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  • What To Do If You Fear Defaulting On Student Loans
    For many, that student loan is the only way to reach that higher education. College is a vital step especially in today’s world where not only skill and experience is valued but so is education. With this in mind, students are using grants, scholarships, and even loans to reach their dreams and to achieve that [...]
    [June 30th, 2008]
  • US Foreclosure Rates at Record High
    The US housing market is still experiencing fallouts from the credit crisis, according to information made available earlier today. The Mortgage Banker’s Association has reported on Thursday that the amount of foreclosures has risen by more than 70% during the first quarter of 2008. That data reflects the fact that almost 1% of all mortgages [...]
    [June 30th, 2008]
  • Mortgage Rates Fall to a Monthly Low
    For 30-year mortgages, the rates have managed to drop recently to the lowest level in a month, which provides a much-needed sense of good news for people interested in buying homes. According the reports issued by Freddie Mac, a leading mortgage company that evaluates the state of the industry, 30-year mortgages with fixed rates managed to [...]
    [June 28th, 2008]
  • The Uses Of Payday Loans
    Loans are not exclusive to large sums of money like those needed for mortgages or buying cars. Many times loans are small, only a few hundred dollars, and are only needed for a few days up to a week. These loans can be granted through Payday Loans. Payday Loans are short term loans usually between $100 [...]
    [June 27th, 2008]
  • Job Loss not as Bad as Original Predictions
    Since the beginning of 2008, almost every U.S industry has seen drops in payroll, ranging from retail to the auto industry. Hundreds of businesses have been slashing jobs in order to make ends meet, leaving a large number of people without employment. For the fourth straight month in a row, employers have trimmed jobs in [...]
    [June 25th, 2008]
  • U.S. Foreclosures go up by 65%
    With the American economy lurching forward against a weakened dollar and the soaring costs of gas, food, and other consumables, the average citizen has been hit hardest by the bursting bubble of the previously soaring mortgage industry, which has resulted in a devastating hit to the economy with many experts believing that the mortgage crisis [...]
    [June 25th, 2008]
  • The Criteria Lenders Look For When Handing Out Loans And Credit
    Searching for a loan has never been an easy process and with the recent credit crunch that process is all the more difficult. While lenders were far more easy going when it came to dishing out loans a year ago, the sub prime mortgage crises and the resulting negative effect has caused those lenders to [...]
    [June 24th, 2008]
  • Don’t Rush Your Mortgage Payments: Invest in Retirement Plans Instead
    When take out a mortgage loan to buy a house, the first impulse is to pay it off as soon as possible, so that you would be free of debt, the proud possessor of your own home. However, despite its emotional appeal, paying off a mortgage quickly is not always the wisest course of action. Researchers [...]
    [June 24th, 2008]
  • Financial Institutions Don’t Stop Fraud Effectively
    TowerGroup, a research and consulting company serving the finance industry, stated earlier that financial institutions have trouble keeping on top of fraud threats from within. Institutions must actively try to stop fraud, not reactively, as they are accustomed to doing, state the TowerGroup’s most recent research findings. The problem, says TowerGroup, is that financial institutions relegate [...]
    [June 24th, 2008]
  • The Different Types Of Foreclosures
    The issue of foreclosure has certainly taken center stage in the media and with just reason. People want to know about the state of the housing market and the economy as a whole and a good indicator of this are the amount of foreclosures. For those that are now aware, the sub prime mortgage market collapsed [...]
    [June 24th, 2008]
  • Municipalities Respond to Foreclosure Crisis
    Last November, the US Conference of Mayors released some harrowing data. Losses of approximately $166 billion were predicted for361 American cities during this upcoming year as a direct or indirect result of the recent housing crisis. Cities’ revenue from taxes, jobs, and consumer spending all decrease when the housing market declines. When people’s houses are [...]
    [June 23rd, 2008]
  • Number of Home Equity Loan Defaults Continue to Rise
    Despite the economic troubles that plague the nation, homeowners across America have at least been able to depend on home equity loans in order to procure money from their property. However, this source is looking to be shutting down soon, and the results could spell another negative effect on the economy.
    [June 20th, 2008]
  • Floods Mean Rising Corn Prices
    Middle America has experienced its most severe floods since 1993. This has reverberated in the food markets of America and the rest of the world. The inclement weather in the one of the world’s biggest grain producing regions has led to a preternatural growth in the price of corn. The Chicago Board of Trade reports corn [...]
    [June 20th, 2008]
  • Fannie Mae And You
    Home mortgages are an important part of the United States and global economies. Mortgages which have been around for several decades have caused their fair share of market upheavals, some for the good and some for the bad.
    [June 19th, 2008]
  • Government Proposal to Enlighten Homebuyers Proves Controversial
    The Department of Housing and Urban Development has been hit with a deluge of criticism from members of the real estate industry, the finance industry, and consumer groups alike. Why? Thursday was the final day for the public to comment on the HUD’s recent proposal to simply and explain the procedure for applying for and [...]
    [June 18th, 2008]
  • Abusive Practices Found In Some Mortgage Lenders
    While consumers should be on the alert for scams and cons from unsolicited third parties they need to also be weary of legitimate mortgage lenders. In a recent congressional hearing several mortgage lenders were placed under scrutiny for alleged abusive practices meant to take advantage of already struggling home owners. The hearing centered on the lenders’ practices [...]
    [June 16th, 2008]
  • A Potential Veto For A New Housing Relief Bill
    As foreclosures continue to rise and more and more homeowners are finding themselves unable to pay the bills and needing to refinance, several lawmakers are working towards a bill that will provide much needed relief. The only problem is that the President promises to veto any bill that does not reflect cooperation between democrats and [...]
    [June 16th, 2008]
  • Lehman Suffers in Subprime Crisis, Dismisses 2
    This Thursday Lehman Bros. Holdings, Inc, a Wall Street financier that has already been receiving a considerable amount of attention following the downfall of Bear Stearns, announced three days ago that it has had to part with $2.8 billion during its second quarter this year. This is the first time, starting from its public opening [...]
    [June 16th, 2008]
  • Surging Mortgage Activities Caused By Dropping Interest Rates
    In an attempt to save the economy the Federal Reserve is continuing with another round of interest rate cuts. These cuts continue to come as a relief for many home owners looking to refinance in an effort to stave off foreclosure and other financial difficulties. The Mortgage Bankers Association or the MBA reported a growth of [...]
    [June 16th, 2008]
  • Stop Foreclosure And Save Your Home
    Foreclosure is a household name now, ever since the end of 2007 which saw the collapse of the Sub Prime Mortgage market. Now home owners are worrying about missing a payment and many are facing the threat of foreclosure. Foreclosure is the end result of a long hard financial battle. When a home owner is no [...]
    [June 16th, 2008]
  • Mortgage Brokers Shape Up in Tough Times
    When searching for a home, there used to be a time in which the most obvious solution to finding your best offers was to pursue the use of a mortgage broker and have that person find the best loan at the cheapest price available. Times are changing, however, and more and more people are going [...]
    [June 15th, 2008]
  • Buying A House: Some More Problems To Watch Out For
    If you’re considering buying a home, you’re probably already worried about potential problems you might face. You’ve probably been inundated with friends and well-wishers and people who think they know what they’re talking about telling you “what to watch out for.” In all the confusion, you may become frightened. Do not be: while there’s no way [...]
    [June 14th, 2008]
  • Student Loans and Alternative Education Funding Options
    While many high school graduates may not have a problem with being accepted into a college or university, they may have a problem when it comes to paying for that higher education. While the economy fluctuates and the job market weakens college bound students are finding it necessary to take out loans in order to [...]
    [June 14th, 2008]
  • Senators Crack Down on Payday Loan Industry
    A pair of U.S. Senators is issuing a stern warning to the payday loan industry.  Senators Charles Grassley, a Republican from Iowa, and Charles Schumer, a Democrat from New York, have issued a letter to payday lenders, telling them they should not be offering “instant rebates that could bilk Americans out of huge portions of [...]
    [June 14th, 2008]
  • Some Common Mortgage Mistakes
    While the housing market is still in a steep decline, there are a few consumers who are taking advantage of the weakening market to buy their first homes. These consumers are usually young newly weds eager to make such a purchase and may not entirely understand the complexities of mortgages.
    [June 13th, 2008]
  • What To Expect During Foreclosure
    Foreclosure is a word known by all and feared by many. If you are a home owner you no doubt know what it takes to go into foreclosure but how much about that process do you really know? The housing market is showing some signs of repair, but these signs are often isolated and small not [...]
    [June 13th, 2008]
  • Citigroup Reflects Down Turning Market
    Citigroup, one of the nation’s largest lenders reported a significant loss for the first quarter a second during a time of economic fears and worries. The bank which serves several sectors including mortgage lending reported a loss of a little over $5 billion caused by the continuing sub prime mortgage crisis. They will be forced [...]
    [June 12th, 2008]
  • Interest Only Mortgages: Not All That New
    Interest only mortgages are, basically, mortgages where the borrower is only obligated to pay the interest each month for a set amount of time. Now, this type of loan was very popular in the 1920’s before the Great Depression and has recently entered into popularity once again. The idea is really a great one if the [...]
    [June 12th, 2008]
  • Sallie Mae’s Mistake
    In this financial market it is hard to keep a good credit score especially when one of the nation’s lending agencies makes mistakes. Sallie Mae is the leading student loan institution in the United States and has recently made a minor error but one that affected quite a number of people. Grant it that only 10% [...]
    [June 12th, 2008]
  • Middle Class And First Homes
    The housing market is being none to kind to the middle class families. These families were the ones to buy homes during the housing boom that lasted from 2001 to 2005. As the mortgage collapse took effect these families were also the ones to feel the worse of the impact. Now, as a new group of [...]
    [June 12th, 2008]
  • Don’t Count On A Clean Slate
    It is now agreed upon that the sub prime mortgage crises was the first to fall which then snow balled to other markets and is no effecting borrowers, home owners, lenders, banks, and the American population at large. The fault of the collapse lie with plenty of people including those who participated in predatory lending [...]
    [June 10th, 2008]
  • Second Homes And A New Stress
    A lot of attention is being paid to foreclosures on a large scale. New reports come out each month following the state of the housing market and how many home owners are expected to drop into foreclosure. What is not closely reported are the numbers of home owners facing foreclosure on multiple properties.
    [June 9th, 2008]
  • Housing Market To Rebound Slowly
    The housing market’s decline was not a quick one and its recovery will not be either. The market enjoyed record sales between the years of 2001 and 2005 only to have the market decline shortly there after. The end result was the sub prime mortgage crises which has rippled through the entire economy and is [...]
    [June 9th, 2008]
  • Foreclosure And Stripping Homes
    A new and disturbing trend caused by foreclosure is the stripping of homes. Home owners facing foreclosure and subsequent eviction are taking revenge by destroying the very property they once owned and loved. While not everyone is guilty of this there are a significant amount of former owners doing this to cause concern.
    [June 9th, 2008]
  • Raise Rates Or Risk Further Inflation
    Americans are dealing with rising gas prices and food prices while wages are lowering and jobs are becoming scarce. For many the inflation is here and very tangible. This comes after months of record foreclosures caused by the sub prime mortgage crises and resulting credit crunch. In an effort to turn the tide the Federal Reserve [...]
    [June 9th, 2008]
  • Home Owners That Just Walk Away
    It might seem unbelievable but as the housing market continues its downward spiral, more and more homeowners are choosing to just walk away. This usually happens to those who were using the property as an investment and have found that the home equity is far less then the mortgage being paid. In an effort to save [...]
    [June 6th, 2008]
  • April Home Sales Not Blooming
    In a disappointing turn, April home sales were still down 1% from March. While 1% may not seem that big of a deal the over all market is down 15% from last year so any little bit will help in this declining market. While several experts expected a lower average then what actually happened they are [...]
    [June 6th, 2008]
  • Minorities and Foreclosure
    While the foreclosure crisis is affecting an array of people studies are showing that a particular type of mortgage loan is bearing the brunt of the collapse. Sub prime adjustable rate mortgages appeal to many for their initially low interest rates. The initial interest rates are set for a prearranged amount of time before being subjected [...]
    [June 5th, 2008]
  • Americans Increasingly Pessimistic About Home Ownership, Survey Says
    A survey issued by Associated Press-AOL Money & Finance reveals today that most Americans don’t intend to purchase a home at any point in the near future. These unsurprising results evince a wider trend of despairing attitudes among the public about the U.S. credit and housing crisis.
    [June 5th, 2008]
  • Global Impact Of The Credit Crunch
    While America seems to be taking the brunt force of a weakening economy, a drastic credit crunch, and a faulting house market, the nation is certainly not alone in feeling the effects. Economies world wide are reporting losses caused by the drop in the United States dollar. While consumers and lenders are well aware of [...]
    [June 4th, 2008]
  • Lenders Establish Tighter Lending Standards
    Mortgage lenders, in response to the credit crunch, are establishing stricter standards for loans, thus making it harder for those with the worst credit to obtain the loans they need to pay for their debts. Despite the tightened standards, a vast number of credit-impaired individuals looking to borrow can find lenders willing to do business with [...]
    [June 4th, 2008]
  • So Who Is This Sallie Mae Person Anyways
    Sallie Mae is known to hundreds of thousands of college students already and in the next few months; many more outgoing high school seniors will come to know the name as well. Sallie Mae is no mere woman, but a huge organization that provides a way for students to achieve their goals of a higher [...]
    [June 3rd, 2008]
  • Foreclosure Help For Many Americans
    It is no secret that the housing market is facing its worst down turn it has seen in several years, possibly a decade. In an effort to ease home owner’s financial obligations and with hopes to stimulate the market several government officials have proposed acts and provisions aimed at giving the housing market a jolt [...]
    [June 3rd, 2008]
  • Financial gurus warn against a potential ‘moral hazard’
    Financial advisors, gurus, and leaders from all over the country are warning lenders, regulators, and the government about the potential backlash of a “moral hazard”. With the circumstances of the mortgage crisis as it exists today, politicians are stepping up to demand that something be done about protecting consumers from the possibility of bad loans. [...]
    [June 3rd, 2008]
  • Could The Credit Crisis Be Over Soon?
    Although many are concerned about the economic condition of the country, John Mack expressed a particularly rare take on the credit crunch, believing that an end is in sight to the troubles in the US subprime and leveraged loans market and that the crisis could very well be over in as little as six months. John [...]
    [June 2nd, 2008]
  • Federal Loans Not Possible For Many College Students
    It has seemed that for the longest time, students needing money to pay for their college expenses could always turn to the federal government to provide them the loans necessary to bring their education dreams to fruition. A new study has shown, however, that more than one million students at community colleges are unable to [...]
    [June 2nd, 2008]
  • Credit Unions Implement Rewards Programs to Increase Income
    Checking rewards programs from the Austin, TX based vendor BancVue are being used by approximately 100 different credit unions with very successful results. In these trying economic times, BancVue’s checking rewards program are helping these credit unions keep financially afloat, despite lower yields and increased provisions against defaulted payments on loans.
    [June 2nd, 2008]
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