Lawmaker Warns: Swipe-Fee Agreement Will Deter Potential Caps

Credit Cards

Lawmaker Warns: Swipe-Fee Agreement Will Deter Potential Caps

Lawmaker Warns: Swipe-Fee Agreement Will Deter Potential Caps

The recent settlement agreement between a number of retail groups and the world’s two largest processors of credit and debit card payments has drawn considerable fire, and now a well-known federal lawmaker has weighed in. The office of Sen. Richard Durbin (D-Ill.) recently urged retailers to take all efforts to have Congress reject a recent… Read More

Why Do I Need to Sign My Credit Card?

Credit Cards

Why Do I Need to Sign My Credit Card?

Why Do I Need to Sign My Credit Card?

On the back of every credit card are two security measures. One is the CVV code, a three-digit code used for “card not present” transactions like making an online purchase. Any reputable online retailer will ask for that code upon checkout to make sure that you actually have the card in your possession (and aren’t… Read More

Borrowers Taking on More Debt, Credit Cards

Managing Debt

Borrowers Taking on More Debt, Credit Cards

Borrowers Taking on More Debt, Credit Cards

Credit card users took on more debt and opened more accounts in the second quarter of the year, but simultaneously continued to reduce instances of significantly late payments. Credit card delinquency of 90 days or more fell to near 14-year lows even as average outstanding balances and new account origination increased between April and June,… Read More

What’s Dragging Down Your Credit Score?

Credit 101

What’s Dragging Down Your Credit Score?

What’s Dragging Down Your Credit Score?

There are several factors used to make up a consumer’s credit rating, but do you know if your score is as high as it should — or could — be?  Are there items in your credit report that are dragging your score down?  If so, some credit problems can be fixed relatively easily.  But you… Read More

The New Solution to Getting Your Home Above Water

Mortgages

The New Solution to Getting Your Home Above Water

The New Solution to Getting Your Home Above Water

Homeowners who are severely underwater but want to keep their homes often have few options.  They can try to get their lender to modify their loan, but with Federal Housing Finance Agency head Ed DeMarco refusing to allow principal reductions on loans owned or guaranteed by Fannie Mae or Freddie Mac, chances are slim that… Read More

Are Personal Loans the New Credit Cards?

Personal Loans

Are Personal Loans the New Credit Cards?

Are Personal Loans the New Credit Cards?

In the wake of the recession, America seems to have partially kicked its addiction to credit card debt. According to the Federal Reserve’s quarterly consumer credit report, American consumers have seen a massive net reduction in their holdings of revolving debt, a category comprised almost entirely of outstanding credit card balances. After reaching $1.01 trillion… Read More

VA Home Loans Make a Difference for a New Generation

Mortgages

VA Home Loans Make a Difference for a New Generation

VA Home Loans Make a Difference for a New Generation

Nearing its 70th anniversary, the VA loan guaranty program and its benefits — no down payment, no private mortgage insurance and seller-paid closing costs — have emerged as a lifeline for veterans and military families during a time of tight credit. Military borrowers have increasingly flocked to these government-backed loans over the last five years…. Read More

The Best Mortgage Advice on Twitter

Mortgages

The Best Mortgage Advice on Twitter

The Best Mortgage Advice on Twitter

Mortgage advice is hard to fit into 140 characters, but these experts, commentators and news outlets are doing their best to keep their followers informed. Below, we round up five of our favorite mortgage tweeters and explain what they each bring to the table. To follow them, simply click on their handle below. @AOLrealestate Sample… Read More

New Rules Could Protect Homeowners from Foreclosure

Mortgages

New Rules Could Protect Homeowners from Foreclosure

New Rules Could Protect Homeowners from Foreclosure

A proposal from the government’s consumer lending watchdog would protect homeowners from unexpected fees, poor service and costly errors caused by companies that collect their monthly mortgage payments. The new rules, proposed by the Consumer Financial Protection Bureau, also would require mortgage servicers to make homeowners’ monthly mortgage statements much easier to understand. “These proposed… Read More

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