people with modest incomes buy homes ... , caused the subprime mortgage meltdown. They contend government regulations forced lenders to make bad loans to low-income borrowers. Thoma quickly dismisses this. Instead, he raises an important [more...]

Date: 2008-10-24 13:19:55

Bad Credit Car Refinance Options

Your bad credit car refinancing is very easy to do if you act fast after first getting your loan. Once a car loan drops below about 8,000 dollars, it is hard for even people with great credit scores to find refinancing options. Although, when car loans do drop below that 8,000 dollar mark, there are alternative methods of refinancing available so that all monthly bills can be lowered into a range that can be paid easily if income drops unexpectedly. [more...]

Date: 2009-09-29 17:57:47

Need a Payday Loan? Important Tips are Here!

Do you looking for a same day payday loan? The financial help through a no fax payday loan will be a best option for you. Getting a loan on the same day of application is not that complicated because of the increase in payday loans available today. This will help you to manage your unexpected expenses without any delay. You don’t have to waste your time on faxing documents and proofs. If you are not getting approved by one lender, don’t be panic. You can try with other lenders. [more...]

Date: 2009-09-29 18:16:13

Finding Bad Credit Home Loans

by Tony Kid Searching for bad credit home loans will prove to you that there is plenty of help out there. So many new programs are available that it makes it almost hard not to find one that fits you and your needs. People with bad credit have more options today than they used to, due to the fact that so many people have ended up with it. If they shut out everyone with bad credit, they’d lose a vast market indeed. So don’t be discouraged if you have bad credit, there’s a way for you to get the [more...]

Date: 2009-09-29 19:44:01

Economic Eugenics

Miss American Pie bids farewell to the Working Class Jack as companies downsize, outsource, and offshore those jobs once proudly (and efficiently) ... be tedious and redundant, they didn’t look half bad on a resume. And with wages superior to Taco Bell ... . These men and women are hit especially hard. Many of these people are willing to work long hours [more...]

Date: 2009-01-08 03:32:00

Student Loan Consolidation

by Layla Vanderbilt If you are struggling to pay off your student loans, or to balance the payment of multiple student loans, you may want to consider student loan consolidation. This approach is particularly helpful for borrowers facing forbearance or deferment, or if your level of debt is effecting your credit score. You can often decrease your level of debt, interest rates and number of loans in one step through loan consolidation. [more...]

Date: 2009-09-29 14:56:40

Moral Hazard of the Coming Mortgage Bailout

“Why am I being punished for having bought a house I could afford? I am beginning to think I would have rocks in my head if I keep paying my mortgage.” -Todd Lawrence, Norwich, CT homeowner with a traditional 30-year mortgage > Herein lies the simple problem in trying to “save” so many mortgages: A huge swath of them should not be saved [more...]

Date: 2008-10-31 14:09:11

If You Have A Debt Problem, Then Admit It!

You Can’t Solve A Debt Problem If You Deny Its Existence.  If you have a major debt problem and want to end it, then go look at yourself in a mirror and say, "I have a huge debt problem, it’s suffocating me, and it’s taking away my freedom", or whatever words feel right to you. If it felt real and you shuddered, then you’re most likely ready to start getting out of debt, but if you think that having overwhelming debts is: a) no big deal,b) something that everybody has right now,c) something [more...]

Date: 2009-09-30 20:42:18

U.S. Banks Refuse to Detail How They’re Spending Federal Bailout Money

After receiving hundreds of billions of dollars in taxpayer-funded federal bailout money, the biggest U.S ... up right now, and we’ll send you an important new report for free: “The Three Best Investments in Asia ... . Some of those buyouts deals are being done in markets as far away as China. Meanwhile, credit remains tight [more...]

Date: 2009-01-06 15:56:33

Above the fold

A DAILY round-up of economic news: Lots of news out there today. The Commerce Department has revised America's third-quarter GDP number down ... , in an attempt to increase other kinds of consumer lending, including student loans and car loans ... for retailers. The Federal Reserve announced two new facilities designed to boost consumer credit [more...]

Date: 2008-11-25 14:41:57

Profiting from Payday Loans in 2009

On an otherwise normal evening in 1964, a woman known as “Miss Witness” received a disturbing telephone call from alleged loan shark Frank Sacco ... . Prices are still crashing - currently sitting about 35% below a year earlier. Credit is nearly frozen. Banks and credit card companies alike are buckling down and leaving very little money free [more...]

Date: 2009-01-16 19:38:12

Pernicious Nonsense

(updated below) The emerging right wing narrative about how our country came to be embroiled in the current economic crisis is not only completely ... Reinvestment Act, they punished banks that didn't make enough loans to people who do not have the credit ... risky loans. Moreover, the law only applies to banks and thrifts. As Tim Westrich points out: W [more...]

Date: 2008-10-02 22:03:39

My Net Worth Is Down Only 10% Since Its August 2008 Peak

So, how did I manage this remarkable accomplishment?  Let me tell you…. I have been tracking my family’s net worth for about eight months now ... ).  You are essentially earning the interest rate of your credit cards and car loans when you pay them ... ;P 500 and other indexes because of the mutual funds’ bad gambles in stocks like AIG, Wachovia, Fannie [more...]

Date: 2009-01-10 18:13:54

An Anti-Masterpiece Of Timing In California

The Mercury News reports from California. “John Gronley bought his dream home nine years ago for $625,000. Its paper value peaked at $1 ... through people such as a former loan agent at a small San Leandro brokerage.” “‘We called them ‘ ... who could never afford a loan on a $400,000 house. At least once a month we’d all look at each other [more...]

Date: 2008-10-04 17:43:14

The Bank Life: Isn't It Swell

With banks getting preferred treatment by governments across the world, one wonders what life as a bank might be like ... of this former Dire Straits hit. Does a bad credit score hike your borrowing costs in real life? Again, better ... the drunk driver can crash into a wedding party, killing most attendees and wrecking the car. At that point [more...]

Date: 2008-11-28 16:28:23

Trouble for Barney and Friends

I’ve got many criticisms from Leftblogosphere because I continue to criticize the lending and borrowing practices that have left Fannie and Freddie ... in the 1980s.  I do think it is completely bad banking as well as unfair to everyone involved to place people in mortgages that they cannot possibly pay.  I’ve always supported special bond financing [more...]

Date: 2008-12-09 17:20:09

Progressives Have Come Up With A Bill Worth Backing But Will Rahm Emanuel And His Allies Kill It?

Yesterday Alan Grayson, the Blue America endorsed candidate for the Orlando congressional seat held by pathetic Bush rubber stamp Ric Keller, ... bad choices, then "credit" (mortgages, car loans, business loans, etc.) will disappear ... was created, whenever there was a need to ease credit, the Federal Reserve lowered interest rates and bought [more...]

Date: 2008-10-01 09:30:00

The Past Is History

It’s Friday desk clearing time for this blogger. “Since she put her Norfolk rental home on the market four months ago, ... against their home equity through subprime loans will find it virtually impossible to refinance ... , now their loans are adjusted and they can’t make the payments,’ said Daniel Murphy, owner of Seaside Mortgage Co [more...]

Date: 2008-10-10 20:55:09

Bill Maloni: You Want to Blame Who?

Doom friend and former long-time Fannie Mae Chief Lobbyist Bill Maloni has once again given us permission to re-post his most recent blog article ... ,” (Mischief Makers for McCain). This fact came home to me this past week, when last Sunday I drove ... of the residential real estate and everything else bad in the US markets. ATTACKING THE GSEs [more...]

Date: 2008-10-06 07:05:57

2008 Year in Review - A Look Back (1 of 3)

What follows are excerpts of posts from 2008. It was a busy year.George Bush and Karl Rove were masters of politics and the two stooges of policy, a frightening reminder that voters can be easier to seduce than reality.-----------Why not build the Escher Expressway – build all roads to slope downhill as a means to improve gas mileage? [more...]

Date: 2009-01-02 07:53:00

FALLING PRICES ARE NOT DEFLATION BUT THE ANTIDOTE TO DEFLATION

This is the first in a series of articles that seeks to provide the intelligent layman with sufficient knowledge of sound economic theory to enable ... article of The New York Times of last November 1 provides a typical example of this confusion. It declares: As dozens of countries slip deeper into financial distress, a new threat may be gathering [more...]

Date: 2009-01-10 01:22:19

Prediction For The Local Atlanta Real Estate Market For 2009

Likely To Be A Year Of Few Winners And Many Losers The housing slump - which led to the financial crisis - is likely to get worse across the ... into expensive homes by using unconventional financing, often wondered where all of these buyers were ... prices - the damage spread to the auto makers. While the U.S. economy is resilient enough to handle [more...]

Date: 2008-11-08 19:07:49

Down To Free In Florida

The News Press reports from Florida. “The Fort Myers/Cape Coral metropolitan area ranks third nationally in foreclosures, ... . Problems also arose when individuals who didn’t have the means to own a home took ill-advised ... Every waiter and waitress in town was buying a home.’” “Now, the backlog of homes for sale is 22 months [more...]

Date: 2008-11-11 15:16:46

I'm still mad about the economy-especially Michigan's

----- Original Message ----- From: Senator Debbie Stabenow Sent: Friday, December 19, 2008 7:04 PM Subject: Auto Bridge Loans "Last week . ... . I am pleased that they have taken action to provide the necessary bridge-loan to help our automakers through this global credit crisis, and preserve jobs here at home. While today's actions may [more...]

Date: 2008-12-22 21:31:17

The Capacity of Greed to Breed Idiocy

Consider the lawyer of a thief who, shortly before being shot dead, handed his attorney seven paintings (worth $30m) he had stolen ... boundary. The 1978 theft from collector Michael Bakwin was the largest home burglary in Massachusetts ... out there who doesn't understand that too many risky loans will eventually return to bite you in the ass [more...]

Date: 2008-10-01 11:13:00

Half a Million Lost Jobs, Civil Unrest, the Obama Rally and More!

by Addison Wiggin & Ian Mathias Another half a million jobs lost… unemployment reaches new historic highs So how long until people take to the streets? Army already plans to “quell civil unrest” Consumers, businesses borrow less… Bill Bonner on why government spending can’t cure private withdrawal Hoping for an Obama rally? [more...]

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

Mixed Trading as Citi Plans To Restructure Loans

Well, well, another interesting day of trading while the world sits and waits for our dreaded employment numbers to be announced ... into it. Not me, I expect the number to be very bad and as a result it reminds me of just how big of a mess ... to participate in mortgage adjustments for distressed housing loans. Are you serious? I don't [more...]

Date: 2009-01-08 03:06:15

Credit Bubble bulletin ~ Nolan's analysis

A Divergence: The 2009 stock market has quickly come face-to-face with the reality that the worst of our banking system’s problems have yet to pass ... is now moving briskly. Citi management this morning announced a plan to create a new entity (“bad ... and is now backing $301bn of Citi’s real estate loans and securities. From Bank of America came the [more...]

Date: 2009-01-17 09:47:29

The Great Unwind

flickr (TW Collins) In “The Arabian Nights,” the beautiful princess Scheherazade buys one day of life at a time by recounting fantastic fables that ... diminishes the capacity for further credit creation in the future. The second phase of the cure is the higher cost and lower availability of credit. This forces corporations to sell assets, reduce [more...]

Date: 2008-10-10 10:00:06

A Hint Of The Nightmare To Come

It’s Friday desk clearing time for this blogger. “For four years the Neal family called a two-family house in New Haven, home ... that really hurts people. We’ve had a lot of people say ‘We love the house,’’ but they just can’t find ... trying to sell her home. ‘It’s hard to find people who can get financing,’ said Moore. ‘It’s getting [more...]

Date: 2008-10-31 21:25:41

Home Prices Rise for Third Straight Month

RISMEDIA, September 30, 2009—(MCT)—The market value of U.S. homes in 20 major cities rose by 1.6% in July compared with June, the third monthly increase  in a row, according to the Case-Shiller home price index recently released by Standard & Poor’s.  In July, prices rose in 18 of 20 cities. Only Seattle and Las Vegas recorded lower prices in July than in June. In the past year, prices are down 13.3% in the 20 cities. Prices are down 32.6% from the peak, and are now at levels seen in late 2003. [more...]

Date: 2009-09-29 20:56:30

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