What Does America’s Credit Downgrade Mean for You?

Personal Finance

What Does America’s Credit Downgrade Mean for You?

What Does America’s Credit Downgrade Mean for You?

There’s lots of bad news surrounding the announcement by Standard & Poor’s to downgrade the credit rating of the U.S. government. The decision will make it more expensive for the country to borrow money, adding to the national debt, and the announcement has thrown the stock market into a serious tizzy. But here’s a surprise:… Read More

CFPB Launches Another New Mortgage Form

Mortgages

CFPB Launches Another New Mortgage Form

CFPB Launches Another New Mortgage Form

The new forms from the new federal Consumer Financial Protection Bureau, put together using ideas from two previous types of paperwork, are now available for review on the agency’s website. Part of the Dodd-Frank Wall Street Reform and Consumer Protection Act mandates that the CFPB combine the two-page Truth In Lending forms with the three-page… Read More

Senators: Jumbo Mortgages Still Need Taxpayers’ Help

Mortgages

Senators: Jumbo Mortgages Still Need Taxpayers’ Help

Senators: Jumbo Mortgages Still Need Taxpayers’ Help

A trio of powerful senators introduced a bill this week that would extend a major government subsidy for the ailing real estate market. If passed, the law would allow taxpayer-owned mortgage companies to continue buying jumbo mortgages, worth up to $729,750. If the bill, or one like it, fails to pass before the end of… Read More

Debt Deal Costly For Some Student Borrowers

Students

Debt Deal Costly For Some Student Borrowers

Debt Deal Costly For Some Student Borrowers

Students seeking new federal loans to afford college or graduate school may find the market somewhat less generous starting next summer. Congress’ last minute debt compromise eliminates close to $1 trillion in spending, including the government’s subsidized interest payments on Stafford loans to graduate and professional students.

Even Doonesbury Wants Warren Senate Run

Personal Finance

Even Doonesbury Wants Warren Senate Run

Even Doonesbury Wants Warren Senate Run

Ever since President Obama skipped over the chance to appoint Elizabeth Warren the first leader of the consumer watchdog agency she essentially created from scratch, there’s been a lot of talk about whether Warren would return home to Massachusetts and run for Senate. Now even a comic strip is getting in on the odds-making. Doonesbury,… Read More

Credit Cards that Help You Save on Back-to-School Expenses

Credit Cards

Credit Cards that Help You Save on Back-to-School Expenses

Credit Cards that Help You Save on Back-to-School Expenses

It’s hard to believe that it’s almost time for school to start. That means it’s also time to think about how you’re going to financially survive all those back-to-school expenses. Really, no matter how old your kids are, it costs plenty to get them dressed and properly supplied for school. My advice is to be… Read More

The Impact of Alternative Credit Reporting Agencies

Credit Score

The Impact of Alternative Credit Reporting Agencies

The Impact of Alternative Credit Reporting Agencies

While many consumers have specific questions about how the credit system works, how credit scores are derived and how the credit reporting system operates, most people today generally understand that their debt (such as car and mortgage loans, credit cards, student loans, etc.) repayment history is reported. Additionally, most of us are aware of the… Read More

Bad Credit? Here are Some Credit Card Options

Credit Score

Bad Credit? Here are Some Credit Card Options

Bad Credit? Here are Some Credit Card Options

The past few years have been financially challenging for many consumers. If your credit took a beating during the Great Recession, you can take a little comfort in knowing that you’re not alone. Those who have bad credit are often referred to as “subprime” borrowers. Generally, if your FICO score is 650 or below, you… Read More

Stronger Credit Education Needed for College Kids

Credit 101

Stronger Credit Education Needed for College Kids

Stronger Credit Education Needed for College Kids

While a number of laws have been put in place in recent years that will prevent consumers under the age of 21 from obtaining new credit cards, many may still be able to obtain them, according to a report from Forbes Magazine. As a result, many parents and students are concerned about the damage caused… Read More

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