When people get into trouble paying off their debts they often cannot get regular credit cards, which can be very inconvenient. In response to this, some banks set up special credit cards for those who …
Everything has changed in the mortgage market. Everything. But it is not true that so-called sub-prime mortgages are no longer available in any form.
While you can no longer get a no-down-payment loan or a “no …
They will all deny it if asked, but my conversations with people who are trying to prevent foreclosure by negotiating new terms indicate that they are running into yet another obstacle: Lenders are stalling. They …
There are several regulatory bodies involved, but it appears that new, more consumer-friendly rules will be applied to credit card issuers. Unfortunately they will not take effect for more than a year. The most important …
Sheila Bair, head of the FDIC, the organization that insures deposits and takes over failed banks, is unhappy with her administration’s response to the foreclosure problem:
“I’ve heard the stories of people who are suffering and …
The Mortgage Bankers Association reports that one in ten American one-to-four-family homes are at least one-month delinquent on their mortgages, or in foreclosure. This number sets a new record for the MBA survey which has …
If you have read anything on this site about companies that tell you they can help you reduce your debts, help you get out of debt, or help you fix your credit, you know we …
Even before the current “bail-out” bill passed, the government enacted a program (which took effect October first) to encourage lenders to “cram down” balances on mortgages (rather than foreclosing) by offering to have the …
The news keeps getting worse. The mortgage delinquency rate is up to 6.6% of all mortgages (as of the end of August). The delinquency rate is an astounding 25% for sub-prime mortgages. …
As credit card delinquencies rise (up to 4.5% in most recent quarter), credit card companies have become much more aggressive in their efforts to get delinquent card holders to pay up, according to the Wall …