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Common ‘Zero-Percent’ Credit Card Mistakes Every Consumer Should Avoid

August 23, 2009

What’s The Catch With Zero Percent Credit Cards?
First of all, all zero percent credit cards are only temporary. Borrowers new to credit card debt consolidation should not mistakenly assume there is a zero-percent ’safe haven’ waiting for them around the corner. Depending on your financial history and the type of creditor, zero percent credit card [...]

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Mortgage Defaults Rise as Home Values Fall

Bloomberg reports that US mortgage defaults reached record rates during the second quarter of 2009. Continued concerns about unemployment are keeping would-be homeowners on the sidelines even as home prices fall in many areas. The Mortgage Bankers Association notes that although problems with sub-prime mortgages are declining, homeowners with prime fixed rate mortgage loans are [...]

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Getting Mortgage Relief: The Squeaky Wheel…

August 18, 2009

Strapped homeowners are having problems getting home loans with high mortgage rates approved for modifications. In spite of government refinance mortgage programs and mortgage modification options, homeowners are not gaining the full benefit of government and lender foreclosure avoidance programs. Although programs are theoretically widely available to homeowners, many report that they are placed on long waiting lists [...]

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Consumers Reduce Credit Debt Once Again In June

August 16, 2009

Consumer Credit Decreases by 4.9% and $10.3 Billion
In response to higher unemployment rates and tightened credit, consumers seem to be focus on rebuilding their savings for the fifth consecutive month in 2009.  Earlier this month, the Federal Reserve released data showing a seasonally adjusted annual rate drop of 4.9% in consumer credit–a drop that surpassed [...]

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High Home Loan Rates: Mortgage Apps Drop

August 12, 2009

Faced with the highest mortgage refinance rates since June, homeowners are reluctant to refinance at today’s current mortgage rates. Reuters reports that consumer interest in new home loans remains sluggish, which isn’t a good indication for the struggling housing market. Homeowners and homburgs share concerns about employment and tighter credit standards. A FICO credit score of 750 [...]

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Are You Funding The $38.5 Billion Going Towards Lender Overdraft Fees?

August 10, 2009

Only 10% Of Consumers Are Paying 90% Of The Record Fees–Are You One Of Them?
Credit card debt reform may have been in the spotlight just a few months ago, but consumers need to be just as aware of their traditional bank accounts. Lenders and banks can charge overdraft fees when you write a check, use [...]

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Mortgage Help: US Treasury Finds Mortgage Servicers’ Efforts ‘Uneven’

August 4, 2009

The US Treasury Department reports that mortgage servicers have modified only about 9 percent of eligible home loans. The Treasury Department characterizes progress on completing modifications as “uneven,” although it states that servicers are still on track to modify 4 million at risk mortgage loans in the next three years. Only 235,247 modifications have been approved [...]

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FTC Targets Misleading Debt Relief Companies In Its Sights

Rising Number Of Complaints Against Debt Relief Companies
After numerous complaints continue to pour in, the Federal Trade Commission has finally proposed a series of changes that would bring stricter regulation on many debt relief companies.  It’s been a topic of discussion many times before, but many consumers continue to become victims of these debt relief [...]

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