Controversial Mortgage Rule Left to CFPB

Mortgages

Controversial Mortgage Rule Left to CFPB

Controversial Mortgage Rule Left to CFPB

The Federal Reserve says its controversial proposal, which would force borrowers to pay off the principal of a mortgage canceled because it violated Truth in Lending Laws, will be decided on by the Consumer Financial Protection Bureau, according to a report from Reuters. The proposal has drawn fire from consumer groups and lawmakers alike because… Read More

TweetChat Recap: Credit.com Credit Experts

Personal Finance

TweetChat Recap: Credit.com Credit Experts

TweetChat Recap: Credit.com Credit Experts

Earlier today, Credit.com hosted our first Credit Experts TweetChat on Twitter.  A big thank you to everyone who participated this afternoon!  For those that missed it, we had Credit.com’s Farnoosh Torabi online to answer your questions about student loans, paying for college, financial aide and dealing with student loan debt. I’ve included some of the… Read More

5 Ways to Encourage Your Spouse to Save

Personal Finance

5 Ways to Encourage Your Spouse to Save

5 Ways to Encourage Your Spouse to Save

Like many married couples, you may discover early on in the relationship that your soul mate is also your financial opposite. You’re organized, while the other is an organized “mess.” You’re frugal and cut coupons, while your mate is a big spender who rarely price compares.  You check your credit regularly, while your partner’s totally out of touch. With so… Read More

Fake Payday Loan Collector Scam Continues

Managing Debt

Fake Payday Loan Collector Scam Continues

Fake Payday Loan Collector Scam Continues

I received a call from Maria Brown of Houston, TX, who’s getting threatening phone calls from fraudsters pretending to be debt collectors. “They contacted me and really had me believe I was going to jail for check fraud,” Brown says. How can I tell these guys are scammers? First, they keep threatening Brown that she’s… Read More

Financial News Roundup: BofA Settles Lawsuit, Millions Stop Seeking Employment

Personal Finance

Financial News Roundup: BofA Settles Lawsuit, Millions Stop Seeking Employment

Financial News Roundup: BofA Settles Lawsuit, Millions Stop Seeking Employment

Today’s top news headlines feature new debt rules for mortgage applicants and a revised set of regulations for receiving federal financial aid funding. Plus, find out how many discouraged Americans stopped looking for a job. New Financial Aid Eligibility Requirements Plague For-Profit Schools The New York Times For-profit universities are likely to see a new… Read More

Judges’ Revolt Against Faulty Foreclosures Spreads to Ohio

Mortgages

Judges’ Revolt Against Faulty Foreclosures Spreads to Ohio

Judges’ Revolt Against Faulty Foreclosures Spreads to Ohio

We’ve reported how judges in Massachusetts, New York and Florida are clamping down on the foreclosure process, forcing lenders and loan servicers to prove that they actually own the debt before they can try to foreclose. Now the movement has spread to Ohio. Three judges in Franklin County, which includes Columbus, announced recently that they… Read More

How to Build Credit if You Are New to the United States

Credit Score

How to Build Credit if You Are New to the United States

How to Build Credit if You Are New to the United States

If you are an immigrant, you may find establishing credit in the United States difficult and frustrating. Here we will provide some tips for making the process a little easier. There are three major credit reporting agencies (CRAs) in the United States: Equifax, Experian and TransUnion. These companies are not government organizations, and they are in competition… Read More

Do We Just Have Too Many Bank Branches?

Personal Finance

Do We Just Have Too Many Bank Branches?

Do We Just Have Too Many Bank Branches?

Is your bank usually deserted? Market Rates Insight may know why. The banking industry research company just published a new report suggesting that in some states, banks and credit unions may have built too many branches for the number of people living nearby. The mismatch is most pronounced in Rhode Island, which saw a 15.5%… Read More

Chase to Open More Home Loan Counseling Centers

Mortgages

Chase to Open More Home Loan Counseling Centers

Chase to Open More Home Loan Counseling Centers

JPMorgan Chase will open 25 new homeownership centers in 19 states all over the country to better help cash-strapped consumers avoid the threat of foreclosure, according to a report from the company. These centers provide Chase customers with the ability to sit down with a company representative and find ways to keep their home even… Read More

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