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3 Top Tips To Stay Out Of Debt

March 31, 2010

You’ve done your credit card debt consolidation. Your new credit card debt consolidation loan gives you peace of mind with a fixed rate and a fixed term. You know your debt will be paid in full on a certain date if you make all your payments as agreed. You are saving money in interest. Congratulations! [...]

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Debt Relief By Installment

March 24, 2010

According to the most recent Federal Reserve Statistical Release (FRB: G.19), “Consumer credit increased at an annual rate of 2 1/2 percent in January 2010. Revolving credit decreased at an annual rate of 2 1/4 percent, and non-revolving credit increased at an annual rate of 5 percent.”
What Is Revolving Debt?
Revolving debt typically has an adjustable [...]

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Fannie Mae and Freddie Mac: Here Today, Gone Tomorrow?

March 21, 2010

Fannie Mae and Freddie Mac supply the majority of funding for US mortgage loans, and their underwriting and lending standards provide a blueprint for mortgage lenders across America. Democratic Representative Barney Frank, Chair of the House Financial Services Committee, cites the “hybrid” nature of the two mortgage finance corporations as problematic. Although federally chartered, [...]

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Top Three Ways To Get Out Of Debt

March 18, 2010

#1 Stop Using Credit Cards
By cutting up the credit cards and spending only your income, your credit card balances will go down month by month. Make a budget and stick to it. Be disciplined to stay within your budget and don’t rely on credit to maintain your lifestyle when your pay check is gone. If [...]

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Mortgage Rates: Fed Plans to Hold Rates Steady

March 16, 2010

The Federal Reserve repeated its commitment to maintaining low interest rates and easing high unemployment rates, a move designed to bolster sagging economic conditions. Although not specifically addressed, the Fed’s plan for ceasing its purchase of mortgage backed securities (MBS) is believed to be off the table for now. If the Fed continues to purchase [...]

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End Debt, Start Saving Money

March 10, 2010

If you are interested in saving more money every month, getting out of debt is absolutely necessary. You want your money to be earning interest if possible. Paying interest on an appreciating asset that has a tax benefit, such as a home loan, can make sense. But paying 20% or more in interest on a [...]

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Higher Demand for Mortgage Loans: a Potential Housing Recovery?

Increased demand for purchase money mortgage loans may offer hope for the US housing market, but critics cite ongoing foreclosures and homes worth less than mortgage loans against them as stumbling blocks to a full recovery.
Seasonally adjusted figures reported by the Mortgage Bankers Association (MBA) indicate that applications for mortgage loans for home purchases increased [...]

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MBA Index: US Mortgage Apps Up 15%

March 3, 2010

The Mortgage Bankers Association (MBA) reports that US mortgage applications have risen 15% after reaching their lowest levels in 12 years during the previous week.
This news is particularly encouraging as several factors are conflicting with a rapid recovery of US housing markets:
The Fed is ending its program of buying mortgage debt to keep mortgage [...]

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3 Reasons To Eliminate Debt

Wouldn’t it be great if by the end of 2010 you were debt free? If that is your goal, take steps today to make it a reality by the end of the year. If you have too much debt to tackle in one year, you can do a two or three year plan. Whatever your [...]

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