Archive for October, 2012
Consumers Looking for Mortgage, Car Loans But Credit Remains Tight
Oct 31st, 2012 @ 8:53 PM by Amber NelsonWhile not all parts of the economy are moving forward, things do seem to be heating up in the mortgage and car industries, as banks saw greater interest in funding for both in the past few months. According to the Federal Reserve’s latest Senior Loan Officer Opinion Survey, “significant fractions of banks reported a strengthening […]
more »Foreclosures Take a Dive in 62 Percent of the Nation
Oct 24th, 2012 @ 9:44 PM by Amber NelsonIn another hopeful sign coming out of the housing market, foreclosure activity fell in a majority of U.S. cities in the third quarter, according to new data from foreclosure tracking company RealtyTrac. Of the 212 major metropolitan cities that RealtyTrac reports, 131 cities, or 62 percent, experienced a decline in mortgage foreclosures during the past […]
more »- Posted in Bad Credit Home Loans, Mortgages
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Strategic Mortgage Defaulters Could Face More Pressure From Fannie and Freddie
Oct 17th, 2012 @ 12:27 PM by Amber NelsonMortgage finance companies Fannie Mae and Freddie Mac are being urged to go after borrowers who deliberately defaulted on their mortgages. A new report from the inspector general for the Federal Housing Finance Agency found that the two government-controlled agencies could be doing more to recoup losses from these ‘strategic defaulters.’ “Recovering losses from strategic […]
more »- Posted in Mortgages
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Credit Card Delinquencies Fall to 11-Year Low
Oct 10th, 2012 @ 7:48 PM by Amber NelsonAmericans have continued to make their credit card payments on time, according to the latest data from the American Bankers Association, helping to push the bank card delinquency rate to the lowest level since 2001. The ABA’s Consumer Credit Delinquency Bulletin reported that delinquencies – payments that are 30 days or more late – fell […]
more »Car Sales Rise Spurred by Low Rates, Good Deals
Oct 3rd, 2012 @ 9:05 PM by Amber NelsonAs credit continues to flow and interest rates remain low, sales of U.S. car sales rose again in September. And with a over a year of strong sales, the auto industry in now, surprisingly, one of the strongest markets in the economy. “Autos are the bright, shining star in the economy,” Mark Zandi, chief economist […]
more »- Posted in Auto Loans, Used Car Loans
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