The Little-Known Database That Can Sink Your Mortgage

Mortgages

The Little-Known Database That Can Sink Your Mortgage

The Little-Known Database That Can Sink Your Mortgage

One of the benefits of government-backed home loans is that they tend to have more flexible and forgiving requirements when it comes bankruptcies, foreclosures and other derogatory credit. The wait time for a VA or FHA loan in the wake of one of these events can be considerably shorter than for conventional financing. But that... Read More

Can You Escape Your Debt by Moving Overseas?

Managing Debt

Can You Escape Your Debt by Moving Overseas?

Can You Escape Your Debt by Moving Overseas?

If you’re up to your eyeballs in debt and can’t see a way out, the idea of moving to another country and ditching your debts may be very appealing. Kathleen Peddicord, publisher of “Live and Invest Overseas”, says she’s met many people in that situation over the years. “I meet them in Panama, Ecuador, Belize.... Read More

What to Do When the Loan You Co-Signed Defaults

Managing Debt

What to Do When the Loan You Co-Signed Defaults

What to Do When the Loan You Co-Signed Defaults

Whether you co-signed a student loan for your child, a car lease for your father or a mortgage for a friend, you are now responsible for that debt. Unfortunately, if the borrower is not able or willing to pay back the loan, you must step up or face the consequences. Here are some steps to... Read More

National Default Rate Stable

Managing Debt

National Default Rate Stable

National Default Rate Stable

Consumer credit default rates remain at low, pre-recession levels, according to the S&P/Experian Consumer Credit Default Indices. The indices, released monthly, measure changes in the default rates among credit card accounts, auto loans, and first and second mortgages in five major metro areas. The percentage of loans in default among all those consumer credit products... Read More

Will Defaulting On Season Tickets Hurt My Credit?

Credit Score

Will Defaulting On Season Tickets Hurt My Credit?

Will Defaulting On Season Tickets Hurt My Credit?

We recently received a reader question that was very interesting — something we hadn’t thought of before. This one’s for you sports fans out there: Does anyone know the impact of defaulting on season tickets will have on one’s credit? Will it have an impact on my car insurance, current loans for cars, or anything... Read More

Student Loan Defaults Skyrocket

Students

Student Loan Defaults Skyrocket

Student Loan Defaults Skyrocket

These days, consumers are generally doing a better job managing their credit, but in some instances, high rates of delinquency and default seem to persist. The amount of student loan debt written off as being uncollectable rose to a total of $3 billion in the first two months of the year alone, up more than... Read More

Uptick in Delinquencies on Car Loans, Credit Cards Predicted

Auto Loans

Uptick in Delinquencies on Car Loans, Credit Cards Predicted

Uptick in Delinquencies on Car Loans, Credit Cards Predicted

In the time since the end of the recession, consumers have worked hard to get their finances back in order, and in many cases, they’ve been extremely successful. However, some experts believe that trend may reverse itself next year. Currently, rates of delinquency and default on many types of loans are hovering at or near... Read More

Consumers Fell Behind on Credit Card Payments in November

Credit Cards

Consumers Fell Behind on Credit Card Payments in November

Consumers Fell Behind on Credit Card Payments in November

Borrowers’ credit card habits have changed drastically since the end of the recession, but as they’ve started carrying slightly more debt in recent months, default rates for some of the nation’s top lenders crept upwards in November. Capital One Financial, Discover Financial Services and American Express all saw higher rates of charged off credit card... Read More

Consumers’ Default Rates Climbed Last Month

Managing Debt

Consumers’ Default Rates Climbed Last Month

Consumers’ Default Rates Climbed Last Month

The rate at which consumers fall behind on their various credit accounts ticked upward in October after several months of declines, indicating that borrowers might be struggling a bit more these days. The total default rate across four major types of credit rose slightly last month, to 1.55 percent of all outstanding balances from 1.46... Read More

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