List/Grid Monthly Archives: March 2011

Mortgages, Credit and Financial Responsibility

There are a lot of valid reasons for avoiding credit. However, there are also some reasons you should have credit. Many mortgage companies are now requiring 3 open lines of credit along with a good down payment and a 750 plus credit score in order to qualify for a new mortgage to purchase a home. And with the mortgage crisis that is going on and the millions of foreclosures out there, this practice is just prolonging the agony of the bad market. If there is a glut of inventory, which there is, and it is exceptionally difficult to qualify for ...
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Mortgage Delinquencies Decline

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 at this time. Right now there are approximately 2,196,000 foreclosures in the market and there is a total of 6.865,000 that are 30 delinquent or already in the foreclosure process. The states with the highest numbers of foreclosures ...
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Consumers Cutting Back On Credit Cards

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 but consumers in every category have been cutting back and using credit cards less. Cash and debit card use has increased while the use of credit cards has declined contributing to softer profits for the credit ...
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Consumer Protection Week

In case you haven’t been thinking about such things as ‘Caveat Emptor”, buyer beware or looking after your rights as a consumer, you are invited to do so this week as it is “Consumer Protection Week”. Consumers across the country are being advised to know and take full advantage of their rights as consumers and to make better, more informed decisions. So that is a great reminder to get your free credit report if you haven’t got one for the past year. Go to Annualcreditreport.com And check it out. Look for errors, mistakes, ...
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Credit Repair Companies Can Assist You To Achieve Good Credit

Good credit is almost essential for most people. It can be extremely difficult to buy larger items outright with cash for an ordinary middle-class family. Therefore it becomes necessary to get loans for the bigger items such as cars and especially houses. Good credit can also help you to secure the lowest interest rates and the best terms for your new loans. And recently good credit has also become important to secure jobs and to get the lowest insurance rates. However, even though it is very important to maintain good credit it has been ...
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