Finance
One in five mortgages underwater
A recent survey indicates that just more than 20 percent of American homeowners are underwater on their home loans. Mortgage loan modification, even if they could get it, would do no good for 1 in 5 homeowners. The number of underwater home loans is slowly decreasing though. That aside, some areas are still in trouble ...
Rate increases on the horizon for FHA mortgages
The Federal Housing Administration is the federal government agency charged with helping guarantee mortgages. The FHA does not directly provide no credit loans for homes, but guarantees loans to certain classes of borrowers. To hedge against the possibility of loans going bad, the FHA is legally required to keep 2 percent reserves – however they ...
Online credit card scam stole millions with just pennies at a time
An online credit card scam that stole millions of dollars, pennies at a time, was halted by the U.S. Federal Trade Commission. The online credit card scam used fake companies and identity theft to steal small amounts of money that went undetected by consumers or fraud detectors. Over the last four years, a lot more ...
New home sales fall to record low in May after tax credit expires
New home sales fell to a record low according to a report by the Commerce Department released June 23. A drop in home sales statistics was expected following the home buyer tax credit expired at the end of April. But the 32.7 percent drop in May was so much more than expected. Existing home sales ...
Student loan repayment affects your ability to get a mortgage
Will student loan repayment get in the way if you would like to purchase a house? Not if your payments are on schedule still. Because they do not understand at present how credit and lending works, many graduates often get themselves into trouble by blowing off student loan payments. They don’t get responsible young individuals. ...
