Credit card debt, home mortgages and a host of other financial woes have been the cause of an increase in bankruptcy filings for the current year. Compared to one year ago the total bankruptcy filings for the US increased by 28% in the third quarter of this year. This is also an increase of nearly […]
Of all the states, California is being impacted the most by the recent housing foreclosure crisis. California Governor Arnold Schwarznegger has been working with lenders from Countrywide, GMAC, Litton, and HomeEq to reach an agreement to streamline what is being called “fast-track” procedures to assist those sub-prime borrowers who are at risk of losing their […]
It may be too little too late for some homeowners but Congress is currently considering legislation that would allow bankruptcy-court judges to redefine home loan terms for people who are at risk of losing their homes. Supporters of this legislation say it could help save half a million homes from foreclosure through early 2009.
If the […]
Experian has recently announced that it is teaming up with Discover Financial Services to provide what they are calling Credit Score Tracker. This is a comprehensive tracking product for credit scores and is being offered to over 50 million current card members.
Credit Score Tracker can assist Discover card holders to understand what issues affect their […]
It was only a matter of time before the current housing problems would begin to spead into other industries and markets. The credit card market, as well as the auto loan market, is now experiencing some of the slow down in credit that the housing markeet is already seeing.
Some of the biggest banks and credit […]
The House of Representatives unanimously approved new legislation that would allow for tax benefits and access to low interest home loans for military personnel.
The bill passed with a staggering 410-0 approval vote. The bill, as written, is a $2.3 billion dollar bill and is only one of several bills expected to be brought up in […]
On Wednesday, November 7th, the Federal Reserve announced that consumer credit increased for September at a yearly rate of just under 2 percent. This was the slowest increase in rate since last April. Economists were surprised by the rate for September, stating that it was about one half of what they had expected.
Many experts blamed […]
There is one thing you can count on from crooks and scam artists and that is when good people are in trouble they - the scam artists - will come out of the woodwork with all kinds of offers to “help”. With many of today’s consumers facing dire times with mortgage debt, credit card debts, […]
With more and more consumers facing critical debt issues from high mortgage payments that they cannot always make on time to insane credit card bills each month, it is no wonder that debt collectors are working overtime to get borrowers to pay what they owe. But there are some rules as to what they can […]
In very simple terms, there are two types of bi-weekly prepay mortgage plans: those that charge fees for this service and those that do not charge fees. In both cases, they do, indeed, lower the amount of interest that you will have to pay on your mortgage loan, but is paying fees for this service […]