Don’t Pay Off Bad Credit

Step three in the “Should I Buy a House Now” series is somewhat of a sidetrack ... towards housing payments. Step 3) Start Improving Your Credit Rating This can take a long time ... your bills on time, that you have good credit.  Paying your bills on time only accounts for 30% to 35 [more...]

Date: 2008-11-11 17:02:59

Blog posts (117) | Videos (103)
 

Topics In First Time Mortgages Explained

Topics In First Time Mortgages Explained Posted By Chris Channing on @ 11:30 pm by Chris Channing When it comes time to buy a house or vehicle, ... locations. Having a bad credit score often hinders many from even attempting to obtain a mortgage loan. This shouldn’t be a deciding factor, since many lenders these days expect most to have a less [more...]

Date: 2008-10-21 04:30:38

Houses, Credit Reports, Lenders….ACK!

Wondering about buying your first home? Are you ready to move up or down-size? Have you heard they aren’t making loans any more? ... gift’ you cash for a down payment. AND *You don’t need stellar credit with FHA loans! Bad things ... your needs. *Good credit; your credit score needs to be 620 or higher, in most but not all cases. FHA [more...]

Date: 2008-11-08 12:00:06

How To Buy A House

There has been a lot written about the mechanics of how to buy a house ... again you might even need a down payment to get a loan. A bad credit rating no longer just means ... . But what if you can’t get preapproved? What if you have little income, bad credit or other serious problems [more...]

Date: 2009-01-13 02:01:00

Repairing Bad Credit - Things You Need To Know

If you plan on buying a house, a car or foresee needing a loan for something, then it’s important to improve credit, ... and a score in the 700s can end up costing you thousands of dollars in interest. Bad credit repair isn’t something you can pay a nefarious character to just “erase.” Your credit score is designed to let [more...]

Date: 2008-12-09 10:57:47

Bad Credit? Have We Got a Mortage for You...

From Giovanni Diviacchi:My wife and I want to buy a house, but we found that the only mortgage that we were eligible for was a new product called a Late Payment Mortgage.  It's for people with really bad credit.  The bank gives you a lower interest rate if you let them begin foreclosure proceedings at the closing table.***Giovanni Diviacchi is a business analyst and stand-up comedian in  Washington, D.C. [more...]

Date: 2009-06-13 10:00:00

Bad Credit Loans

Are you short of money? Scared that you may not be able to buy your own house you promised your wife this birthday? ... to know more visit the site. They also have extensive material on how to clean up and repair bad ... Planning to apply for a loan but don't have a good credit to get one? Then stop worrying. Bad [more...]

Date: 2009-01-12 16:38:32

Why buy when you can rent?

for-rent-2.gif There are times besides a bad housing market that renting is the smart thing to do, suggests Christine O’Kelly at Beal Properties ... . A ding on your credit. It will buy you time to improve your credit score and save for a down payment [more...]

Date: 2008-09-04 02:07:37

Prefab Housing: 2 Diamonds (SKY, CHB) In The Real Estate Rough

Sometimes the worst markets hide the best profit opportunities. And you don’t get much worse than the housing market at the moment ... for buying stocks in bad industries. Jeremy Siegel, one of Wall Street’s best investment minds, said ... at a steady clip for one obvious reason: in today’s credit crunched economy, people are looking for low-cost [more...]

Date: 2008-11-14 11:34:02

UPDATED: Senate buys into the Wall Street buy out… Obama: John Q Public too stupid to know what’s good for country… George Soros says buy out won’t fix credit problem

Putting increasing pressure on the House “no” voters to fall in line, the Senate voted (74-25) overwhelmingly in favor of a $700 bil government purchase of bad debt from Wall Street … with lots ... (increasing FDIC insurance limits). The basics remain the same. The government will buy bad assets [more...]

Date: 2008-10-02 02:59:48

Bad Credit Car Loans

The worst case credit scenario for all of us is bankruptcy. I read an article by a bankruptcy attorney once that people’s biggest fear when they’re deciding whether to go through bankruptcy is that they’ll never be able to own a home again and they’ll never be able to buy another car. Those fears aren’t really justified, but it’s true that borrowing for cars and houses is going to get much tougher after you’ve gone through the big BK. [more...]

Date: 2009-08-15 13:17:19

FHA Loans- Affordability Solutions for First Time Homebuyers

Author: Jared Martin “FHA” and “First Time Homebuyers” are real buzzwords as far as home buying is concerned, ... . The intent of this article is to quantify the features of this loan, both good and bad, and discuss ... Housing Authority. Recent events in the credit markets have made the FHA loan a true affordability [more...]

Date: 2009-01-02 03:10:31

If You Were Sec. Paulson for a Day: A Foreclosure Clearing House?

On one of many flights this week I was asked the question, “what would you do with the $700 billion of bailout money? ... more to the story but for the sake of brevity we’ll leave it at that. 2) Credit liquidity in the current market ... by the government buying up the bad assets, giving capital to the banks in return for equity stakes [more...]

Date: 2008-11-13 16:32:03

HOUSING PUSH FOR HISPANICS SPAWNS WAVE OF FORECLOSURES

For years, immigrants to the U.S. have viewed buying a home as the ultimate benchmark of success ... loans, which carry high interest rates and are tailored to borrowers with low credit scores or few ... the housing boom. But when these markets began to weaken, bad loans depressed the value of neighboring [more...]

Date: 2009-01-06 13:19:54

Die Broke: A Radical Four-Part Financial Plan

Conventional money wisdom focuses on saving. If you earn more, limit expenses, and plan properly, ... ) Pay Cash (reserve credit for times when you cannot pay cash, like buying a house or a car) Don’ ... off of a cliff) Die Broke (unnecessarily saving for an inheritance can be bad for families, bad [more...]

Date: 2008-12-19 08:37:19

Why Does Anyone Think the Recession is Bad for Apple?

Why Does Anyone Think the Recession is Bad for Apple? 12:01 am, November 20th, 2008, Pete Mortensen AAPL Growth.png ... from one of the world’s largest companies, showing that the current credit crisis doesn’t actually ... player market. When people aren’t buying cars and houses, they still find time for personal entertainment [more...]

Date: 2008-11-20 08:31:18

Should You Invest In REIT?

With the current housing market meltdown, it’s hard to think about investing in real estate ... with maintenance — i.e., answer midnight phone calls to go fix the toilet. You don’t have to deal with bad ... . Moreover, the current tight credit market and lack of cash makes it even harder to buy [more...]

Date: 2008-10-23 03:39:11

The Ups and Downs of Buying a Home

Pretty soon this will be our yard! We’ve been on the home buying roller coaster for almost a month now, ... .  We meet my dad at the house and tour the inside.  It’s in bad shape, but we like the lot ... the numbers, checks our credit, and determines that we should have no trouble qualifying.  That night [more...]

Date: 2008-07-24 11:00:15

Was the Bailout Too Costly?

Was the Bailout Too Costly? Written by Credit Karma October 13th, 2008 at 10:25 PM CDT No comments According to numerous sources at this point, ... of the issue, which is fixing the housing crisis and creating jobs.” She was quotes as saying in a recent ... as $700 billion dollars to buy off bad mortgage security as well as other devalued assets that [more...]

Date: 2008-10-14 04:26:06

House approves bailout: $700-billion-plus

by Mark Silva and updated at 3 pm With the House's second and successful vote on a $700-billion federal rescue of the nation's financial markets ... at freeing a freezing credit market for businesses and consumers alike. It authorizes the Treasury to start buying as much as $700 billion in bad mortgage-related debts from banks and other financial [more...]

Date: 2008-10-03 19:06:58

AMC, Wells (Appraisal - a Must Read) , US Bank, GMAC updates; MortgageIT gone, What’s with the buy-ups? Rates tumble

The economy is pretty bad right now. Yesterday I was putting a foreclosed sign on my house, and while I was doing that, ... this decision based on the struggling economy, the credit crisis, and the integration with Merrill Lynch [more...]

Date: 2008-12-12 15:11:03

How Wall Street’s Meltdown Helps Main Street’s Housing

Just for fun, let’s imagine a possible silver lining to the complete melt down on Wall Street ... to extend car loans, credit card debt, retail debt and so on.  But this may not be all bad ... are up and his long commute is killing them.  They need to buy a different car.  “But no one is lending money [more...]

Date: 2008-09-19 13:00:15

REPORT: Credit lines increasingly hard to come by for auto dealers

Filed under: Car Buying Like him or loathe him, George W. Bush's clearest, most salient speech came almost a year ago on September 25, 2008 when our Harvard MBA president explained to the nation and the world exactly how bad the economy had gotten and why so much federal money ($700 billion-ish at the time) was being hurled at America's banks. The full speech can be found here , but one little section bears quoting: The decline in the housing market set off a domino effect across our economy. [more...]

Date: 2009-09-03 15:02:57

How to Replace Bad Financial Habits With Good Ones

This is a guest post from Leo Babauta of Zen Habits. His first book, The Power of Less, was recently published by Hyperion ... full of things we don’t need, bills we can’t pay, and low balances in our checking and savings accounts ... situation? Some ideas: Impulse spending. Overuse of credit cards or other debt. Spending without tracking [more...]

Date: 2009-01-14 13:00:09

Blocking, Tackling & Running: Leveraging a Crisis Into Real Change

There's a fairly well known cartoon of two scientists working out a problem on a chalkboard covered with complex equations and down in the circle is a little circle with the key step inserted in small print - "and then a miracle occurs". Wouldn't it be nice if we could take the same short-cut to fixing the horrendous shopping list of significant [more...]

Date: 2009-01-16 20:07:11

The Psychology Of Gambling

Check out my Big RSS Subscriber Contest after reading this article. This might seem like an odd post for this blog, but stick with me for a bit. Over the last couple of days, I’ve read some stories about people in positions of some type of authority that have been caught stealing money from their organizations and using that money to support [more...]

Date: 2009-01-17 19:44:58

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

1/16/09 (Banks struggle, TARP round two, MLK)

Traders, Interesting action yesterday – the market sold off pretty hard and then rebounded and closed up at the end of the day. Investors seem to be taking the bad news very well – maybe they are just Punch Drunk – like Rocky ... asset can show a revenue stream. Example that he gave – a house which might not sell [more...]

Date: 2009-01-16 14:29:00

Bail Me, Stimulate Me

In a week that signaled much worse is coming, perhaps the more dismal indication on the financial front was that Democrats finally had a chance to ... the kind of behavior that got us here: more bad loans to the wrong people won't en our crisis; they make ... . If that sounds bad, it shouldn't; this week's debate on TARP had essentially the same contours [more...]

Date: 2009-01-16 20:24:10

A consumer complaint about Consumer Reports

This story just drips with irony! 2 ... be trusted. No fault of theirs, my credit card number got out to some bad guys in Malta or Africa, and the credit card company detected it, contacted me as I was checking into a hotel in NY (by declining [more...]

Date: 2009-01-12 13:57:29

Painful eyes

A lot of emails come my way every 24 hours. Some stand out. Like this one. Not just that she’s a realtor who likes me ( ... to holding mortgage and credit card debt to the tune of 75 Billion, they say well that’s normal that’ ... citizens have become. Not just because she now laments the influence of cheap credit and easy money [more...]

Date: 2009-01-17 03:17:13

No Taxation Without Inflation

While reading a short essay by Donald H. Grove, I was pleasantly surprised to learn of Michele Bachmann (R-Minn.) who “is a member of the House Financial Services Committee helping to hold the line against Chairman Barney Frank”, which automatically makes her one of my favorite people, [more...]

Date: 2009-01-15 18:40:26

Friday Stories: Hero Pilot, Bad Birds & Sea Kittens

Stories I’m watching this Friday: Everyone lives, the pilot averted disaster by ditching in the river, and ordinary humans acted like heros ... American help in the oil business Peru must not have a great credit score MarketWatch: 6 brutal facts you need to realize about your retirement Good for you, bad for phone companies: possible cell phone [more...]

Date: 2009-01-16 03:49:36

Things You Tend Not To Spend Much Time Thinking Seriously About When Making A Decision To Relocate

I have had this item on my blogging to-do list for probably 18 months now, without attempting to address it ... s start with credit history, something discussed in this blog a long time ago. Or, rather, your lack of such overseas, which will hamper your efforts to obtain auto financing or even apply for local credit [more...]

Date: 2009-01-15 20:29:06

On ABC, Dem Barney Frank Rages at 'Distortions' of Chris Cuomo

"Good Morning America" news anchor Chris Cuomo on Tuesday actually challenged liberal House member Barney Frank over how Congress has spent the ... to the working men and women? Why didn't you do that first?" However, Cuomo should be given credit ... attacked, "Mr. Chairman, your title is Chairman of the House Financial Committee. I mean, certainly [more...]

Date: 2009-01-06 22:46:46

Gates of Vienna News Feed 1/8/2009

The latest word is that an agreement with Russia has been reached, and the flow through the gas pipeline will resume.Also, look for the storming of the Israeli consulate in Montreal, as well as other Gaza-inspired violence around the world.Thanks to AA, Abu Elvis, Insubria, JD, Tuan Jim, Vlad Tepes, and all the other tipsters who sent these in [more...]

Date: 2009-01-09 04:49:00

No Taxation Without Inflation

by The Mogambo Guru While reading a short essay by Donald H. Grove, I was pleasantly surprised to learn of Michele Bachmann (R-Minn.) who "is a member of the House Financial Services Committee helping to hold the line against Chairman Barney Frank", which automatically makes her one of my favorite people, [more...]

Date: 2009-01-14 22:19:52

Why Are My Credit Cards Being Canceled?

In today’s economy, credit card companies are changing interest rates at whim (at least until the new credit card laws go into effect…in July 2010 ... . And this could ding your credit score a little bit, which is not something you really want to happen ... by following this simple tip - it helps your credit score and it lets you keep all your available cr [more...]

Date: 2009-01-07 16:59:00

Предсказания Кюнстлера на 2009 - США, Нефть, Геополитика, Путин

Спонсор месяца - #1 RX pharmacy affiliate program!Сайт дня (как попасть) - http://www.business-magazine.ru/There are two realities "out there" now competing for verification among those who think about national affairs and make things happen. The dominant one (let's call it the Status Quo) [more...]

Date: 2009-01-01 07:59:00

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

Stimulus Package 2009: Lightning Round Reactions

The Democrats in the House of Representatives introduced legislation this week containing $825 billion in new tax credits and government spending, ... cuts for clean, renewable energy including a new enhanced tax credit for research and development ... extension of the production tax credit for wind, hydro, geothermal, and bioenergy.  Ditto.  Go to hell [more...]

Date: 2009-01-16 15:30:30

MITCH ALBOM ON DETROIT

The Courage of DetroitOver the Christmas Holidays Mitch Albom was invited by Sports Illustrated magazine to write something about the plight and pulse of Detroit. A lot of it touches Windsor too. Here it is:This was Christmas night. In the basement of a church off an icy street in downtown Detroit, four dozen homeless men and women sat at tables [more...]

Date: 2009-01-16 14:38:00

Where were you when the world ended?

Being a spoiler-filled (except for the final issue) narrative of your Winter Men reading experience, in nine (somewhat lengthy) parts. Part the First. Sometime around 10 August 2005. Your trip to the local comics-purveying establishment rewards you with a new comic written by a Mr. Brett Lewis and drawn by a Mr [more...]

Date: 2009-01-11 16:25:10

The Breakdown of the World Money Machine

A bad year…and 2009 doesn’t look much better…the worldwide financial crunch is affecting everyone… 2008 will go down as the worst year for investors ... s the first priority. I have to feed them…and buy medicines and fertilizers…even though nobody is buying ... money because they can’t get good prices for their cows…and can’t get credit from the bank [more...]

Date: 2008-12-30 20:49:57

Lending Woes: A Deeper Consumer Analysis

This may seem like an odd analogy, but I remember this story about my Mom when she was having her 7th baby ... for the Subprime Crisis.   Subprime loans did not come into being in late 2003.  2003 is the year more people ... You can’t get a good loan, but we can find you a BAD loan, if that’s what you want.”  Most people said [more...]

Date: 2008-12-29 21:19:46

Deals of the Day: Citi’s Split Personality

Deals of the Day gathers all the biggest news of the morning related to mergers and acquisitions, bankruptcies, financing and private equity ... of America’s credit-loss provisions surged, while a preliminary loss of $15.31 billion at Merrill Lynch ... to Citigroup on business cards, brochures and marketing materials, Bloomberg reports. Bloomberg Today [more...]

Date: 2009-01-16 14:02:58

Fixing the Unemployment Outlook

by The Mogambo Guru Mish Shedlock at globaleconomicanalysis.blogspot.com has looked at the latest Z1 Flow of Funds report, and found that "$7 ... of 2008, is also as bad as it looks, then "roughly $10 Trillion in household wealth ... !), PLUS give me a tax credit (which is cash in my pocket!) for, oh, say, 10% of what I spent, as a sort [more...]

Date: 2009-01-02 20:04:08

Gates of Vienna News Feed 1/6/2009

Tuan Jim sends an string of important news articles about the gas pipeline crisis caused by the deadlock between Russia and Ukraine. He notes that the affected countries are dusting off alternative sources of energy — fuel oil and nuclear reactors — for electricity generation.Thanks to AA, Abu Elvis, C [more...]

Date: 2009-01-07 04:50:00

Buying a House - Can Anybody Do It?

Anybody can buy a house. There are several ways: you may need to fix your credit to get financing, or find a real estate investor to buy a house ... that there is no way you can afford it. It could be crushing blow. This could lead to bad feelings ... and bills. You need to know the amount of money you have to make payments on a home. Remember [more...]

Date: 2009-01-17 10:30:29

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

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