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Big Banks to New Jersey: Stop Bugging Us About Foreclosures

When New Jersey tightened its foreclosure rules in response to the false document crisis, it ordered the six largest servicers to explain why they should be allowed to continue foreclosing on homes. Their response: 'Trust us, everything's fine now.' If you think there's irony in that assertion, read on ...

Florida Is Still Letting Banks Break the Rules in Foreclosure Cases

An affidavit in a court case needs to include the documents that support its claims. Except for banks in Florida foreclosure cases. Despite the massive robo-signing scandal and evidence of errors in mortgage files, judges there still merely take the bank's word about what you owe.

Judge Rejects Wells Fargo Foreclosure Documents Again

U.S. Bankruptcy Court Judge Martin Glenn denied Wells Fargo's request for permission to foreclose on Tandala Mims's house in the Bronx for a second time on Thursday because he still wasn't satisfied that Wells -- as opposed to some other bank -- had the right to do so.

Spain to Sell Stake in State Lottery as Debt Crisis Looms

With the fears of a European sovereign debt crisis growing worse, the Spanish government said Wednesday that it's taking several measures to stop the fiscal contagion from reaching its shores, including selling a 30% stake in its national lottery business, Bloomberg reported.

Mortgage Delinquencies Fall in the Third Quarter

A smaller percentage of mortgage holders were delinquent on their payments in the third quarter than in the second quarter, although the percentage of delinquencies remains up from the same period last year.

More People Repaid Credit Card Debt in October

U.S. credit card delinquencies fell in October to the lowest levels of the year as more people were able to restart payments on their consumer debt, The Wall Street Journal reported, citing company filings.

Recovery Ahead? Small Businesses Boost Borrowing

A key index that measures small business lending rose 16% in September, its second consecutive month of double-digit increases. That rise in the Thomson Reuters/PayNet Small Business Lending Index is a strong signal that the U.S. economy is finally back on the road to recovery.

No Foreclosure Problems at Bank of America?

After a 16-day review of its foreclosures, Bank of America has pronounced itself satisfied. It found no problems at all with any of them, and it's ready to resume processing foreclosures. Let's be blunt: That's a claim so unbelievable it doesn't pass the straight-face test. Here's why ...

Capital One Says Credit Card Defaults Rose Slightly in September

Capital One (COF) said its credit card defaults rose slightly in September, a sign that more people may be struggling to repay their debts. Capital One said its annualized net charge-off rate, a measure of the debts the company does not expect to ever be paid off, was 8.38% in September, Reuters reported. The rate was 8.19% in August.

Europe's Debt Crisis: Here We Go Again?

Europe's shakiest economies managed to ride out a sovereign debt crisis this spring with a lot of help from their more stable neighbors and the major central banks. But with global recovery faltering, the data coming out of Europe suggests we may soon see a replay of the debt default crisis.

Moody's Cuts Portugal's Rating as Debt Soars

Portugal, one of the countries at the heart of the European debt crisis, had its bonds downgraded by Moody's Investors Services Tuesday. The ratings agency warned that the Lisbon government's financial strength will continue to weaken because of heavy indebtedness.

Want a Stronger Recovery? Learn From Europe

After the U.S. spent trillions to prop up reckless banks and spark a recovery, growth and employment are anemic -- while bankers rake in ever-bigger bonuses. Germany's recovery, meanwhile, seems stronger and more durable. And even Greece is in a better situation than the U.S.

Reform Is Coming to For-Profit Education Industry

The for-profit education industry has grown rapidly for the past decade on the backs of the most vulnerable members of society. But now, with the Department of Education on track to clamp down on abuses, and the Senate planning hearings, it looks like the party may be ending.

Now Hungary's Debt Woes Are Rattling Global Markets

Hungary became the latest member the club of countries on the economic brink Friday after its newly elected government said it might default on its debts. Investors battered European stocks and Hungary's currency, the forint, and pushed the euro below $1.20 for the first time in four years.

Three Greek Stocks That Could Snap Back Huge

When fears of the Greek default doomsday scenario abate, the Hellenic stocks that were irrationally pummeled during the panic will rebound - some more than others. Here are three strong buying opportunities for investors willing to take medium risks for large gains.

More Jumbo Mortgages in Trouble as Inventory Builds

With rate resets kicking in on a raft of exotic adjustable-rate loans, delinquencies on jumbo mortgages nearly tripled to 9.2% in December 2009 compared to the 3.2% rate December 2008. Meanwhile, the number of expensive homes on the market continued to rise.

Companies Most Likely to Default in 2010

The number of companies in danger of defaulting on their credit obligations will remain high in 2010 with a disproportionate number coming from the US and more than half concentrated in five key industries, according to a report from Standard & Poor%u2019s.

Hot New Debt Securities

There was a time not long ago when nobody knew what an ETF was. Now, just when you've gotten accustomed to ETFs, you've probably begun hearing a bit of buzz around their cousins, the ETNs: exchange-traded notes. Here's what every investor should know.

Bailout Program Expected to Cost Taxpayers $200B Less

Now that many of the biggest banks have repaid their bailout loans, the Obama administration plans to cut the projected cost of TARP by $200 billion. But one big bank itching to repay Uncle Sam is reportedly facing a major hurdle.

Foreclosures jump to record high

More than 900,000 properties in the third quarter received a foreclosure filing -- which can include a default notice, scheduled auction or bank...