Smart Borrower Blog

Archive for April, 2009

Small Business Owners: Government-Sponsored Loans Are Now Easier to Come By

Apr 29th, 2009 @ 8:09 PM by Amber Nelson

Tough economic times mean lenders, of all varieties start tightening their belts. We’ve heard plenty of talk in the news about the struggles of current and potential homeowners to obtain new mortgage loans, but most other types of lending have also been severely reigned in as well. Small business loan funding, especially has been hard […]

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Obama Administration to Change Student Loan Program

Apr 27th, 2009 @ 3:36 PM by Alden Smith

Since 1965, the federal government has been subsidizing student loans made by private lenders.  President Obama has formally presented a plan that will do away with this. A great deal of the student loan industry is considered to be a racket that exploits college students.  Students have it driven into their heads that student loan […]

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Consider Consolidating Your Credit Card Debt

Apr 24th, 2009 @ 3:32 PM by Alden Smith

It has been said that consolidating your credit card debt is one of the smartest decisions you may make.  Credit card consolidation is a perfect choice for people looking to have better credit.  It is fairly common these days, and gives you the opportunity to combine debt and make a single payment instead of half […]

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Will Credit Card Legislation Really Make People Start Saving More?

Apr 22nd, 2009 @ 8:37 PM by Amber Nelson

Today the House has pushed forward legislation to credit a consumers’ credit card bill of rights, so to speak. The bill is apparently a response to cries from consumer advocacy groups about "unfair" practices by credit card companies. Some of the requirements of the proposed law seem helpful, but some of them seem like ridiculously […]

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Experts Warn OF Another Wave Of Foreclosures

Apr 20th, 2009 @ 3:32 PM by Alden Smith

With rising unemployment numbers, housing prices falling and inventory going up, industry experts are predicting that a second wave of the mortgage crisis is due to happen.  They predicted this new wave will be even more severe than the subprime mortgage crisis. Everyone is aware that the housing market is far from normal.  Stability will […]

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Small Business Owners Under Fire

Apr 17th, 2009 @ 8:01 AM by Alden Smith

It is of particular interest to those that watch happenings in the mortgage market to see what happens when small-business owners get in difficulty.  In an article in the New York Times this morning, there was an article about a Chicago banker turned junk loan buyer.  The buyer, Rick Williamson, sees his role as that […]

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Total Lending Down in February But TARP Banks Increasing Pace

Apr 15th, 2009 @ 12:23 PM by Amber Nelson

According to a report from the Treasury Department released Wednesday, the number of loans being made by all residential, commercial and industrial property lenders dipped in February although banks and lenders receiving emergency government funds saw an increase in loan originations. Total lending dropped by a median 2 percent in February, with the Treasury reporting […]

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One State’s Mortgage Miseries

Apr 13th, 2009 @ 3:26 PM by Alden Smith

Maryland is a state that has seen its share of hard time from the fallout in the mortgage market.  Those mortgages in question are the infamous option arm loan.  This was one of those “no money down too good to be true” loans that had extremely attractive interest rates, and put thousands of Maryland homeowners […]

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FTC Fights the Latest Wave of Scammers

Apr 10th, 2009 @ 3:21 PM by Alden Smith

Create a conflict, and the scam wizards come out of the woodwork.  Ever the opportunist, they prey on people in trouble, taking advantage of the fact that the person is distressed and confused. Now we see that the FTC has uncovered yet another shady business deal.  Mortgage modification and bankruptcy prevention services are popping up […]

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Mortgage Delinquencies Up 50 Percent in Past Year

Apr 8th, 2009 @ 4:38 PM by Amber Nelson

Recent data from one of the major U.S. credit bureau shows that mortgage delinquencies continue to rise, suggesting that the troubled national housing market has not yet bottomed out. According to Dann Adams, president of U.S. Information Systems for Equifax Inc, during February 2009, 7 percent of all U.S. mortgage loans were delinquent by at […]

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