Payday lenders short in first round to get issue to eliminate 29 percent loan cap on state ballot

COLUMBUS -- Payday lenders are likely to fall short in their initial effort to gather the valid signatures needed to qualify an issue for the statewide ballot that could eliminate a 28 percent cap [more...]

Date: 2008-09-17 04:16:22

Blog posts (248) | Videos (7)
 

White House Philosophy Stoked Mortgage Bonfire

The ReckoningBy JO BECKER, SHERYL GAY STOLBERG and STEPHEN LABATON“We can put light where there’s darkness, ... out the latest terrifying news: The credit markets, gripped by panic, had frozen overnight, and banks ... . There are plenty of culprits, like lenders who peddled easy credit, consumers who took on mortgages they could [more...]

Date: 2008-12-22 20:46:00

Nowick to Congress: Focus on the FDIC Issue Not Bankruptcy

By Irwin Nowick As everyone knows, with a lot of caveats and conditions I have given grudging support to the concept of a limited federal intervention in terms of buying up assets of distressed lenders. A number of very tough-love Roz Nowick-Barbara Greenwald conditions must be attached to this in terms of stock warrants, [more...]

Date: 2008-09-26 13:32:39

Put an experienced VC in charge of the TARP funds

News Report: BofA to access more TARP funds Not that it should come as a complete surprise, but Bank of America (BAC:NYSE) ... is close to getting billions of dollars more in federal support from taxpayers. As Congress debated ... -elect is being sworn in? In the venture capital world at least, VCs and venture debt lenders alike [more...]

Date: 2009-01-15 15:37:09

Refinance Mortgage Loan Guide

by John Bear Finding the best refinancing deal would have to involve comparing lenders, but we know for a fact that those numbers can get pretty complicated, especially when you are to investigate rates, fees, and points. But of course, if a mortgage company has the lowest rates [more...]

Date: 2008-12-27 09:57:55

Shop Online for Your Next Personal Loan

The technology of the Internet has made it possible to buy many things online and this includes being able to apply for and gain approval for a ... . Most lenders also have a free loan calculator on their sites. You can experiment with this calculator by entering various amounts and repayment terms to find how much your monthly payment [more...]

Date: 2009-01-06 07:00:04

Franken on Looming Credit Crisis

Al Franken’s been holding press conferences, roundtables and events around the state about where he stands on tons of issues ... in consumer debt, the average household’s credit card debt is over $8,500. I’m not sure why this isn’ ... said he would back a “credit card bill of rights,” crack down on predatory lenders and repeal [more...]

Date: 2008-08-14 09:21:12

How Do Lenders View Credit Counseling Services?

Typically consumers that have overwhelming debt have two options, either enter into a Consumer Credit Counseling Program or declare Bankruptcy ... Credit Counseling program for such reasons as it is more cost effective and easier to implement. Many credit card companies and creditors realize that it would be more beneficial to actually work [more...]

Date: 2008-12-09 00:04:36

Simple Tips On Refinance Mortgage Loan

by John Bear Finding the best refinancing deal would have to involve comparing lenders, but we know for a fact that those numbers can get pretty complicated, especially when you are to investigate rates, fees, and points. But of course, if a mortgage company has the lowest rates [more...]

Date: 2009-01-05 17:44:07

Paulson's $6 Billion Foot In The Door Play

The US Treasury continues to throw $billions around like peanut shells. Bloomberg is reporting Treasury to Buy $5 Billion GMAC Stake, Expand GM Loan ... in an e-mail.GMAC joins more than 190 regional banks, commercial lenders, insurers and credit-card issuers ... it has accepted all bonds tendered in a debt swap designed to reduce its debt load.“Once the [more...]

Date: 2008-12-30 05:04:00

MGM needs money more than fame

What's more important, fame or money? For debt-ridden MGM, the answer is money. Today, as the struggling studio opens in theaters a remake of the 1980 movie musical "Fame" — its first release in nine months and the only one for the remainder of the year — reports surfaced that MGM is begging its lenders to waive interest payments on its $3.7-billion debt until early next year. [more...]

Date: 2009-09-25 23:48:20

Hidden in the Stimulus Bill

Last December Higher Ed Watch caught wind of back-room maneuvering on Capitol Hill to retroactively change the way the federal government sets lender subsidies in the guaranteed student loan program. Education Secretary Margaret Spellings ... concern that the change sought by the Secretary (and the student loan industry) was being debated [more...]

Date: 2009-01-15 23:20:03

Foreclosures Up 81% in 2008

Will we ever get any good economic news?RealtyTrac, an online marketplace for foreclosure properties, found that a total of 3 ... , chief executive officer of RealtyTrac, in a press release. "The big jump in December foreclosure ... with programs from some of the major lenders and loan servicers aimed at delaying foreclosure actions [more...]

Date: 2009-01-16 00:56:39

?Countrywide VA Foreclosure

If you’re looking for a home at a bargain price, you may want to consider a Countrywide VA Foreclosure ... from the bank or lending institution, but the VA guarantees the loan. In spite of this, many ... loans, lines of credit and more. They are also the lender that handles more VA mortgage loans than any [more...]

Date: 2009-01-14 06:17:02

Foreclosure Scams To Be Aware Of

Homeowners facing foreclosure should be aware of unscrupulous lenders and scammers ... to them. They will then collect rent from the property and fail to make payments on the mortgage ... from liability of the debt. Consult with your attorney before agreeing to any deal that involved your home [more...]

Date: 2009-01-14 11:23:37

Debt Consolidation Glossary

Acceleration Clause Allows the lender in a loan agreement to demand early payment (sometimes in full) ... what is necessary. It is applied to the outstanding balance and allows a debt to be paid off more quickly. Adjusted Balance The remaining balance on a debt after payments have been subtracted from the original [more...]

Date: 2008-07-31 16:35:00

It Is Illegal Under RESPA to Require Even Prequalification With a Particular Lender

RESPA no person shall give and no person shall accept any fee, kickback, or thing of value pursuant to any agreement or understanding, oral or otherwise, that business incident to or a part of a real estate settlement service involving a federally related mortgage loan shall be referred to any person. Let me repeat the important [more...]

Date: 2008-12-16 14:43:35

The Facts on Poor Credit Loans

by katie George When a borrower has damaged credit it can make getting a loan difficult ... company is striving for because they are the best type of customer and will ultimately bring in more earnings for the company. Lenders generally charge interest rates that are far higher then average [more...]

Date: 2009-01-03 12:50:30

Rain City Mortgage Rates

Just a reminder that next Thursday is Thanksgiving and banks will be closed.  Our office will be closed until Monday, December 1, 2008 ... a mortgage with loan amounts of $417,001-$567,500 by the end of the year, please check ... that segment in advance of new loan limits.  It’s an odd limbo time for lenders as they try to wrap [more...]

Date: 2008-11-21 22:37:18

Learn The Art Of Making Money Online Line With Cash Jobs

Need money fast? click here now to find out how the pros do it! A personal loan is money you borrow from a lender for your own private use ... or remodeling, legal bills, and debt consolidation. The average personal loan maximum is $15,000. The amount ... . The lending institution can be a bank, investment broker, or private lending company [more...]

Date: 2009-01-15 15:53:26

Learn The Art Of Making Money Online Line With Cash Jobs

Need money fast? click here now to find out how the pros do it! A personal loan is money you borrow from a lender for your own private use ... or remodeling, legal bills, and debt consolidation. The average personal loan maximum is $15,000. The amount ... . The lending institution can be a bank, investment broker, or private lending company [more...]

Date: 2009-01-08 17:34:13

Everything You Need To Know About Student Loans

This entry is part 1 of 1 in the series Student Loans Ten years ago I received a piece of Bazooka Bubble Gum in the mail with a note from my student loan lender requesting payment saying “don’t blow it!” At the time I was extremely annoyed ... others through the student loan maze. Things To Consider When Taking Out A Student Loan Financial [more...]

Date: 2008-11-17 21:14:37

Your Credit Score is About to Become More Valuable

Your credit score is about to get a boost in value, at least as long as it is reasonably good. Because of the current economic crisis, many lenders are tightening their lending requirements, and having a higher credit score will make it easier for you to get a loan in this environment. Why [more...]

Date: 2008-09-30 11:44:27

Filing For Bankruptcy Concerns

A big concern for those Americans who choose to file Chapter 7 or Chapter 13 Bankruptcy is how and when they will be able to regain their credit ... you from getting new credit. Many lenders target recently bankrupt consumers as customers. And now is the time to begin credit repair. Immediately after a bankruptcy filing, you can expect credit [more...]

Date: 2009-01-16 04:23:05

Repossession

Repossession is when a lender takes back the property you have purchased, leased, or put up for collateral ... and will only do it as a last resort. How We Can Help You If you’d like to know more about credit repair, you can speak to a credit analyst at CreditLawGroup today by calling 1-800-508-0041 [more...]

Date: 2009-01-04 01:30:59

FHA Credit Guidelines

FHA Credit Guidelines which borrowers and lenders must follow in order to obtain FHA financing for purchase and refinance loans ... of blemish, how old is the derogatory credit, what caused the late payment or collection & alternative ... recent debt to find out if is being used toward the cash required for the down payment. Also, any [more...]

Date: 2009-01-02 17:18:26

Mortgage cram-downs - I find them hard to swallow

Here’s a real estate term that appears to be gaining popularity its called “mortgage cram-downs ... modifies a loan, often reducing principal so a borrower can afford it. Lenders hate it because they have to absorb the loss. Bankruptcy judges currently have the ability to modify certain personal loans [more...]

Date: 2009-01-08 16:24:50

Why You Should Not Refinance Just to Lower Your Payment

I keep talking with people who don't understand that a higher interest rate on a refinance can result in a lower payment even though the cost of ... (or a House) Based Upon Payment. There are all kinds of games lenders and loan officers can play ... loan five years ago for $300,000 at 6% on a thirty year fixed rate basis. Your payment [more...]

Date: 2008-10-18 14:47:33

Cram Down Nation: Do Lenders Fear Obama?

Cram Down Nation: Do Lenders Fear Obama? ... to reorganize an individual’s debt, but it does not give them authority to fundamentally alter a person’ [more...]

Date: 2009-01-14 15:39:42

Yet Another Reason to Hate the IRS (and OCC)

Photo by SC Fiasco As if it weren't hard enough to get banks to offer workouts to overindebted consumers! ... lenders want to forgive significant portions of credit card debt that borrowers can't currently repay ... to expand credit card debt forgiveness. According to the Financial Services Roundtable (whom I don't [more...]

Date: 2008-10-30 20:11:13

American Express: Don’t Leave Home Without Uncle Sam

In Shakespeare’s “Hamlet,” Polonius advises: “Neither a borrower nor a lender be ... % for the year (though up ever so slightly, two cents, Friday). In freezing the debt markets, the credit ... One of them is American Express. It has been a tough week for the charge card issuer, whose stock [more...]

Date: 2008-12-12 19:47:00

Mortgage refinancing skyrockets

With U.S. mortgage rates the lowest in 30 years, local lenders say they’ve seen a strong surge in loan applications as homeowners seek to refinance their mortgages in Greater Cincinnati and Northern Kentucky. From the largest commercial banks ... percent for a 30-year, fixed-rate mortgage with no points, according to data from the Cincinnati [more...]

Date: 2009-01-06 06:58:34

Cheapest Remortgages

Cheapest Remortgages Posted by Dark Spider at December 28, ... necessary for a home owner to try and refinance a mortgage loan that he or she could have availed ... or expanding the house or even for debt consolidation. Lenders will have to assess a borrower [more...]

Date: 2008-12-28 12:08:00

Financial Freedom Awaits

It is often times hard to change the way you spend money and be able to save some for future expenses ... those debts. With experts in the field of debt consolidation and government debt consolidation loans ... with our budgets and as a result we become slaves to the lender. There are many ways to get out of debt [more...]

Date: 2008-11-26 02:05:41

Property expert: Can I lend or donate money to my children?

Q I am over 70 and have at least £100,000 in an e-savings account, as well as £35,000 in fixed-rate bonds ... to reduce their outstanding debts, but would it be better to concentrate on the fixed-term loan ... at a rate of interest that is lower than that they are being charged by their mortgage lenders [more...]

Date: 2009-01-14 00:10:01

Moral Hazard….

Barry Ritholz at The Big Picture had these two comics that brought to the forefront again the issue of moral hazard ... or Freddie buy it? That’s all that most mortgage lenders really cared about when structuring a loan ... , $10.1 billion in loan loss provisions in the last 12 hours. That’s for a period of 90 days folks [more...]

Date: 2008-07-23 00:51:33

Types of Credit Repair Services

Types of Credit Repair Services December 31st, 2008 Subscribe To Our Feed Unfortunately, the world is set up to encourage borrowing ... loan, you’ll need an unsecured credit card and a lender to get by. Americans with credit scores ... ll learn how to permanently stay out of debt and rebuild a positive credit history through [more...]

Date: 2008-12-31 20:38:00

Termite Work, Wood Destroying Pest Agreements, and Lender Requirements

Every purchase contract I write includes an addendum for Wood Destroying Pests ... , can we back out? 3. Is the VA loan going to hinder this or is it a simple matter of writing another ... taking as security for the loan. They could very well end up foreclosing upon a property that cannot [more...]

Date: 2008-12-29 14:56:13

TARP + Congress = The Definition of Insanity

That is the question all taxpayers should be asking our incredibly inept and corrupt Congress ... by doing subprime, Alt A and Option ARM loans with no regard to borrowers ability to repay those loans ... was one of the more stable lenders in that they did far less subprime and exotic loans than most [more...]

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

Subprime Loans

Subprime loans are probably the one thing that we can put a finger on that has led us to this mortgage disaster ... to individuals who had credit scores well below 680.  It was almost as if these subprime lenders were willing to give anyone over the age of 18 with a beating heart a mortgage loan.  Sadly [more...]

Date: 2009-01-15 02:59:14

Ten Mortgage Tips I Learned From Past Three Home Purchases

Bottom Line: I highlight some of my personal lessons learned from three home purchases conducted over the past six years. 1. Read “106 Mortgage Secrets All Home Buyers Must Lean – But Lenders Don’t Tell” by Gary Eldred, PhD. First third of book is dedicated to people that need help with credit or qualifying for expensive [more...]

Date: 2008-12-25 15:00:00

Get Your Bailout With Two Easy Pages

So just how tough is it for a bank to apply for a bailout? Not very: WASHINGTON - Ever need a college loan? ... the five-page Uniform Residential Loan Application. But what if you’re a bank looking for a few ... bailout plan in need of more accountability and oversight. "When student lenders and mortgage [more...]

Date: 2008-12-16 07:24:55

'No on Issue 5' press conference today

COAST, Coalition Opposed to Additional Spending and Taxes, will be in Toledo this morning for a press conference against Ohio Issue 5, ... Substitute House Bill 545 (H.B. 545), which was passed by the Ohio legislature and signed into law by the Governor, substantially changed the law regulating how certain lenders in Ohio operate. Under [more...]

Date: 2008-09-30 12:52:56

Mortgages: How much can you afford?

The American sub-prime crisis has rippled across the pond so that Britain too is feeling its ill effects ... lenders will try to work out a debt-to-income ratio so that they can work out how much you can afford ... taking on ever increasing levels of personal debt, many of those people were unable to pay back [more...]

Date: 2008-12-03 04:24:04

What You Should Do To Find Out About Raising Credit Rating Before You’re Left Behind

The recent rise in consumer debt has many people in this country struggling to get credit of any type, however, ... to get a loan or credit card but invariably these cost the consumer more because of their situation ... for lenders with low credit loans. What most consumers do not realize is the more often you apply [more...]

Date: 2008-11-25 14:10:28

Roger Baker : Capitalism and its Minsky Moment

Minsky's Burlesque. Photo by Peter Stackpole, 1938 / Life / © Time Inc ... the mountains of debt they took on to acquire them. Losses on such speculative assets prompt lenders ... the risk through derivatives, basically default insurance based on good-time thinking. This risk [more...]

Date: 2009-01-15 03:01:00

‘Exit’ Sign Flashes at Merrill Lynch After BofA Deal

‘Exit’ Sign Flashes at Merrill Lynch After BofA Deal Posted by Heidi N. Moore Bank of America closed its acquisition of Merrill Lynch on Jan ... Capital Management, a $30 billion investment firm and lender with a special focus on distressed assets ... s expansion into leveraged finance and debt underwriting, helping it overtake Salomon Brothers as [more...]

Date: 2009-01-11 02:38:56

Some Free Advice About Real Estate Transactions

Most days I get loan wholesalers coming into my office ... , but that's cool. I'll price loans with them anyway, and if they're the best I can do for the client ... they have to pay in order to get it. This comes back to The Trade-off Between Rate and Cost. If one lender's par [more...]

Date: 2009-01-09 14:40:27

What Every Consumer Needs to Know

What Every Consumer Needs to Know Building good credit history is extremely important to one’s life ... that control credit. These rights have been stated as provisions on Fair Debt Collection Practices ... so as to bear witness on whatever maltreatments or unduly practices of debt collectors and lenders. Fair Debt [more...]

Date: 2009-01-07 12:47:09

Stop Home Foreclosure Now By Applying These Steps

High foreclosure rates are a sad measure of the condition of our economy ... . Credit Card companies will often reduce your minimum monthly payment. Mortgage lenders can make a loan modification that can make your mortgage terms more affordable. Find a foreclosure specialist [more...]

Date: 2009-01-12 09:34:41

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