economy

One Page Mortgage Disclosure

April 13, 2011

If you have ever purchased a home with a mortgage, you will remember the stacks upon stacks of papers you needed to sign, bothe during the loan application and the closing, all the while supposedly knowing everything each paper said, even while there was not time to read them. Well now, Elizabeth Warren, the woman [...]

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Document Your Receipts

April 11, 2011

It’s the last week to file your taxes if you are going to make the April 18 deadline for the year 2011. And while many who were expecting a huge refund may have completed this onerous task clear back in January or early February, those of us who know that they will end up paying [...]

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Consumers Cutting Back On Credit Cards

March 14, 2011

According to a new study from the credit bureau, TransUnion, there are as many as eight million credit card accounts that are deemed “incactive” today. The inactive accounts are believed to have contributed to the 24.6% decrease in U.S. Credit card delinquency rates. The majority of the inactive cards were in the “high risk” category [...]

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Double Dip In The Housing Market

January 26, 2011

Housing prices in many cities across the nation are at their lowest level in years. And while everybody has a theory as to why and the comments on the Internet have people blaming the banks, the homeowners, the legislature, the government, the truth probably lies somewhere in the middle. The fact is that is will [...]

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Was “Flip That House” A Sign Of An Upcoming Mortgage Crisis?

January 14, 2011

In a 2005 meeting between economists and then Federal Reserve Chairman Alan Greenspan as the housing market was continuing to inflate a chief economist named David Stockton remarked about how he had come across a television show where the “gist of the show was that with some spackling , a few strategically placed azaleas and [...]

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Will 2011 Be The Peak Of The Foreclosure Crisis?

January 13, 2011

Real Estate analysts from RealtyTrac Inc. are predicting that 2011 will be the height of the Real Estate crisis with an expected 1.2 million homes being repossessed. Lenders are poised to take back more homes than at any other time since the crisis began in 2006. At this time there are 5 million borrowers who [...]

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Good News On Retail Front For Holidays

December 29, 2010

Holiday sales over the 2010 season were up more than 4% from last year to approximately $525 billion, as per estimates from the National Retail Federation. And online sales had even more impressive gains with $36 billion in sales for this year alone, which is up 15.4% over last year. Yet even with the increase [...]

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Halt On Foreclosures Will Hold Up The Market Further

October 12, 2010

The nationwide halt on foreclosures by Bank of America, along with other banks that are considering the same thing will most likely slow up the real estate market even more. The problem lies in the many foreclosures that are currently and soon to be on the market. If there is any type of “mortgage fraud” [...]

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Improve Your Job Search By Repairing Your Credit

September 29, 2010

Few people realize that having a high credit score can be beneficial when searching for a job. While it is obvious that a high credit score will affect getting a loan, the fact is that by law an employer can refuse to hire an applicant based solely on their credit report. Employers may feel that [...]

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Real Estate Recovery Being Held Hostage By Credit Scores

September 28, 2010

Nearly a third of all Americans are unable to secure a mortgage in these challenging times. According to the real estate website, Zillow, people with credit scores below 620 were unable to secure mortgage financing even when they had a solid source of income and offered a down payment of 15-25%. According to myFICO.com as [...]

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