The Wall Street Journal reports that, “Almost four of every 10 loans for autos, credit cards and personal borrowing in the U.S. went to subprime customers during the first 11 months of 2014…. That amounted to […]; . . . → Click Here to Read the Full Article
The Obama administration changed the rules for “Income Based Repayment” (IBR) of student debt in 2010 and more students have begun to take advantage of this system. Undergraduate students who elect this form of repayment can […]; . . . → Click Here to Read the Full Article
Most people do not shop around very much when they get a mortgage. In fact about half ask only one lender for a rate, and three quarters apply to only one lender.
This can cost you a […]; . . . → Click Here to Read the Full Article
The FHA, which insures mortgages with down payments of as little as 3.5% of the purchase price, has announced a cut in the annual premium from 1.35% to .85% “For a typical FHA borrower taking out […]; . . . → Click Here to Read the Full Article
Fannie Mae and Freddie Mac, as promised, have announced new, lower down payment rates for “…first-time home buyers, borrowers who haven’t owned a home for at least a few years (Fannie Mae) and to those who […]; . . . → Click Here to Read the Full Article
For years, consumer advocates have been pressing lenders who are foreclosing on homeowners whose houses are “under water” (mortgage exceeds current value) to reduce the principle to the current value of the home. The argument is […]; . . . → Click Here to Read the Full Article
The Neighborhood Assistance Program of America (NACA) has a program designed for home buyers with credit scores that might normally make them ineligible for anything but subprime rates. Here is what they say on their web […]; . . . → Click Here to Read the Full Article
The Obama administration is moving to make it easier for parents to get student loans for their kids in a program called “Parents Plus.”
According to the Wall Street Journal, the Education Department will effect a plan […]; . . . → Click Here to Read the Full Article
Getting a lower interest rate on your mortgage sounds good, but don’t fall for HARP scams.
Got a call the other day from someone who claimed that he could get me an interest rate as low as […]; . . . → Click Here to Read the Full Article