Auto Loans Paid Before Credit Cards, Mortgages

Managing Debt

Auto Loans Paid Before Credit Cards, Mortgages

Auto Loans Paid Before Credit Cards, Mortgages

In recent months, a number of studies have shown that consumers are prioritizing their credit card payments ahead of those on their home loans, but it seems that another type of credit is becoming even more important to borrowers. These days, consumers are putting more effort into making sure their auto loan bills are paid… Read More

CFPB’s New Guidelines for Mortgage Servicing

Mortgages

CFPB’s New Guidelines for Mortgage Servicing

CFPB’s New Guidelines for Mortgage Servicing

The Consumer Financial Protection Bureau will formally introduce a number of proposed rules for the mortgage servicing industry later this summer, aiming to have them finalized by January of next year, according to a report from the new watchdog agency. Oftentimes, consumers don’t even have the option of choosing their own mortgage servicer, as the… Read More

Consumers Paying Credit Card Debt Instead of Mortgages

Managing Debt

Consumers Paying Credit Card Debt Instead of Mortgages

Consumers Paying Credit Card Debt Instead of Mortgages

During and immediately following the recent recession, many consumers worried more about paying their credit card bills on time, instead of their mortgages. Now some indicators reveal that trend may be rearing its head again. The latest Credit Risk Index from the credit monitoring bureau TransUnion recently found that consumer credit risk rose at the… Read More

Mortgage Lending Standards Tightening Up

Mortgages

Mortgage Lending Standards Tightening Up

Mortgage Lending Standards Tightening Up

Consumers who are trying to obtain a home loan these days, regardless of whether it’s backed by the federal government, will likely have a hard time doing so unless they have sterling credit scores and the ability to make significant down payments. New data from the tech firm Ellie Mae shows that the average credit… Read More

Experts Still Worried About Student Loan Debt

Students

Experts Still Worried About Student Loan Debt

Experts Still Worried About Student Loan Debt

In recent months, the amount of money being borrowed by consumers has grown considerably, and is now approaching pre-recession levels in some cases. As the effects of the recent recession continue to wane, the nation has seen upticks in consumer credit usage, which some experts say may be an indicator that consumers are once again… Read More

Obama’s Mortgage Task Force: Working Hard or Hardly Working?

Mortgages

Obama’s Mortgage Task Force: Working Hard or Hardly Working?

Obama’s Mortgage Task Force: Working Hard or Hardly Working?

Maybe you’re reading about it less and less. It doesn’t seem to be the lead story on many national news broadcasts anymore. But it’s still there, festering away like an untreated wound. The foreclosure crisis and the morass of other problems surrounding persistently problematic real estate prices, unwise loans made to now-bereft homeowners, and predatory… Read More

Review: Marriott Rewards Credit Card

Credit Cards

Review: Marriott Rewards Credit Card

Review: Marriott Rewards Credit Card

If you prefer to stay at Marriott hotels when you’re on the road, you should check out the Marriott Rewards Credit Card. I’m not particularly loyal to a specific brand, but I’ve often stayed at Marriott properties, especially when I travel with my family because the rates are usually pretty good. I’ll let you know… Read More

Mortgage Insurance Shocker: Collections After Default

Mortgages

Mortgage Insurance Shocker: Collections After Default

Mortgage Insurance Shocker: Collections After Default

Homeowners who obtain low down payment mortgage loans are often required to pay monthly premiums for mortgage insurance (MI). Mortgage insurance helps protects lenders in case borrowers default by reimbursing some of the lender’s loss. But homeowners who purchase MI may not understand that if they lose their homes to foreclosure, the insurer may come… Read More

Recent Data Breach Raises Credit Card Security Concerns

Identity Theft

Recent Data Breach Raises Credit Card Security Concerns

Recent Data Breach Raises Credit Card Security Concerns

Late last month, a major processor of debit and credit card payments suffered a data breach that exposed the account data for more than 1.5 million cards. Now, experts wonder if more can be done at the federal level to better protect consumers’ sensitive financial details. Data breaches that exposed private account information, and even… Read More

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