Archive for October, 2017
Payday Loans Meet Stricter Regulation
Oct 25th, 2017 @ 9:13 AM by Amber NelsonPayday lenders will now be more limited in how they can structure their short-term personal loans, based on a new rule from the Consumer Financial Protection Bureau. This could have serious financial impacts on the 12 million borrowers who take out payday loans annually as well on the lenders who make those loans. A payday […]
more »Student Loan Borrowers Struggle to Pay Down Principal
Oct 20th, 2017 @ 1:38 PM by Amber NelsonRoughly a decade after borrowing money for student loans, 2 out of 5 American borrowers have not made any progress on repaying their debt, according to new data from the Department of Education. The study tracked loans made to U.S. college students in the 2003-2004 academic year and found that repayment rates varied by what type […]
more »- Posted in Student Borrowing
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Lenders Loosen Mortgage Standards as Rates Jump
Oct 13th, 2017 @ 5:06 PM by Amber NelsonMortgage lenders made more home loan credit available in September, according to a new report from the Mortgage Bankers Association, although interest rates jumped up to a 10-week high during the latest week. The MBA’s Mortgage Credit Availability Index (MCAI) rose to a reading of 181.4 in September, up 0.7 percent from August. An increase […]
more »- Posted in Federal Loans, Mortgage Rates, Mortgages
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A Quarter of Americans Have Carried Credit Card Debt for 5+Years
Oct 4th, 2017 @ 7:59 PM by Amber NelsonMany Americans have trouble paying off their credit card bill each month, and according to a new survey by CreditCards.com almost one out of four have been having that trouble for five years or more. The survey, conducted by phone with 2,005 adults, found that 43 percent have carried a credit card balance for more […]
more »- Posted in Credit Card Debt, Other Loans
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