Financial News

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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The Crazy Credit Catch-22

March 23, 2011

Remember Catch-22 and that “damned if you do, damned if you don’t” mentality? Well that is exactly how credit works these days. If you are responsible, pay off all your debts on time and live a relatively debt-free, all cash life, you can be penalized by mortgage companies when you want to purchase a home. [...]

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Mortgage Delinquencies Decline

March 22, 2011

The mortgages that are at least 30 days late decreased more last month than it has in over a year. Delinquencies in February 2011 were down 1.2 percent from January 2011 and 18.4 percent from last year at this same time. But the foreclosure inventories are still quite high and significantly higher than last year [...]

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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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CARD Act Deemed A Success

February 25, 2011

It’s been a full year since the complete implementation of the CARD act and so far it looks as if it has been a success. Even though the past year has brought on tighter credit availability and a rise in interest rates these have been attributed to economic downturns and not the CARD act. The [...]

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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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The Taxman Delayeth

January 4, 2011

Is delayeth a word? Nope, it’s not, but you still get the gist of it. Tax day, that day that we all know is always April 15, will be delayed this year until April 18th. So in 2011 the taxman will cometh and you will have to file and pay by April 18th, 2011 due [...]

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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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