Smart Borrower Blog

Archive for February, 2012

FHFA Shows Little Sign of Allowing Mortgage Principal Write-downs

Feb 29th, 2012 @ 3:04 PM by Amber Nelson

The Federal Housing Finance Agency, the regulator for mortgage giants Fannie Mae and Freddie Mac, does not seem interested in taking up the Obama Administration up on its proposal to allow the two companies to write-down loan balances for struggling homeowners. In a hearing Tuesday before U.S. senators, FHFA acting director Edward DeMarco continued to […]

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Small Businesses Look to Unconventional Sources for Funding

Feb 22nd, 2012 @ 10:11 PM by Amber Nelson

Since the financial crisis several years ago, small businesses have had a tough time securing funding for their operations as banks have upped their lending standards and pulled back from investment. While there are some signs that major banks are starting to open up their lending spigots slightly for small businesses, the credit and collateral […]

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Auto Market Shows Signs of Looser Lending

Feb 15th, 2012 @ 3:07 PM by Amber Nelson

The U.S. auto loan market is definitely reviving after hitting a low point back in 2008 with the financial collapse. While credit all but dried up at that time, banks have since shown much more interest in funding auto loans with banks even starting to compete against each other for business. “Banks have had to […]

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Credit Card Use Jumped in December

Feb 8th, 2012 @ 1:46 PM by Amber Nelson

U.S. consumers pulled out their plastic in greater numbers for purchases in December, according to information from the Federal Reserve Tuesday. Total credit debt increased substantially as well. Revolving credit, such as credit card debt, grew by $2.76 billion in December to $800.98 billion, after rising $5.58 billion in November. Non-revolving credit, driven by student […]

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Obama Announces New Mortgage Refinance Aid

Feb 1st, 2012 @ 8:13 PM by Amber Nelson

On Wednesday, President Barack Obama announced some modifications to his administration’s previous foreclosure-prevention plans in hopes of extending relief to more struggling homeowners. “I am sending Congress a plan that will give every responsible homeowner in America a chance to save about $3,000 a year on their mortgage by refinancing at historically low rates,” he […]

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