rebuild.org finance news: latest news

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  • Decrease in Mortgage Activity
    In an interesting article posted on Forbes.com that describes how Americans are changing their borrowing habits. According the articles source, Freddie Mac, homeowners are not cashing out as much equity as they have in years gone by. Whether they use the cash for debt consolidation, upgrades or other financial needs, homeowners are borrowing [...]
    [October 31st, 2008]
  • Unable To Refinance? Help May Be On The Way.
    The Wall Street Journal is reporting that a proposal designed by the Federal Deposit Insurance Corporation (FDIC) and the Treasury Department is nearing fruition. Estimated to cost between $40 billion and $50 billion, the plan would have the government agree to share a portion of any losses on a modified mortgage offered by lenders. The plan [...]
    [October 30th, 2008]
  • Lower Home Equity Loan Rates On The Way
    Today marked the beginning of a 2-day meeting of the Federal Reserve. It is widely expected that the Fed will drop the federal funds rate again on the heels of an emergency rate cut of a half-percentage point to 1.5% back on October 8th. Most experts believe that the Fed will announce another half-percentage point [...]
    [October 28th, 2008]
  • Do You Need a Bad Credit Auto Loan?
    Recent Economic turmoil has driven many dealerships out of business and forces others to redefine themselves. Many people find it tough to find a bad credit auto loan these days. Lenders are no longer offering this type of financing as they once did in years gone by. This situation has left a small void [...]
    [October 28th, 2008]
  • “Hope for Homeowners” Mortgage Debt Consolidation Program
    You should be disappointed in the federal government at this point. Not sure if that disappointment is directed at the right institution at this point but the government should have know that adopting the “Hope for Homeowners” FHA program was going to be difficult for mortgage lending institutions. To date the “Hope for Homeowners” FHA [...]
    [October 28th, 2008]
  • Personal Bankruptcies Rise as Troubled Economy Takes a Toll
    About 1.1 million people are expected to file for bankruptcy this year as foreclosures, unemployment, high energy costs, and other problems with the economy take a toll on U.S. households. The American Bankruptcy Institute says consumer bankruptcy filings rose 29% in September from a year earlier. Personal Unsecured Loans About 34% of consumers filed for Chapter [...]
    [October 27th, 2008]
  • Home Sales Expected to Continue Decline Well Into Next Year
    The housing market isn’t expected to improve until the second half of 2009, according to the Mortgage Bankers Association (MBA). Sales of new houses are expected to post a drop of 36% this year and decline another 12% in 2009. The MBA said it expects home sales to rise 25% in 2010. “We expect residential investment [...]
    [October 22nd, 2008]
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