Financial News

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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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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Simple Credit- A Worthy Goal

September 24, 2010

Last week, President Obama tapped Elizabeth Warren to set up the Federal Government’ new Consumer Financial Protection Agency. And she has a big job ahead of her. But she has expressed that a high priority on her list is to make credit simple. Understandable. Reasonable. Like, for example, a credit card agreement that is only [...]

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Student Loan Debts Overtake Credit Cards

September 20, 2010

For years the credit card debt in the United States trumped all. All other types of debts, that is. Meaning that credit card debt was higher than any other types of debt for the majority of Americans. But recently another type of debt has become the largest debt. Student loan debt has now exceeded the [...]

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The State Of Housing

September 14, 2010

Not so good but possibly stabilizing. That is the verdict from Harvard’s Joint Center for Housing Studies 2010 report on the state of the American Housing Market. “The nation has not faced housing problems of this magnitude since the Great Depression.” Job losses and high unemployment of course, have contributed and also the significant decrease [...]

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It’s Labor Day—What Kind Of Capitalism Do You Support?

September 6, 2010

Today is Labor Day and unfortunately this year many American’s are without a job. Unemployment is at record levels and the economy is in the tank, so to speak. It is reminiscent of the times of FDR and the Great Depression. At that time FDR worked to help all American’s by implementing such things as [...]

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Short Sales Becoming Anything But Short

September 1, 2010

Rumor has it that in the area where I live, a smaller community that just came about around 2006, every single home sale is either a short sale or a foreclosure. And the truth is that not “every” home sale has to be a short sale or a foreclosure, there are those few people who [...]

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Spending Up But Debt Down

August 31, 2010

Credit card spending is up this year over the same time as 2009 indicating a bit more confidence from consumers; however, credit card debt has dropped to the lowest level in eight years. The last time spending was up was the third quarter of 2008 right before the financial meltdown hit the most people. Read [...]

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Sales Of Previously Occupied Homes Lowest In 15 Years

August 24, 2010

July 2010 statistics on home sales or previously owned homes fell by more than 27 percent to a seasonally adjusted 3.83 million, the National Association of Realtors reported on Tuesday. This represented the largest monthly drop on record, dating back to 1968 and it also included every region of the country. This followed the expiration [...]

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Economic Tweets Worth Mentioning

August 20, 2010

Funny and insightful tweets about the economy, credit cards and more. Enjoy! From Sherrill3773, SybilBillings, Maryjo8019 and many, many more…. · Blaming Obama for the economy is like blaming your hangover on the guy making breakfast. From FoxTrot1984 · New FN poll shows majority of Americans think Obama should stop blaming Bush on the economy [...]

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