Credit cards for college students harder under new law

By Jack, on August 24th, 2009%

As of February, 2010, banks will be restricted in their ability to issue credit cards to people under 21 who do not have “independent means” of paying the bills.  That leaves many college students in a [...]; . . . → Click Here to Read the Full Article

Comments are closed   Credit, Credit cards, Regulations

Credit card interest rates going up as new rules start to restrict actions by credit card issuers

By Jack, on August 19th, 2009%

Average credit card interest rates rose to 14.43% in May according to the Federal Reserve as credit card issuers get ready for the new rules from, the Credit Card Act of 2009 taking effect starting this [...]; . . . → Click Here to Read the Full Article

Comments are closed   Credit cards, Regulations

“Cram downs” gaining favor in foreclosure prevention

By Jack, on August 9th, 2009%

As I wrote in my last BLOG entry, the new administration foreclosure prevention program encourages lenders to reduce mortgage principle by up to 30% (called a “cram down”) in order to bring payments down to manageable [...]; . . . → Click Here to Read the Full Article

Comments are closed   Bankruptcy, Foreclosure, Mortgages, Regulations

New FHA foreclosure prevention plan to allow “cram downs” — sort of

By Jack, on August 2nd, 2009%

If your mortgage is held or insured by the Federal Housing Administration (your servicer will know) you may now be able to get a reduction in mortgage principle of up to 30%, at least for a [...]; . . . → Click Here to Read the Full Article

Comments are closed   Foreclosure, Mortgages, Regulations