The Silver Lining in the U.S. Debt Downgrade

Personal Finance

The Silver Lining in the U.S. Debt Downgrade

The Silver Lining in the U.S. Debt Downgrade

No matter which side of the political fence or economic Continental Divide you sit on, few can deny that this was the week that was. It began with the controversial debt-ceiling deal about which I wrote in my last column. Shortly after the President signed off and the legislation became law—a remarkably silly law, even… Read More

Obama Administration Weighs Foreclosure Rental Program

Mortgages

Obama Administration Weighs Foreclosure Rental Program

Obama Administration Weighs Foreclosure Rental Program

The Federal Housing Finance Authority is currently accepting suggestions from investors about how best to begin renting about 250,000 foreclosed homes currently owned by government-backed mortgage giants Fannie Mae and Freddie Mac, according to a report from the Associated Press. The hope is that by doing so, it would help to raise the slumping property… Read More

Fannie and Freddie to World: Uh, You Guys Got Any Better Ideas?

Mortgages

Fannie and Freddie to World: Uh, You Guys Got Any Better Ideas?

Fannie and Freddie to World: Uh, You Guys Got Any Better Ideas?

In case you haven’t noticed, the government owns a ton of houses these days. At last count Fannie Mae, Freddie Mac and the Federal Housing Administration own 248,645 homes of all different sizes and conditions. About 70,000 of those are currently on the market, says Stephanie Johnson, spokeswoman for the Federal Housing Finance Agency, which… Read More

Financial News Roundup: Government To Rent Foreclosures, Americans Lack Emergency Funds

Mortgages

Financial News Roundup: Government To Rent Foreclosures, Americans Lack Emergency Funds

Financial News Roundup: Government To Rent Foreclosures, Americans Lack Emergency Funds

Today’s top news headlines feature new government proposals to convert foreclosed homes into rental properties and the newest industry that may suffer the ill effects of the credit downgrade. Plus, find out how many U.S. households are prepared for a financial emergency. Majority of Americans Ill-Equipped To Handle A Small Financial Emergency CNN Money A… Read More

H&R Block Reaches $125 Million Settlement Over Loan Probe

Personal Loans

H&R Block Reaches $125 Million Settlement Over Loan Probe

H&R Block Reaches $125 Million Settlement Over Loan Probe

H&R Block will pay $125 million to settle claims of unfair and discriminatory lending practices, with most of the money going toward repayment to borrowers who took out loans likely destined for failure, according to an announcement Tuesday by the Massachusetts attorney general. H&R Block’s subsidiary, Option One, “made loans that it knew were likely… Read More

More Homeowners Paying their Mortgage Bills on Time

Mortgages

More Homeowners Paying their Mortgage Bills on Time

More Homeowners Paying their Mortgage Bills on Time

The rate at which consumers allowed their mortgages to fall 60 days or more past due fell to just 5.82 percent during the second quarter of the year, the sixth straight three-month period in which the rate has fallen, according to the latest statistics from the credit monitoring bureau TransUnion. This rate was down 12.74… Read More

Another Big For-Profit University Accused of Enrollment Fraud

Students

Another Big For-Profit University Accused of Enrollment Fraud

Another Big For-Profit University Accused of Enrollment Fraud

The nation’s second-largest for-profit university company was sued Monday by the Justice Department and four states for paying recruiters based on the number of students they signed up. The practice caused the company to enroll unqualified students, many of whom defaulted on their student loans, according to a government press release. The company, Pittsburgh-based Education… Read More

Fed to Keep Rates Low for Next 2 Years to Stave Off Recession

Mortgages

Fed to Keep Rates Low for Next 2 Years to Stave Off Recession

Fed to Keep Rates Low for Next 2 Years to Stave Off Recession

The Federal Reserve Board announced Tuesday that it expects the economy will remain weak “at least through mid-2013.” To try to spur some growth, or at least stave off a major recession, the agency’s Federal Open Market Committee announced that it will keep the federal funds rate at historic lows for at least the next… Read More

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