Financial News Roundup: Responsible Homeowners Suffer, Second Recession Looms

Mortgages

Financial News Roundup: Responsible Homeowners Suffer, Second Recession Looms

Financial News Roundup: Responsible Homeowners Suffer, Second Recession Looms

Today’s top news headlines feature analysts’ claims that a second recession is likely to occur and reasons nothing more can be done about improving the employment crisis. Plus, why are homeowners who up-to-date on their mortgage payments unable to secure mortgage help? Mortgage Borrowers With Positive Payment History Unable To Get Help CNN Money Many… Read More

Wall Street Boosts Lobbying Spending, Again

Personal Finance

Wall Street Boosts Lobbying Spending, Again

Wall Street Boosts Lobbying Spending, Again

Wall Street continues to shovel more than a hundred million dollars every three months into lobbying efforts, much of it to try and delay or reverse rules aimed at reforming the industry, according to new data collected by the Center for Responsive Politics. Financial services companies and their trade groups spent $105 million on lobbying… Read More

Mortgage Applications Recovering, but Still Lag

Mortgages

Mortgage Applications Recovering, but Still Lag

Mortgage Applications Recovering, but Still Lag

Overall, the number of consumers who sought to either refinance or obtain a home loan rose 7.1 percent in the week ending July 29, but the increase only brought the total mortgage market back to levels observed last month, according to the latest weekly statistics from the Mortgage Bankers Association. As interest rates dipped, refinance… Read More

Gov’t Asks FAA Safety Inspectors for a Big No-Interest Loan

Personal Loans

Gov’t Asks FAA Safety Inspectors for a Big No-Interest Loan

Gov’t Asks FAA Safety Inspectors for a Big No-Interest Loan

The latest budget blockade in Congress is forcing inspectors responsible for maintaining safety at the nation’s airports to work for free, and charge work expenses to their personal credit cards, raising the possibility that soon many of America’s biggest airports will have no federal safety inspections at all. “I’m at a loss for adjectives to… Read More

Report: To Foreclose, GMAC Filed Bogus Document

Mortgages

Report: To Foreclose, GMAC Filed Bogus Document

Report: To Foreclose, GMAC Filed Bogus Document

Courtesy of investigative news site ProPublica, a new chapter in the robo-signing saga unfolds—a report that GMAC, one of the nation’s largest mortgage management companies, filed a bogus document last year to demonstrate its legal standing to foreclose on a house. The home was originally financed by Ameriquest, one of the largest subprime lenders during… Read More

Proposed Law Could Help Millions Facing Medical Debt

Managing Debt

Proposed Law Could Help Millions Facing Medical Debt

Proposed Law Could Help Millions Facing Medical Debt

No matter which way you look at it, the current system for collecting small medical debts doesn’t work very well. From the consumer’s perspective, a late medical bill for as little as $15 can wind up costing thousands, even years after it’s paid, because it damages our credit scores, causing lenders to see us as… Read More

How to Effectively Deal With Problem Debt

Managing Debt

How to Effectively Deal With Problem Debt

How to Effectively Deal With Problem Debt

Debt is painful. There can be no doubt, besides maybe the loss of a loved one or the death of a friend, that facing bad debt can be a traumatic experience that a large number of people face in their life. I did. But the secrets to digging your way out of debt are logical… Read More

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