delinquencies
Many Distressed Homeowners Are Letting Help Pass Them By
11:00AM 8/31/2011
Bank of America, Real Estate, Credit, Banking, Personal Finance
In the last few years, outreach events by banks and nonprofits have been held all over the country, offering help to distressed homeowners. But even when they get personal invitations to these events, the vast majority of people who need mortgage modifications or short sales aren't showing up.
Credit is ever so personal, and ultimately it's your responsibility -- but it's not solely about you. Your state's creditworthiness can impact you too. For that reason, CardRatings.com's recently released rankings of the 10 Best and Worst States for Consumer Credit is worth a look-see.
Fewer Stiffs Using Capital One Plastic as Card Defaults Drop
7:00AM 6/29/2011
Company News, Economy, Investing, JP Morgan Chase, American Express, Bank of America, Citigroup, Credit, Market News, Banking
Capital One's credit card charge-off rate -- the percentage of debt that it's unable to collect -- fell to 4.97% in April. That's the lowest default rate for the company since 2007. See why there might be some upside potential for the stock.
Research shows that what our parents teach us about money lays an important foundation for our future financial fitness, and the anecdotal evidence is just as strong. So if you're a rainy-day saver or a coupon clipper, you probably have mom to thank.
Bank of America credit card holders, beware. If you're late on a monthly payment, that little "oops" might become a big "ouch": Your future balances could be subject to a penalty rate of nearly 30%. But the penalty rate will not be applied to previous balances.
Putting Consumer Debt Into a Bigger Perpsective
10:30AM 2/21/2011
Before the Great Recession, U.S. consumer debt had risen fairly steadily for more than a decade. With the downturn, it finally dropped...until December's small rise. However, a longer look at the trend of ever-rising debt shows that America is still extraordinarily overextended.
Pimco Planning $1 Billion Fund to Buy Past-Due Debt
7:06AM 11/19/2010
Pacific Investment Management Co., the manager of the world's largest bond fund, plans to launch a fund worth at least $1 billion to buy distressed loans from banks.
The fund will buy up past-due debt including commercial and residential mortgage loans, Bloomberg News said without naming its...
Mortgage Modifications Slip in July as Home Prices Level Off
12:54PM 8/20/2010
Fewer Americans received home-loan modifications under the Obama administration's program to reduce foreclosures and delinquencies. More owners with modifications flunked out.
Report Forecasts Over 1 Million Foreclosures in 2010
7:17AM 7/15/2010
Company News, Economy, Fannie Mae, Bank of America, Citigroup, Wells Fargo & Co, Real Estate, Freddie Mac, Credit, Simon Property Group
Over 1 million households could lose their homes to foreclosure this year as mortgage lenders process a massive backlog of delinquent loans.
Nearly 528,000 homes were taken by lenders in the first half of this year, according to a new report by RealtyTrac Inc., a foreclosure listing service. Last...
Bankers not as optimistic about the economy as Obama
9:30AM 2/03/2010
Although the President claimed in his State of the Union address that the worst of the economic storm has passed us by, he apparently didn't consult with bankers who answered the January survey of senior loan officers conducted by the Federal Reserve.
Had Mr. Obama done so, he'd have found out...
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