What is the Foreclosure Prevention Act?
May 12, 2008
Homeowners may have heard of the Foreclosure Prevention Act that is being considered in Congress, but may not know what it is. In brief:
Foreclosure Sales Rising
May 7, 2008
It seems as if there has been nothing but bad news in the housing market lately. Perhaps, some good news is coming around. It appears that sales of foreclosed homes are rising.
Credit Score Must Do List
April 15, 2008
If you have not heard the news yet, your credit score is more important now than it has ever been. The reason for this is that most lenders are now trimming back on their lending and imposing higher standards for those that they do lend to.
Credit Score Demands
April 7, 2008
It was not that long ago when consumers with credit scores in the low- to mid-600 range could get a home mortgage with no money down payment. In addition, they only had to state their income and very little investigating was conducted by the lender to verify that information. Times have changed.
Debt Addiction
March 24, 2008
It should come as no surprise that many Americans are simply addicted to being in debt. The national level of debt is higher now than ever before. But not all of this is due to careless spending.
Debt Collector Restrictions
March 21, 2008
As more and more consumers become late in payments, collection actions are increasing. Most bill collectors will obey the rules and work as honest representatives, but there are some who prefer to use strong arm tactics. Consumers should understand that they do not have to put up with that.
VISA IPO May Ease Credit Crunch
March 11, 2008
The proposed VISA IPO (initial pubic offering) may raise as much as $19 billion which some experts suggest may help the overall economy get a much needed jump start. In addition to being welcome news to Wall Street, the IPO may also be able to help loosen up the credit knot currently holding many transactions in limbo.
Reconsider Changing Jobs for Now
March 6, 2008
American consumers who are in any form of debt may want to reconsider their plans if they are thinking of changing jobs. A new study conducted by the New York consulting firm Mercer reveals that employers are being more patient and cautious in new hires.
Early Credit Counseling is Key
February 12, 2008
Consumers who are facing issues with their debt payments should make it a priority to seek credit counseling as soon as possible. Many consumers wait too long before seeking professional advice on the debt. This can lead to many problems that might otherwise have been avoided had assistance been more timely.
Consumer Banking Help Called For
January 10, 2008
There was recent testimony before the U.S. House Subcommittee on Financial Institutions and Consumer Credit by the Consumers Union and Consumer Federation of America, both of which endorsed the Financial Consumer Hotline Act of 2007. This Act would establish a single toll-free bank complaint hotline, as well as other improvements that would make it easier for consumers to voice their banking complaints.