Tips to Improve and Rebuild Your Credit

Credit 101

Tips to Improve and Rebuild Your Credit

Tips to Improve and Rebuild Your Credit

There is little doubt that it has become more difficult to get approved for new credit in these challenging economic times.  In response to sluggish employment and a stagnant economy, most lenders are still operating in a risk-averse mode and only approving those applicants with the most stellar credentials (high credit scores, high incomes, large… Read More

Underwater On Your Home? Your Six Options

Mortgages

Underwater On Your Home? Your Six Options

Underwater On Your Home? Your Six Options

Javier Gonzales is still legally a homeowner. But when people ask him if he owns a home, his first instinct is to say “no,” he says. He’s still paying the association fees and insurance on the townhome he bought in 2007, but he stopped paying the mortgage nearly two years ago, and he no longer… Read More

Mortgage Assistance for Unemployed Borrowers Extended

Mortgages

Mortgage Assistance for Unemployed Borrowers Extended

Mortgage Assistance for Unemployed Borrowers Extended

The Federal Housing Administration recently told lenders who controlled mortgages it backed that they must offer 12 months of forbearance to qualified borrowers who are currently unemployed, according to the Department of Housing and Urban Development. A similar rule may also be applied to those institutions participating in the Home Affordable Modification Program in the… Read More

Majority of Americans Say They Don’t Overuse Credit Cards

Credit Cards

Majority of Americans Say They Don’t Overuse Credit Cards

Majority of Americans Say They Don’t Overuse Credit Cards

In all, 71 percent of consumers say they don’t need to cut back on using their credit cards, according to a new poll from Rasmussen Reports. Conversely, just 24 percent acknowledge their overspending on these accounts. Both figures are largely unchanged from a similar poll conducted in April 2009. However, 86 percent of consumers also… Read More

Lawmakers Working to Decide Government’s Role in Housing

Mortgages

Lawmakers Working to Decide Government’s Role in Housing

Lawmakers Working to Decide Government’s Role in Housing

Two members of the House Financial Services Committee from both sides of the aisle have responded to the repeated criticisms of Fannie Mae and Freddie Mac by writing a new bill that would create a government agency to replace the mortgage backing giants as they are wound down, according to a report from Bloomberg News…. Read More

Safer Online and Mobile Banking In the Works

Personal Finance

Safer Online and Mobile Banking In the Works

Safer Online and Mobile Banking In the Works

If you use online or mobile banking, you may be interested to know six federal regulators teamed up recently to make your accounts more secure. New rules from the Federal Financial Institutions Examination Council (FFIEC) require banks to take extra steps to make sure that the person signing into your account is actually you. The… Read More

The Credit Line: What to Do When Your Mortgage is “Underwater”

Mortgages

The Credit Line: What to Do When Your Mortgage is “Underwater”

The Credit Line: What to Do When Your Mortgage is “Underwater”

Tune in to this week’s installment of The Credit Line, hosted by Credit.com’s chairman and co-founder Adam Levin on Los Angeles’ KFWB 980 AM this Saturday, July 9, at 9 a.m. PST/Noon EST. The show is co-hosted by L.A. radio personality Jeff Levy. Trapped in an Underwater Mortgage?  There is a Way Out. In the… Read More

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