Subprime Credit Cards: rules to be changed in favor of user

By Jack, on December 30th, 2008%

When people get into trouble paying off their debts they often cannot get regular credit cards, which can be very inconvenient.  In response to this, some banks set up special credit cards for those who have [...]; . . . → Click Here to Read the Full Article

Comments are closed   Banks, Credit cards, Credit rating, Regulations

Subprime mortgages still available

By Jack, on December 29th, 2008%

Everything has changed in the mortgage market.  Everything.  But it is not true that so-called sub-prime mortgages are no longer available in any form.

While you can no longer get a no-down-payment loan or a “no doc” [...]; . . . → Click Here to Read the Full Article

Comments are closed   Banks, Credit rating, Mortgages, Regulations

Lenders refuse to negotiate mortgages, waiting for rescue from Obama

By Jack, on December 26th, 2008%

They will all deny it if asked, but my conversations with people who are trying to prevent foreclosure by negotiating new terms indicate that they are running into yet another obstacle: Lenders are stalling.  They are [...]; . . . → Click Here to Read the Full Article

Comments are closed   Banks, Debt, Foreclosure, Mortgages

New credit card rules

By Jack, on December 22nd, 2008%

There are several regulatory bodies involved, but it appears that new, more consumer-friendly rules will be applied to credit card issuers.  Unfortunately they will not take effect for more than a year.  The most important ones [...]; . . . → Click Here to Read the Full Article

Comments are closed   Credit cards, Debt, Regulations   , , ,  

Time to get serious about foreclosure prevention

By Jack, on December 15th, 2008%

Sheila Bair, head of the FDIC, the organization that insures deposits and takes over failed banks, is unhappy with her administration’s response to the foreclosure problem:
“I’ve heard the stories of people who are suffering and can [...]; . . . → Click Here to Read the Full Article

Comments are closed   Bankruptcy, Foreclosure, Mortgages   , , , , , ,  

Foreclosure prevention stalled by administration bickering

By Jack, on December 9th, 2008%

The Mortgage Bankers Association reports that one in ten American one-to-four-family homes are at least one-month delinquent on their mortgages, or in foreclosure.  This number sets a new record for the MBA survey which has been [...]; . . . → Click Here to Read the Full Article

Comments are closed   Bankruptcy, Foreclosure, Mortgages   , , , , , ,