A law that went into effect last year was supposed to curtail the use of credit cards on campus. But did it work? If you have any comments or questions about this, or any other story at our site, just click the comment link below and tell us what’s on your mind. Your email address […]
Second Mortgage Defaults Post Sudden Increase
According to data released by S&P Indices and Experian, the default rate on second lien mortgages has increased for the first time in at least five months. The agencies’ report shows second mortgage defaults rose from 1.42 percent in March to 1.51 percent in April. First mortgages, on the other hand, saw a decrease in […]
Proposed 20 Percent Down Rule Draws Opposition
A proposed rule intended to prevent the kind of reckless lending and borrowing that heaped so many toxic mortgages into the marketplace in recent years has alarmed some groups, who argue the unintended consequences could worsen the nation’s housing troubles. The plan would require homeowners to make down payments of at least 20 percent of […]
3 Ways Lenders Spy on You
When you ask for a loan from the bank, they look at more than just your credit score. Questions or comments about this video? We’d love to hear from you. Just use the “comment” link below to contact us.
Credit Unions: 5 Reasons to Join One
Credit unions offer many advantages when compared to a traditional bank. Here are 5 good reasons to look at one today: Do you still bank at regular banks, or have you joined a credit union? We’d love to know which banking category you fall into. Leave us your thoughts and comments at the “comment” link […]
Mortgages: No-Doc Loans Are Back
Mortgages: No-Doc Loans Are Back Did you think the housing collapse killed off “liar loans”–those infamous bubble-era mortgages for which people were allowed to get creative in portraying their ability to make the payments? Well, they’re back, and that may be a good thing. In the height of the housing boom in 2006 and 2007, […]
New Rule Affects Foreclosure Avoidance Program
New Rule Affects Foreclosure Avoidance Program The Obama administration overhauled its struggling foreclosure avoidance program recently, saying it would require homeowners seeking to ease their mortgage terms to document their financial situation before a trial modification is granted. Borrowers previously could have their interest rates lowered and the terms of their loans extended on a […]