Smart Borrower Blog

Archive for July, 2012

Report: Private Student Loans Were Out of Control, Just Like Subprime Mortgages

Private 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 […]

Thinly-Stretched Banks Limit HARP Help

Although 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 […]

New Scoring System Could Boost Your Credit

If 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 […]

Interest Rates, Pent-up Demand Bolster Car Sales

After 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 […]