Debt Management, mortgage and credit news - a blog for the average consumer.

Subprime lenders reporting increased defaults.

The Wall Street Journal reports that subprime lenders “…the mortgage companies that cater to those with poor credit — so called subprime customers — see trouble first, and they are already warning about credit troubles.”

As …

Bankruptcy may improve your credit rating.

One of the great misconceptions among people whose debt has gotten out of control is the belief that bankruptcy will ruin their credit rating. I was talking to an elderly woman who had been …

Never give out your security code to strangers.

One scam that has been going on for years seems to be picking up. Someone calls and says they are from your credit card company and they think there has been a phony charge …

ARM’s driving higher deliquency rates

With 17 increases in a row, the Fed has driven interest rates way up, and adjustable rate mortgages (ARM’s) have gone right along. The portion of adjustable rate mortgages that are at least …

How to beat the bank at the mortgage game.

If you are familiar with the game of moving your credit card debt every time you get a low introductory offer from another credit card company (”zero percent interest on transferred balances for six months” …