Bush Administration Rolls Out Wimpy Mortgage Assistance Plan
The Bush administration today rolled out a plan to help homeowners in trouble with their mortgages. While proclaiming big help the plan does not go anywhere near far enough to help those in the most trouble.
Homeowners 90 or more days late in their mortgage payments, owe at least 90% of their home’s current value, live [...]
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Some Interesting Ideas To Try To Bribe You To Spend, Spend, Spend
Here are some interesting ideas floated in a recent Washington Post article to encourage consumers to get back to what they are supposed to do best, spend. What do you think about these ideas?
Idea 1
Lower the price of consuming. State governments could suspend sales taxes, with the federal government picking up the tab. The feds, [...]
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Groups seek credit card debt forgiveness
Groups seek credit card debt forgiveness BusinessWeek - 34 minutes ago issue around 80 percent of all US credit cards. Americans now are weighed down by around $900 billion in credit card debt , according to Federal Reserve figures.
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Consumers Feel the Next Crisis: It’s Credit Cards
Indeed it is. If you’re not in top shape for the credit card shakeout that’s already taking place, there isn’t much you’ll be able to do about it. It’s probably already too late. After years of flooding the market with credit cards (and generous limits), banks are finally starting to take it back. Eric Dash, a New York Times reporter, does an excellent job of distilling the situation. From
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81,312 Foreclosures in September. More Than Just a Number.
Well the September foreclosure figures are out from RealtyTrac. And while we can look at the big, really big number and compare it to foreclosures a year ago that does not give a real understanding of the fear and loss experienced by over 81,000 families that month.
Maybe there is some hope headed down the road [...]
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Despite What They Say This Is Not The End Of Subprime Loans
Over and over again through print or on the airwaves it is being said that bankers have learned their lesson from the current economic crisis and credit will no longer be extended to people in the subprime market.
While we hope that banks have learned their lesson that bad things happen when you lend to people [...]
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Jax Is Looking to Refinance And Has Some Questions
Jax wrote to me through the GetOutOfDebt.org site and asked the question below. If you have a get out of debt question you’d like to ask, just visit GetOutOfDebt.org.
“Dear Steve,
I need to refinance my home in Oct of 2009. My credit score is 669. I have a mortgage of $130,000, home equity loan of $34,000, [...]
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Ginger Asks “I Started My Business On Credit Cards But It’s Hard to Make Payments”
Giner wrote in through the GetOutOfDebt.org site and asked for help.
“I started a new business, had a few small credit card balances before, but had to use them, plus acquiring a few more, and with the balance trasfer deals, I now have 8 cards with a total debt of $50,000+. I manage to stay [...]
