rebuild.org finance news: latest news

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  • What to Remember about Refinancing an Auto Loan
    Recently we wrote about applying for an auto loan. People who already have car loans and are searching for ways to cut their monthly payments could save money by refinancing their loans. Generally, refinancing auto loans is much less complicated than refinancing a mortgage loan. Here’s what car owners need to know about doing a refinance.
    [September 28th, 2009]
  • More Americans Seek Debt Relief Through Strategic Mortgage Defaults
    It’s a scenario that was unthinkable a decade ago, and would have caused previous generations of Americans to live in shame. Yet, desperate economic forecasts and spiraling income rates in some parts of the country have caused more Americans than ever to walk away from their mortgages. This unorthodox attempt at debt relief has even [...]
    [September 28th, 2009]
  • Home Equity Loans For Green Improvements
    Home Equity Loans for Qualified Green Improvements Offer Interest Rate Incentive At least one home equity lender is offering three eights percent rate reduction on a trial basis for qualified green home improvements.  Various types of green loans are gaining in popularity.  U.S. Bank experimented with a green auto loan in April that has been very successful.  To find a [...]
    [September 25th, 2009]
  • Payday Advance Loans See Light at Tunnel’s End
    As payday loans executives fight potentially damaging legislation that could make these helpful financing options even harder to get, the industry as a whole is beginning to see the fruits of their efforts. Not only is anti-payday loans legislation being hampered, but Internet technologies are improving the products themselves.
    [September 24th, 2009]
  • Home Equity Lenders Block Progress on Mortgage Relief
    As the federal government continues to offer mortgage relief through its Hope for Homeownersprogram, homeowners are encountering roadblocks with their home equity loans and home equity lines of credit (HELOCs). In order for a primary mortgage loan to be refinanced through the program, subordinate lenders must agree to release their liens against the property securing the refinance. [...]
    [September 23rd, 2009]
  • 60-Second Guide to FHA Mortgage Loans
    Thinking of getting an FHA loan? Here's what you need to know about these government-insured mortgage loans.
    [September 23rd, 2009]
  • GM Expecting to Restore 3000 Jobs in 2010
    In a move that signals more good news for the US economy, GM announced plans for restoring approximately 3000 jobs in 2010. The automaker is consolidating production by closing some plants and retooling others, but it will add an estimated 2400 assembly jobs in Indiana, Kansas, and Michigan. 600 additional jobs across the US are predicted for GM [...]
    [September 22nd, 2009]
  • Low Refinance Rates Endangered When Legislation Rewards Bad Behavior
    Congress continues to discuss increased regulation of the mortgage finance industry. Homeowners who are having a hard time qualifying for a much-needed refinance can be forgiven for wanting a blatant bailout of their own, after the banks received so incredibly much taxpayer money. However, mortgage legislation that rewards bad behavior is not good for anyone in [...]
    [September 22nd, 2009]
  • Personal Loan News Alert: Consumer Credit Declines Again, Steeply
    The Federal Reserve released a report on September 9 showing that consumer credit declined by $21.5 billion in July. That’s a year-over-year decline of 10.4 percent. Consumer credit is comprised of revolving debt (credit cards, mainly) and non-revolving debt (such as personal loans and auto loans). Revolving debt declined 8 percent, non-revolving debt 11.7 percent. The notion that less [...]
    [September 22nd, 2009]
  • 60-Second Guide to Auto Loans
    Lenders have tightened lending standards but many car dealers will still loan people money for a vehicle. Use this 60-second guide to help you shop for a car loan.
    [September 21st, 2009]
  • Compare Home Equity Loan vs. A New First Mortgage
    With interest rates at historic lows, many people are refinancing their homes.  When does it make sense to take out a home equity loan vs. starting over with a new first mortgage? Below are the top six things to consider when making this important financial decision. Top Six Things - Choosing Between A New First Mortgage or a Home Equity [...]
    [September 18th, 2009]
  • Payday Loans Should Be a Last Resort
    Payday loans offer fast cash, but borrowers should consider some other options first.
    [September 17th, 2009]
  • Three Pieces of Refinance News That Matter This Week
    Refinance news saw another busy week. Here are three pieces of refinance news that matter this week: 1. Mortgage Rates Tick Up Slightly In a refinancing environment in which every fraction of a point can potentially make a difference, news that 30-year mortgage rates went up slightly this week constitutes big news for refinance borrowers who are close [...]
    [September 16th, 2009]
  • Three Ways Lenders Are Getting Creative With Unsecured Personal Loans
    Unsecured personal loans have been around since the days of the caveman, when one caveman asked to borrow another caveman’s club “on credit.” Or maybe that’s not exactly how it happened. What is undeniably happening today, though, with unsecured personal loans, is that lenders are getting creative. Here are three ways that lenders are getting creative [...]
    [September 16th, 2009]
  • Home Equity Loans Affect Loan Modifications and 125% Refis
    Loan Modifications and 125% Refis Could Fail Due To Second Liens The Hope For Homeowner’s programs include provisions for loan modifications and 125% loan to value refinances.  Both of these programs aim to assistant distressed homeowners and hopefully prevent foreclosures.  Home Equity Loans and other second mortgage liens have been causing problems and slowing progress. Laurie Goodman, analyst for [...]
    [September 11th, 2009]
  • Lower Mortgage Rates Open Refinance Opportunities
    Homeowners who’ve been waiting for the best mortgage rates may want to refinance now. Average rates for a 30 year fixed rate (FRM) mortgage are close to 5 percent according to the LA Times. This figure does not include an estimated .7 percent typically charged as “points” for a 30 year FRM. Nonetheless, low refinance rates can [...]
    [September 11th, 2009]
  • Should I Buy a Condo for My College Student?
    Back-to-school season is in full swing and a hoard of college freshmen are adapting to being away from home for the first time in their lives. Living in a dorm is a rite of passage for many underclassmen, but some college students are taking up residence in condos or houses purchased by their parents. Here are [...]
    [September 11th, 2009]
  • Could Consumer Reluctance Lead to Great Auto Loan Deals?
    The Los Angeles Times reports that US consumers have cut debt by $21.6 billion during July. This represents the largest decline since the Federal Reserve began keeping records in 1943, and the sixth consecutive month that consumer debt rates have fallen  Continued worries about the economy and job security has consumers sitting on the sidelines rather than spending [...]
    [September 11th, 2009]
  • Refinance Market Shaping Up for a Busy Fall
    A mortgage refinance is one of the few financial decisions that can affect every other area of an individual’s finances. And refinance rates move, appreciably, with refinance news. Therefore, people looking to refinance need to watch for refinance news like hawks. This fall is going to be a busy season for refinancing and refinance news. Mortgage Rates [...]
    [September 10th, 2009]
  • 4 Things to Remember about Personal Loans for Bad Credit
    Personal loans for folks with bad credit are tough to get, but there are some banks that will lend to risky borrowers.
    [September 9th, 2009]
  • Unsecured Personal Loans as a Measuring Stick of Economic Recovery
    Unsecured personal loans may be one of the best measurements of economic recovery. Unemployment, GDP, and retail sales statistics are important, too, of course, but nothing is quite so eloquent about the state of the credit markets as the availability of unsecured personal loans. When lenders are willing to lend money to people based upon the [...]
    [September 9th, 2009]
  • 5 Ways To Consolidate Debt Using A Home Equity Loan
    If you have lived in your home a long time, chances are you have built up some equity.  When does it make sense to use that equity for debt consolidation? Consider these 5 way to consolidate your debt using a home equity loan or home equity line of credit (HELOC). To find the lowest rates [...]
    [September 4th, 2009]
  • Personal Loans and Debt Settlement May Go Together Well
    Unsecured personal loans, especially credit card debt, have become a problem for many Americans. Stories of people drowning in debt are a dime a dozen these days. Ironically, unsecured personal loans may provide a way out of debt problems. Using a personal loan for the purpose of debt settlement is one of the best possible uses for [...]
    [September 3rd, 2009]
  • MBA, MCGE, and the Refinance Market
    Refinancing a home loan can be a traumatic experience. Like going to a check up at the doctor’s office, bad news is a possibility. The Mortgage Bankers Association (MBA) thinks it has just the medicine for the mortgage finance market. The medicine is to create a Mortgage Credit-Guarantor Entity–or, rather, many such entities–that would provide liquidity [...]
    [September 2nd, 2009]
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