The interest rate freeze is coming!
It won’t be long before the major subprime lenders agree to an interest rate freeze on their “2-28″ and “3-27″ subprime loans. This means that if you have one of these loans — which …
Subprime lenders may not have learned their lesson.
I have a friend of a friend who works for a subprime lender. One of the big problems with sub prime loans was somethng called “liar loans” in which the borrower submits no documentation …
Treasury Secretary tries to get mortgage industry to do blanket loan modifications
Realizing that one by one requests for loan modifications will never work, Treasury Secretary Henry Paulson wants lenders to set up a blanket system for modifying mortgage terms. For example, the lenders could freeze …
You have to be realistic about your debt situation
I got a call last night from a friend I had not seen in a while. She was in trouble with her debt and wanted to know if I could help. I listened …
Barney Frank tries to regulate subprime loans
Rep. Barney frank, D-MA, Chair of the House Financial Services Committee, is trying to pass a bill that would (to quote a negative editorial in the Wall Street Journal) “…forbid banks from signing up borrowers …