Time to Act if You Need a High Balance Mortgage

Mortgages

Time to Act if You Need a High Balance Mortgage

Time to Act if You Need a High Balance Mortgage

The normal Fannie Mae and Freddie Mac conforming loan limit for single family homes is $417,000.  This number is supposed to be correlated with housing prices, and even though housing prices are off 20% or more in the last two years, that limit was left in place. In the recent economic collapse, the private end… Read More

More Hurdles for Mortgage Servicing Deal

Mortgages

More Hurdles for Mortgage Servicing Deal

More Hurdles for Mortgage Servicing Deal

Opposition is growing to proposed new rules for loan servicers, creating more uncertainty about how most American mortgages will be handled, and who will be responsible for preventing illegal foreclosures. After an investigation by state banking regulators and all 50 attorneys general into alleged wrongdoings by the mortgage servicing industry, the coalition sent a 27-page… Read More

Congress Won’t Cut Mortgage Interest Tax Break

Mortgages

Congress Won’t Cut Mortgage Interest Tax Break

Congress Won’t Cut Mortgage Interest Tax Break

U.S. House Majority Leader Eric Cantor, speaking before the Richmond Association of Realtors in his home state of Virginia, said that while the mortgage interest tax deduction may spring up in conversation about saving the federal government money, it’s unlikely to face the ax, according to a report from political news site The Hill. Instead,… Read More

Donating to Japan Disaster Relief? Avoid These Scams

Identity Theft

Donating to Japan Disaster Relief? Avoid These Scams

Donating to Japan Disaster Relief? Avoid These Scams

In the wake of a natural disaster, many feel a natural urge to donate. Unfortunately, scam artists have an equally predictable response—they pose as relief agencies or charitable organizations in hopes of intercepting money or personal information. It happened after Hurricane Katrina. It happened after the earthquake in Haiti. Now, it’s happening again, in the… Read More

Credit Card Industry Change May Not Come Soon

Credit Cards

Credit Card Industry Change May Not Come Soon

Credit Card Industry Change May Not Come Soon

A number of different industries—cellphone manufacturers, credit card lenders, banks and service providers—will have to come to a consensus on how so-called mobile wallets, which will allow consumers to load debit or credit card information onto their smartphones, are going to work, according to a report from the New York Times. Millions of handsets across… Read More

Lender Offers Home Loan Help to Thousands

Mortgages

Lender Offers Home Loan Help to Thousands

Lender Offers Home Loan Help to Thousands

About 2,400 people in Central Ohio recently received letters from JPMorgan Chase inviting them to a home loan counseling seminar in Columbus because they are in danger of losing their property to foreclosure, according to a report from the Columbus Dispatch. At the event, consumers can at least get a better understanding of their situation,… Read More

“Fake Court” Collections Victim Wants Money Back

Managing Debt

“Fake Court” Collections Victim Wants Money Back

“Fake Court” Collections Victim Wants Money Back

When Marilyn Johnson’s husband died, she couldn’t afford the entire bill for the funeral, leaving her with an unpaid debt of $2,142 to the funeral home. The bill went to a debt collector, and soon Johnson found herself facing a judge in a courtroom. By then, Johnson owed $4,047 in debt plus fees, the judge… Read More

Follow Friday: Weekly Web Roundup (3/24/11)

Personal Finance

Follow Friday: Weekly Web Roundup (3/24/11)

Follow Friday: Weekly Web Roundup (3/24/11)

This week’s roundup includes stories about improvements for consumers. Some of them are coming around legislatively, some of them are coming from the consumers themselves and some are barely improvements at all. Still, they are improvements nonetheless. We encourage you to follow the contributors you enjoy on twitter for regular updates. And don’t forget to… Read More

Fed Closes More CARD Act Loopholes

Credit Cards

Fed Closes More CARD Act Loopholes

Fed Closes More CARD Act Loopholes

Since the Credit CARD Act was signed into law on May 22, 2009, credit cards have become safer and their terms more straightforward—at least according to the Consumer Financial Protection Bureau. But regulators continue to scrutinize the industry as some creative card issuers continue looking for ways to boost their bottom line. In its final… Read More

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