New Legislation Aims to Curb Mortgage Servicer Abuses

Mortgages

New Legislation Aims to Curb Mortgage Servicer Abuses

New Legislation Aims to Curb Mortgage Servicer Abuses

Over one million homes were foreclosed upon last year, and an estimated 8-10 million homes still face foreclosure. As things stand now, homeowners who try to work with their lenders to modify their loans will often find themselves facing a nightmare of lost paperwork, conflicting advice, and delays that ultimately cost them their homes. U.S…. Read More

Financial News Roundup: HSBC Maintains Foreclosure Freeze, Family Healthcare Costs Increase

Personal Finance

Financial News Roundup: HSBC Maintains Foreclosure Freeze, Family Healthcare Costs Increase

Financial News Roundup: HSBC Maintains Foreclosure Freeze, Family Healthcare Costs Increase

Today’s top news headlines feature a significant rise in the amount of money households are paying for medical care and a study revealing many unemployed Americans are seeing their jobless benefits reduced by fees. Plus, find out why HSBC has not lifted its foreclosure freeze. Family Healthcare Costs Nearly Double From 2002 CNN Money Employer-sponsored… Read More

Report: Fannie Mae Still Hungover from Mortgage Party

Mortgages

Report: Fannie Mae Still Hungover from Mortgage Party

Report: Fannie Mae Still Hungover from Mortgage Party

Fannie Mae, the taxpayer-owned company that is the nation’s largest mortgage lender and insurer of new mortgages, lost $6.5 billion in the first four months of 2011, according to the company’s latest financial report. That’s a big change from the previous quarter, when Fannie Mae made $73 million in profit. The loss was due mostly… Read More

A Financial Time-Out With High School Students

Students

A Financial Time-Out With High School Students

A Financial Time-Out With High School Students

High school students are a tough crowd. This afternoon I stopped by Essex Street Academy, a public high school on the Lower East Side in Manhattan, to give a brief talk about money to an auditorium filled with 350 juniors and seniors.  I wasn’t given any parameters, just forty-five minutes and knowledge that most students… Read More

Home Values Continued to Tumble in the First Quarter

Mortgages

Home Values Continued to Tumble in the First Quarter

Home Values Continued to Tumble in the First Quarter

Home values at the end of March were 8.2 percent lower than they were at the same time in 2010, and 1 percent lower than what they were in February, according to the most recent data from the housing market tracking firm Zillow. Currently, the average U.S. home is worth 29.5 percent less than it… Read More

Password Manager LastPass Suffers Possible Data Breach

Identity Theft

Password Manager LastPass Suffers Possible Data Breach

Password Manager LastPass Suffers Possible Data Breach

By Identity Theft 911 A free service that lets consumers digitally store all their passwords for their various website logins now suspects it was hit by hackers, leaving millions of accounts of all types vulnerable. Currently, more than 1 million consumers utilize the password manager LastPass, but now the company, fearful that it has been… Read More

Getting a Divorce?  Here’s How to Protect Your Credit

Credit Score

Getting a Divorce? Here’s How to Protect Your Credit

Getting a Divorce?  Here’s How to Protect Your Credit

Going through a divorce is a painful experience on many levels. Adding to the stress are the many important decisions you need to make that will have both short- and long-term impacts.  If you are planning to divorce or have finalized a divorce, decisions regarding personal finances—including your credit—are extremely important and need to be… Read More

Financial News Roundup: Home Prices Plummet, Mortgage Fraud Rises

Mortgages

Financial News Roundup: Home Prices Plummet, Mortgage Fraud Rises

Financial News Roundup: Home Prices Plummet, Mortgage Fraud Rises

Today’s top news headlines feature obstacles to the housing market, including falling home prices as a result of foreclosure and an increase in the incidence of mortgage scams. Plus, find out why more Americans are appealing their property taxes. Foreclosures Drag Down Home Prices CNN Money Elevated foreclosure rates are negatively impacting U.S. home values,… Read More

Hollywood Video Collection Abuses Stopped

Credit Score

Hollywood Video Collection Abuses Stopped

Hollywood Video Collection Abuses Stopped

Imagine getting turned down for a mortgage or a credit card because once, ten years ago, you failed to make good on a video rental fee. Many consumers found themselves in just that situation after Hollywood Video went bankrupt in 2010, and a collection agency working on the company’s behalf tried to collect $244 million… Read More

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