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
The New York Times magazine recently wrote about the ever growing shady world of debt collections, and the picture is ugly. These scavengers buy lists of people with old debt for pennies on the dollar; do [...]; . . . → Click Here to Read the Full Article
A survey of 2,000 banks by the Wall Street Journal showed that 16% of them still use a form of check processing called “high to low” that is frowned upon by regulators.
Under high to low processing, [...]; . . . → Click Here to Read the Full Article
More and more people with poor credit ratings are being enticed into bad deals on used cars. If you really need a car, so-called “subprime” auto loans may sound like the answer; but the deals being [...]; . . . → Click Here to Read the Full Article
With a credit card you can’t lose more than $50 if your card is stolen, no matter how much the thief charges to your card.
A crook can use a debit card to clean out your whole [...]; . . . → Click Here to Read the Full Article