Smart Borrower Blog

Archive for the ‘Other’ Category

Home Prices near You: Are They Rising or Falling?

Dec 21st, 2010 @ 3:54 PM by ahosmann

Home prices in most of the United States have declined steeply over the past few years, with an estimated loss of $6 trillion. However, it’s not doom and gloom everywhere. In some parts of the country, median home prices have actually increased. So where have home prices improved? Our friends at Quicken Loans put together […]

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Small Banks Are Closing Their Doors

Nov 8th, 2010 @ 4:40 PM by Debbie Dragon

Small banks across the country are being forced to shut their doors. This year alone over 140 small banks so far have closed up for good. While small banks at one time were the mainstream of America, today they are vanishing and someday may be a thing of the past. Just like many other small […]

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Top 10 VA Loan Myths Debunked

Jul 9th, 2010 @ 4:03 PM by Amber Hunt

VA loans are a top benefit of military service, and with good reason. They are the last traditional loan program to offer 100% financing and refinancing on mortgages and have the most flexible credit guidelines available. But even though the program has amazing things to offer, many veterans are unaware of the full magnitude of […]

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Wall Street Reform Inpacts Student Loans

Jun 29th, 2010 @ 8:55 AM by Debbie Dragon

Last week legislators reached an agreement to overhaul the financial system, providing the biggest changes seen since the 1930s. The legislation, does not appease everyone, but does make some significant changes that are meant to prevent another financial crisis. The proposal can be found in a 2000 page document. The plan is calling for amongst […]

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Bailout Has Not Saved All Banks

Dec 23rd, 2009 @ 11:21 PM by Amber Nelson

New data from bank research firm SNL today showed that even though high profile banks like Wells Fargo, Citigroup, and Bank of America have paid off their government loans, there are 55 smaller lenders that have fallen behind on just repaying the required quarterly dividends as of November. There were only 33 such tardy banks […]

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Banks to Bail Out the Government?

Sep 30th, 2009 @ 8:30 PM by Amber Nelson

The Federal Deposit Insurance Corporation, the government agency that insures consumer deposits at banks, declared yesterday that its reserves are way down and that the fund it uses to protect bank deposits is now in the red. The solution: have banks prepay their fees for the next four years, including the current one, before the […]

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Federal ARC Loans Aim to Keep Small Businesses Open

Sep 25th, 2009 @ 7:46 AM by Debbie Dragon

The American Recovery and Reinvestment Act launched the ARC loan program in June to provide financial resources to small businesses operating during the recession. Its intent is to keep small businesses operating despite a weakened economy. The ARC program is funded with federal recovery dollars and operates through the U.S. Small Business Administration. The loans […]

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Will America’s Recovery Capital Loan Program Work for Small Business Owners?

Jul 27th, 2009 @ 3:26 PM by Alden Smith

America’s Recovery Capital Loan program (ARC) will provide up to $35,000 in short-term relief for small businesses having problems meeting expenses. Small Business Administration (SBA) lenders are generating these loans, which will be available for small businesses until September 30, 2010. This $255 million loan program has been in effect for approximately one month. Some […]

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Consumer Delinquency Rates Grow, Unemployment to Blame

Jul 8th, 2009 @ 11:43 AM by Amber Nelson

A recently released report from the American Bankers Association (ABA) showed that 3.35 percent of consumers were behind on their loans during the first three months of this year, compared with 3.16 percent in the last quarter of 2008. These consumer loans include home equity loans, home improvement loans, direct and indirect auto loans, marine […]

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Small Business Lending Increasing

May 27th, 2009 @ 3:08 PM by Amber Nelson

The New York Times has a interesting article today about how to get a business loan in the current environment. With national lenders facing a liquidity crisis and business credit card issuers not accepting new users, it’s easy to see why some think it is impossible to get a loan these days.  The SBA however […]

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