Fannie, Freddie Won’t Be Eliminated by Lawmakers

Mortgages

Fannie, Freddie Won’t Be Eliminated by Lawmakers

Fannie, Freddie Won’t Be Eliminated by Lawmakers

Currently, Fannie and Freddie back more than half of all mortgages nationwide, with loans valued at more than $5.3 trillion, according to a report from the Washington Times. Consequently, the fact that the two home loan giants have lost about $150 billion since being taken over by the federal government – a figure that could… Read More

New Consumer Bureau Wants To Be Your Friend

Personal Finance

New Consumer Bureau Wants To Be Your Friend

New Consumer Bureau Wants To Be Your Friend

The Consumer Financial Protection Bureau launched its website last week, and already it has 1,288 Facebook friends. There are videos of bureau employees responding to comments posted by consumers on Twitter, Facebook and Youtube. In short, this is not your grandfather’s federal agency. “For the first time in many years we have the opportunity to… Read More

Credit Card Q&A: Can I Change the Due Date on My Credit Card Statement?

Credit 101

Credit Card Q&A: Can I Change the Due Date on My Credit Card Statement?

Credit Card Q&A: Can I Change the Due Date on My Credit Card Statement?

Credit Question: Can I change the due date on my credit card statement? Answer: I hear this question a lot. And I love hearing it because it shows that consumers are thinking about what actions they can take to make their credit lives better. While there isn’t a hard-and-fast rule about this among credit card issuers,… Read More

Fed: Credit Card Debt Rises for 1st Time Since 2008

Credit Cards

Fed: Credit Card Debt Rises for 1st Time Since 2008

Fed: Credit Card Debt Rises for 1st Time Since 2008

After two and a half years of charging less, Americans’ credit card debt rose in December for the first time since 2008, according to new data released Monday by the Federal Reserve. Revolving debt, which mostly means credit card charges, rose by $2.3 billion in December to $800.5 billion, a 3.5% increase from the previous… Read More

Financial News Roundup: Taxes Fall To Record Lows, Mortgage Shopping Made Easier

Personal Finance

Financial News Roundup: Taxes Fall To Record Lows, Mortgage Shopping Made Easier

Financial News Roundup: Taxes Fall To Record Lows, Mortgage Shopping Made Easier

Today’s top news headlines feature the reasons businesses are not hiring more employees, despite improvements in their profitability. Plus, read one woman’s story who was assigned a 79.9 percent annual percentage rate. Mortgage Comparison Websites Become Popular The New York Times More mortgage websites are updating their web pages to make it easier for consumers… Read More

Consumer Debt Up 20% – But Are the Numbers On the Up and Up?

Managing Debt

Consumer Debt Up 20% – But Are the Numbers On the Up and Up?

Consumer Debt Up 20% – But Are the Numbers On the Up and Up?

A large US credit counseling firm says, “pay no attention” to news that American consumers are shoring up their debt burdens. On the contrary, personal debt is growing higher. What’s the real story? The debt counseling firm is American Consumer Credit Counseling (ACCC). The group’s chief operating officer, Steven Trumble, told The Boston Herald on… Read More

Hollywood Video Collectors Violate Law Over Movie Late Fees

Managing Debt

Hollywood Video Collectors Violate Law Over Movie Late Fees

Hollywood Video Collectors Violate Law Over Movie Late Fees

by Adam Levin and Gerri Detweiler If You’re Late Paying for the Picture, No Home Movie for You In 1957 legendary film producer Robert Evans was picked to play the part of the matador Pedro Romero in “The Sun Also Rises.” Over the vigorous objections of superstars Ava Gardner, Ernest Hemingway and Errol Flynn, iconic… Read More

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

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