New Law Would Increase Mortgage Down Payment Requirements

Mortgages

New Law Would Increase Mortgage Down Payment Requirements

New Law Would Increase Mortgage Down Payment Requirements

House Republicans recently discussed – but have not yet introduced – a bill that would push the required down payment for an FHA-backed mortgage to 5 percent, up from the current rate of 3.5 percent, according to a report from Fox News. The proposed change, which drew fire at a House Financial Services subcommittee hearing,… Read More

“Reckless Endangerment” Examines Who Burst the Bubble

Personal Finance

“Reckless Endangerment” Examines Who Burst the Bubble

“Reckless Endangerment” Examines Who Burst the Bubble

If the housing boom was a drug epidemic, investors were like crack addicts, driven by the need for more and more profit. Mortgage brokers were the street dealers, doing the dirty work to get the deals done. And Wall Street was the drug cartel. Investment firms including Goldman Sachs, Merrill Lynch and Lehman Brothers controlled… Read More

Banks Now Look to Prepaid Cards for Revenues

Credit Cards

Banks Now Look to Prepaid Cards for Revenues

Banks Now Look to Prepaid Cards for Revenues

Banks have begun issuing more prepaid cards to increase revenues lost to laws such as the Credit Card Accountability, Responsibility and Disclosure Act and the Dodd-Frank Consumer Protection Act, and these accounts have been adopted quickly by many groups, according to a report from Bloomberg Businessweek. In particular, prepaid cards have become popular with state… Read More

Credit Card Profits Rose Despite Federal Regulations

Credit Cards

Credit Card Profits Rose Despite Federal Regulations

Credit Card Profits Rose Despite Federal Regulations

The credit card industry experienced a sizeable increase in net pre-tax profits in 2010, rising to 18.5 billion, up from the previous year’s $13.6 billion, according to a report from the industry analyst firm R.K. Hammer. This increase in profits came despite the predicted and much-heralded declines in revenues. [Featured Tool: Get your free Credit Report… Read More

Hackers Target Small Businesses: Verizon Report

Identity Theft

Hackers Target Small Businesses: Verizon Report

Hackers Target Small Businesses: Verizon Report

By Brian McGinley, Identity Theft 911 Small businesses take note: Verizon recently just released its 2011 data breach report, and the findings have real implications for companies with fewer than 100 employees. The number of stolen records dropped dramatically to 4 million in 2010, down from 144 million in 2009. But the tally of confirmed… Read More

Making a Memorial Day Gift? Don’t Get Conned

Personal Finance

Making a Memorial Day Gift? Don’t Get Conned

Making a Memorial Day Gift? Don’t Get Conned

This Memorial Day, you may be moved to donate money to a charity that helps veterans and active-duty soldiers. There are plenty of good groups that need your help, including the Fisher House Foundation, which operates like a Ronald McDonald House for soldiers, providing housing to wounded veterans and their families as they receive medical… Read More

Financial News Roundup: Some States More “Stressed” Than Others, Banks Settle Military Foreclosure Lawsuit

Personal Finance

Financial News Roundup: Some States More “Stressed” Than Others, Banks Settle Military Foreclosure Lawsuit

Financial News Roundup: Some States More “Stressed” Than Others, Banks Settle Military Foreclosure Lawsuit

Today’s top news headlines feature the settlement details reached between banks and military families in a far-reaching foreclosure case as well as reasons many ill Americans are missing out on new healthcare provisions. Plus, find out which states are the least stressed. Americans Fail To Take Advantage Of Pre-Existing Healthcare Insurance The Huffington Post Under… Read More

Follow Friday: Weekly Web Roundup (5/27/11)

Personal Finance

Follow Friday: Weekly Web Roundup (5/27/11)

Follow Friday: Weekly Web Roundup (5/27/11)

We’re on the verge of new payment technology that could make our lives a lot easier. Unfortunately, we may be paying for these convinces with the risk of identity theft. We’ve also included a credit card best practices post that offers great tips for healthy credit use. And we can’t leave out the graduating class… Read More

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