Facing Foreclosure? You Have a Longer Wait.

Mortgages

Facing Foreclosure? You Have a Longer Wait.

Facing Foreclosure? You Have a Longer Wait.

The average homeowner in foreclosure hasn’t made a mortgage payment in 507 days, according to a report published by Lender Processing Services, Inc. That’s a 25% increase from an average of 406 days at the end of 2009. Such long processing times are leading to a huge inventory of houses in some form of delinquency… Read More

Checking in on credit card minimum payments

Credit Cards

Checking in on credit card minimum payments

Checking in on credit card minimum payments

It’s been a month since credit card minimum payments increased across the country. Each credit card company has their own policies, but on average minimums have increased from about 2% of the balance to 4% of the balance each month. Many credit card companies are now using a new formula developed by the Office of the Comptroller of the Currency (OCC) that equals 1% of the balance plus the interest charges and fees. According to MarketWatch:

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