Is BofA’s Foreclosure Review Really Independent?

Mortgages

Is BofA’s Foreclosure Review Really Independent?

Is BofA’s Foreclosure Review Really Independent?

Late last year, the country’s bank regulators launched a massive program to evaluate millions of foreclosure cases and compensate homeowners who fell victim to the banks’ flawed or illegal practices. Regulators dubbed it the “Independent Foreclosure Review” to emphasize that the banks would not be making key decisions about loans they had made or serviced…. Read More

Obama or Romney: Who’s Better for Homeowners?

Mortgages

Obama or Romney: Who’s Better for Homeowners?

Obama or Romney: Who’s Better for Homeowners?

When it comes to housing policy, Mitt Romney should have many supporters among Credit.com readers. Every week we receive emails and comments complaining about HAMP and HARP, President Obama’s signature programs to alleviate the mortgage crisis. They include Nima Russell, who calls the government’s rules for modifying her mortgage “very frustrating and unfair!” After getting… Read More

Govt Suing Delinquent Student Loan Borrowers

Students

Govt Suing Delinquent Student Loan Borrowers

Govt Suing Delinquent Student Loan Borrowers

The job market is still a very tough place for those who are unemployed or do not have full-time work, and this can put a significant strain on the wallets of millions of consumers nationwide. Those with outstanding student loan bills, however, might be affected more than others. Prolonged periods of underemployment or even unemployment… Read More

Equifax Settles Claim It Wrongfully Sold Homeowner Data

Credit Score

Equifax Settles Claim It Wrongfully Sold Homeowner Data

Equifax Settles Claim It Wrongfully Sold Homeowner Data

Between early 2008 and early 2010, one of the best-known names in credit reporting sold data on certain delinquent homeowners to third parties, and that information was then re-sold. However, two of the companies involved have now settled cases with the FTC over the actions. The Federal Trade Commission recently reached settlement agreements with both… Read More

Graduated with $130K in MBA & Student Loan Debt: What Now?

Students

Graduated with $130K in MBA & Student Loan Debt: What Now?

Graduated with $130K in MBA & Student Loan Debt: What Now?

Recently, I graduated with an MBA from Georgetown University and $130,000 in student loan debt. It’s a lot of money, I know. But my education is a worthwhile investment from my perspective, and to get a good education these days costs a good chunk of change. The bigger question is what to do now that… Read More

Obama’s Housing Market Efforts a Boon to Mortgage Lenders

Mortgages

Obama’s Housing Market Efforts a Boon to Mortgage Lenders

Obama’s Housing Market Efforts a Boon to Mortgage Lenders

In the past few years, the federal government, and specifically the Obama administration, has made a number of efforts to improve the housing market through regulatory controls, and new data shows these have really paid off for lenders. The housing market has been improving considerably for the last several months. Perhaps the biggest beneficiaries of… Read More

Mobile Wallet Interest Driven Mostly By Marketing

Personal Finance

Mobile Wallet Interest Driven Mostly By Marketing

Mobile Wallet Interest Driven Mostly By Marketing

Lots of attention has been paid to mobile wallet programs in the past several months, and while many are excited about the spending options these present, others note that there may be another motive for developers. The companies behind mobile purchasing platforms like Google Wallet and Isis may be giving consumers a new way to… Read More

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