List/Grid Monthly Archives: May 2010

CROA-Credit Repair Organizations Act

Right now there are many credit repair solutions available to consumers. The fact is that right now many people are in need of credit repair and improvement because of the economic fallout that has occurred in the past few years. But if you are looking for credit repair you should be aware that there is a law that regulates credit repair companies. The Credit Repair Organizations Act outlines the rights of consumers and regulates Credit Repair organizations. You can read the full Credit Repair Organizations Act at the FTC website.
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Mortgage Interest Rates Expected To Hit 50-Year Lows

Mortgage rates are hitting near 50-year lows. Many industry experts are now saying that rates could go as low as 4.5% by summer. Refinances of existing mortgages is expected to increase, however, there are many who will be shut out of the market due to the housing declines throughout the country, where many people actually owe more on their homes than they are worth, making it impossible for those people to refinance. Since the $8000 tax credit on home purchases is over, new mortgage loan applications have declined dramatically. According to the ...
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Need A Credit Card?

We found a great resource online for those who are looking for a credit card. From excellent credit to bad credit or even limited credit you can just input your info and it will bring up the best offers available that meet your criteria. With good credit you may want rewards or 0% on purchases. With bad credit of course, you options are more limited but you can find a few of the best offers for secured credit cards or even unsecured credit cards for people with bad credit, which can help you to repair and improve your credit as you go. Check out ...
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Free Credit Scores In Certain Instances

As a consumer, you have been entitled to get a free credit report from each of the big three credit reporting agencies one time per year for quite some time however, if you wanted the credit scores that go along with it you had to pay a fee. Well, the Financial Regulatory Bill that has been being debated by Congress for the past few weeks and that the U.S. Senate approved just last week has a requirement that lenders must provide you with the credit score they used if they happened to deny you because of it. This would include a denial of credit, ...
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Banks Protecting Their Profits

The CARD act that went into effect back in February 2010, specifies that any payment above and beyond the minimum must be applied to the highest interest rate balance first. However, the minimum payment goes to the portion of your loan with the lowest interest rate, thereby allowing the banks to continue to earn interest on the highest interest rate for a longer period of time. Cash advance money typically carries a higher interest rate than the interest rate for regular charges. There may be a few other extenuating circumstances that would also ...
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Expect A Hit To Your Credit Score

Many homeowners are facing unforeseen troubles right now. All across the country there are foreclosures in records numbers due to the troubled economy and lax lending standards in the past. Also many homeowners are unable to sell their home for enough to cover their mortgages if they do have to move. However, many of the solutions that are being offered will still hurt your credit. If you must sell and move and you cannot get a high enough price to cover your mortgage you can get a short sale, meaning that the mortgage company will agree to take ...
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Pay More Or Pay The Minimum?

Most people realize that if they pay the minimum payment on their credit cards that it may take years upon years to get it paid off. In fact, now that fact should be in plain view on every single one of your credit card statements, exactly how long it will take to pay off the remaining balance if you were to only pay the minimum. And paying more is much better for your finances. Seriously, who in their right mind wants to pay all that extra interest to the credit card companies if they can pay the extra towards the principal? But you may not realize ...
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Think You Don’t Need A Credit Repair Professional?

Much of the criticism about credit repair companies and law firms center around the fact that you can do almost everything they do by yourself. You don’t actually need to hire a professional. That’s true. You can do almost everything on your own, if you have the time. But even more importantly, do you have the expertise? A recent article from the San Francisco Chronicle outlines the problems of credit reports and how difficult it can be to get even inaccurate information deleted from a report. And while the FCRA was designed to protect consumers ...
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