Multiple loan companies were found to have engaged in illegal acts surrounding student loans and mortgages, the U.S. Consumer Financial Protection Bureau announced on Tuesday.
According to MSNBC, "The CFPB found that some student loan servicers inflated minimum payments due, made illegal debt collection calls or charged unlawful late ...
Ben S. Bernanke, former chairman of the Federal Reserve, revealed that attempting to refinance a home loan continues to be so difficult in the current market that even he got turned down from a refi request recently.
"I recently tried to refinance my mortgage and I was unsuccessful in doing so," he said. "I'm not making that up."
In fact, ...
In recent months, it has become cheaper and easier for individuals to take out jumbo mortgages – loans of $417,000 or more (or $625,000-plus in more expensive markets).
Whereas a 20% down payment and a 700 credit score used to be required on all jumbo loans, some lenders are now accepting credit scores as low as 650 and just 10% down, ...
In the most recent Mortgage Lender Sentiment Survey conducted by Fannie Mae, the lending company found that attitudes are changing in the areas of credit standards and mortgage demand.
According to Mortgage News Daily, large lenders are set to ease up on their credit standards for mortgages, while organizations of all sizes expect to see ...
Although the new FICO credit model, FICO 9, has been met with much optimism, it is unlikely that it will be used any time in the immediate future.
The new model could boost individuals' scores by as many as 25 points by essentially ignoring paid collections and paying little attention to paid and unpaid medical debt.
While realtors love ...
"I have plenty of experience going into debt. I've spent over half my life paying down a mortgage. I've taken out more than one home equity loan and have made more than my share of car payments. Have I ever been debt-free? Yes, for the first 18 years of my life. But now that I'm approaching retirement, I am nearing that state of equanim...
"It's a good time to think about the ins and outs of buying a house. One factor that can have a big ripple effect on your ability to qualify for a mortgage is your credit card habits.
Not sure how plastic plays a role in your homeownership plans? Let's dig into the details..."
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Image by Sprinno via Wikimedia ...
As time goes by, more and more credit cards are receiving new microchip technology.
The purpose of this technology is to generate new information for each purchase so that predators cannot reuse the information.
It sounds good in theory, however many believe that this only raises the cost for identity thieves, and does not protect ...
When getting a mortgage, credit can be a major concern, and there are a few key factors that could make or break your mortgage.
While in approval stages, there are red flags that could have an impact on your mortgage.
For instance, if your mortgage is in its final stages, it is not a good idea to apply for other credit, dispute a credit...
The Senate Republicans have blocked legislation toward student loan forgiveness.
The legislation would have allowed students to refinance their loans at lower rates to give them some debt relief.
There was a 56-30 vote on the legislation.
Image by Tulane Public Relations via Wikimedia Commons.
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