Mortgage, debt management and personal finance in the news.

Bankruptcy may be best solution when facing foreclosure.

As interest rates have gone up, mortgage delinquencies and foreclosures have risen as well. This has brought out the vultures.

An article in the Wall Street Journal (5/30/06) details two businesses that feed …

Paypal offers free identity theft protection

If you use Paypal to buy things on the web you are entitled to some free protection.

Paypal now offers free Equifax Credit Alerts to its users. They’re an early warning detection system that …

Americans shifting debt from credit cards to home equity.

It is possible to pay 18-25% interest to a bank on your evolving credit balances, or you could apply to the same bank for a home equity loan and pay 6-9% for the same money. …

Identity theft affects millions.

The Federal Trade Commission estimates that 27 million Americans suffered from some form of identity theft over a recent five year period, and that this cost consumers more than $5 billion. It also created …

IRS auditing credit counselors looking for phonies.

Credit Counselors say they will help you manage your debt and clear up old debt. As we have pointed out on the page on Credit Counseling, we have found most of those with …

Some banks making it easier to get a mortgage.

As we’ve been reporting, the housing market is softening. In response, some banks are loosening their standards for mortgage loans.

A survey by the Federal Reserve Bank found that 11% of banks responding said that …

Third world loans have lower default rate than US credit cards.

It’s called “microlending.” It was pioneered in the 1970s by firms like Grameen Bank in Bangladesh, says the Wall Street Journal. “[It] has since spread all over the world. As many as 10,000 microlending …

Harvard Professor studies cause of increasing debt load on Americans

It’s not what you think, according to some research done by Professor Elizabeth Warren of Harvard Law School. Echoing a study done by “The Center for American Progress” Professor Warren claims that flat …

“Phishers” are often pretty obvious

“Phishing” is the practice of sending out emails that try to trick you into providing credit card or bank data that the phisher immediately sells or uses to steal your money. We all get these …

Homeowners paying more for less.

Mortgage interest payments rose 15.8% last year as adjustable rate mortgagees saw their rates go up substantially. So home mortgage payments are an increasing burden on all Americans.

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