Figures from the Bureau of Consumer Problems at the Federal Trade Commission (FTC) show that complaints against debt collectors have risen to a new high, 66,000 in 2005. That’s up more than 20,000 in the [...]; . . . → Click Here to Read the Full Article
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New York Newsday puts it this way: “Carol and Anthony Calvagno said they just weren’t thinking straight three years ago when the solicitation from Southern Star Mortgage came in the mail.” The Calvanos were in big [...]; . . . → Click Here to Read the Full Article The headline in the Wall Street Journal reads “Lenders Push Home-Equity Deals. With Rates at 5-year High, Banks Seek to Keep Consumers Borrowing.” Rates have been going up dramatically. HSH Associates in Nj reports average rate [...]; . . . → Click Here to Read the Full Article Mortgage lenders began foreclosing on 323,102 mortgages during the first quarter, which represents an increase of 72 percent from a year ago, according to a new report from RealtyTrac Inc. Rapid increases in adjustable rate [...]; . . . → Click Here to Read the Full Article The Commerce Department has reported a 7.8-percent monthly decline in housing starts to an annual pace of 1.96 million units in March, which experts are attributing to rising interest rates, weaker home sales and a [...]; . . . → Click Here to Read the Full Article Borrowers who want low initial monthly payments coupled with the security of a fixed rate are turning to so-called “interest-only” loans in a big way. UBS AG reports an increase in fixed-rate interest-only loans to [...]; . . . → Click Here to Read the Full Article One of the credit rating agencies, Experian, hires the Gallup organization to do a study called a “Personal Credit Index” and among the questions asked are questions about house values. In the latest study, 71% of the [...]; . . . → Click Here to Read the Full Article It’s a great name for a lender, I suppose, “MyRichUncle” (owned by MRU holdings). The Wall Street Journal reports that these people plan to offer student loans to students who have relatively poor credit [...]; . . . → Click Here to Read the Full Article As home prices rise, foreclosures drop. People are reluctant to walk out of houses in which they have some equity. But when house prices flatten or drop, house equity sometimes drops to zero or becomes negative [...]; . . . → Click Here to Read the Full Article More than once I’ve heard from people who say that contracts they signed were changed after they signed them– with additions. When I ask them if they had a copy of the original, they say [...]; . . . → Click Here to Read the Full Article |
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