Six Steps To Stem The Foreclosure Crisis

On January 7, President-elect Barack Obama declared his intention to address the foreclosure crisis soon after being sworn in ... the foreclosure crisis is expected to worsen. At the end of last year, credit agency TransUnion estimated ... Mortgage, American Home Mortgage Servicing, and Aurora Loan Services (a subsidiary of Lehman Brothers [more...]

Date: 2009-01-16 19:15:34

Blog posts (16) | Videos (3)
 

More Trouble Ahead

by hilzoy From the Washington Post: "Consumers are increasingly unable to pay off their credit cards, ... credit, the latest downturn to whack Americans after the housing slump and mortgage meltdown ... a spike in credit card loans going bad, putting further pressure on already-stressed balance sheets [more...]

Date: 2008-10-22 02:21:35

Have You Delayed Your New Car Purchase? You’re Not Alone!

For the year just ended, three million fewer cars were sold then in the previous year, for the American market alone ... mortgage meltdown, high gas prices and tight credit. The latter, particularly, made it difficult for Americans to buy new cars as credit standards were tightened, shutting out hundreds of thousands [more...]

Date: 2009-01-09 07:33:10

The Gasoline Tax And The Renaissance Of The Bicycle

With the rise of the US automobile industry, the bicycle almost disappeared as a means of transportation in America ... -guzzling ways." It's better to use the money for mortgage payments, credit card debt, or a rainy day ... American public roads in good repair. They determined that the deficit between revenue and expense [more...]

Date: 2009-01-02 00:31:42

JPMorgan temporarily stops foreclsures

Are they being nice or just plain practical?JPMorgan Chase the nation's largest bank and one of its biggest mortgage lenders, ... . The global credit crisis, which began with subprime mortgages, increasingly appears to be affecting a wider range of consumer loans and, according to a report published by First American CoreLogic Friday [more...]

Date: 2008-11-02 09:41:00

What to do if you’ve been turned down for a loan

Turned Down For a Loan?  Improve Your Loan-Ability! This article was written by Becky House, Education Manager for American Financial Solutions. For more information about credit scores, budgeting or managing your debt, visit MyFinancialGoals.org or contact Becky at 1.800.894.3946. Two years ago, someone with a 600 (poor) credit score could qualify for a mortgage or car loan. Now, reputable lenders will not even consider lending to someone with a score below 700. [more...]

Date: 2009-09-26 14:37:00

What to do if you’ve been turned down for a loan

Turned Down For a Loan? Improve Your Loan-Ability! This article was written by Becky House, Education Manager for American Financial Solutions. For more information about credit scores, budgeting or managing your debt, visit MyFinancialGoals.org or contact Becky at 1.800.894.3946. Two years ago, someone with a 600 (poor) credit score could qualify for a mortgage or car loan. Now, reputable lenders will not even consider lending to someone with a score below 700. [more...]

Date: 2009-09-26 14:37:00

N.J. man learns modifying mortgage to cut payments may impair credit rating

by Moe Bedard on September 29, 2009 · 0 commentsin American Nightmare To confuse consumers even more, not all lenders follow the guidelines.That may change on November 1, when lenders can use a new code to report them as a “loan modification under government program.” The code will clarify which borrowers have taken modifications, but because the modification process itself is not streamlined, it won’t be the only worm squiggling out of the can.The bigger impact on credit scores may depend on how [more...]

Date: 2009-09-29 13:48:05

How To Find A Reputable Credit Repair Company To Help You Fix Your Credit

More people seem to be looking to companies that offer credit restoration these days. As people are waking up in the aftermath of an economy and mortgage crises that seems to have affect tens of millions of Americans, credit repair seems to be a high priority. This is the only way to move forward. [more...]

Date: 2009-10-01 09:42:26

American Express Delinquencies Hit 4.4%, Defaults 6.96%

Bloomberg is reporting American Express Delinquencies Rise to 4.4 Percent.American Express Co ... basis points over LIBOR last week.Further evidence of a credit freeze can be found in mortgage ... . had its highest monthly increase in credit-card delinquencies on record in October as jobless [more...]

Date: 2008-11-19 05:58:00

Economy Shrinks as Consumers Cut Back

Economy Shrinks as Consumers Cut Back By David Leonhardt Updated at 11:30 a.m. The longest American shopping spree on record is over ... in the form of home-equity loans, mortgage refinancings and credit-card loans — to continue spending. But the housing bust, the resulting credit crunch and the deteriorating job market have forced many people [more...]

Date: 2008-10-30 12:51:57

Refinances Booming? Not As Much As You Think

Discount all the reports you read about Americans lining up to refinance their mortgages and take advantage of the lowest rates ever ... , most often because their credit isn’t good enough or they don’t have sufficient home equity ... These are people who have good credit, who have had been in their homes a long time, people who already [more...]

Date: 2009-01-16 00:46:03

Bailout money is never enough to save us

The remaining $350 billion is going to be thrown down the toilet along with the rest of the bailout money! There is no more American government, no checks and balances. Obama would have vetoed Congress ... Reserve. There’s a ton of credit card defaults, Alt A mortgages, and auto loan defaults crashing their way [more...]

Date: 2009-01-16 20:14:09

10% OFFICE VACANCY RATES IN EVERY MAJOR AMERICAN CITY…now building owners are struggling to pay their mortgages

from the NEW YORK TIMES: As Vacant Office Space Grows, So Does Lenders’ Crisis Michael Stravato for The New York Times MainPlace, ... from banks to the credit markets will make that difficult — even for borrowers who are current [more...]

Date: 2009-01-05 07:03:47

Consolidate credit card debt with debt consolidation - Loan Modification not the answer

Amazon.de Widgets Consolidate credit card debt with debt consolidationThe move by the FTC comes as federal and state officials plan to expand a crackdown on mortgage-related scams to other schemes that prey on debt-ridden consumers.. Try Credit card debt consolidationCan’t Pay Your Bills? You’re not alone. Today, millions of Americans are having difficulty paying their debts. Most of those in financial distress are middle-income families with jobs who want to pay off what they owe. [more...]

Date: 2009-09-23 18:54:41

Did Biden have a hand in worsening the mortgage crisis?

That what some experts are saying:Experts say hundreds of thousands of Americans may have lost their homes due to a bill championed by Sen ... and credit industry disputes it. From a political perspective only, you have to wonder if this will be played up as something Biden did because his son was associated with the credit card industry (a *gasp [more...]

Date: 2008-08-28 12:03:04

16 Results