Archive for July, 2012
Report: Private Student Loans Were Out of Control, Just Like Subprime Mortgages
Jul 25th, 2012 @ 1:57 PM by Amber NelsonPrivate student debt has risen to epic proportions in the past several years, with dire consequences for borrowers and investors, similar to the troubles that followed the recent subprime mortgage crisis, according to a new report from the Consumer Financial Protection Bureau. The “Private Student Loans” study, required by Congress as part of the Frank-Dodd […]
more »Thinly-Stretched Banks Limit HARP Help
Jul 18th, 2012 @ 3:33 PM by Amber NelsonAlthough the Obama Administration continues to coerce and cajole lenders to help underwater homeowners refinance their mortgage loans, banks are finding it hard to accommodate those wishes. The problem: limited resources and risk-aversion. The newest version of the Home Affordable Refinance Program (HARP)was designed to prevent foreclosure among borrowers who owe more than their homes […]
more »- Posted in Federal Loans, Mortgage Refinancing, Mortgages
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New Scoring System Could Boost Your Credit
Jul 11th, 2012 @ 12:14 PM by Amber NelsonIf you have good credit, a brand new credit score model may give you excellent credit. At least that’s what the Fair Isaac Corp. (FICO) and data company CoreLogic, the creators of the new system are saying based on their collaboration. The new scoring system, released on July 10, adds more information like property records […]
more »- Posted in Credit Card Debt, Other Loans
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Interest Rates, Pent-up Demand Bolster Car Sales
Jul 5th, 2012 @ 9:34 AM by Amber NelsonAfter a poor showing in May, U.S. car sales rose in June, bolstered by low interest rates and a Great Recession-induced demand for new vehicles. Sales of all cars and trucks grew to 1.3 million last month, up 22 percent from the previous year. That puts sales on pace to reach 14.1 million by the […]
more »- Posted in Auto Loans, Used Car Loans
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