Michigan drivers have one more reason to try and go green—the Michigan Supreme court has ruled that the price of car insurance premiums can now be based on a person’s credit score, and the worse the score, the higher the premium. This is unfortunate for many people who may have made a bad decision in [...]
Freddie Mac began surveying the rates of 30-year fixed-rate mortgages in 1971. The survey found that this week has posted the lowest rate since its beginning, with 30-year fixed-rate mortgages now at 4.36 percent, compared to 4.42 percent the previous week and 5.14 percent from last year.
This decline in mortgage rates, along with the declines [...]
A new bill is on the table to protect homeowners that take advantage of mortgage loan modification from having their credit scores trashed.
Mortgage loan modification has been touted by financial institutions and the Obama administration as a way for homeowners to save their homes in times of financial difficulties, but those that take advantage of [...]
Researches from the San Francisco Federal Reserve Bank are saying that there is a “significant chance” that the American economy will slide into another recession sometime in the next two years.
Many are concerned that the US could be headed for a “double-dip” recession, as many consumers are now wary of spending money [...]
Another drop in the United States unemployment rate could be coming. In fact, many economists feel that the probability of this is higher than was previously predicted. In May, the unemployment rate was at 9.7%. This dropped to 9.5% in June. Robert Shiller, an economics professor at Yale University said that there is a greater [...]
Housing prices are falling at the moment, despite the fact that many guides may not yet reflect this. There were declines in home values throughout May and June, but these have not yet been shown in price measurements.
Data from Campbell Surveys reveals that prices for short sales fell 6.3%, foreclosures ready for move-in fell 6.8%, [...]
The goals that were set by the Obama Administration to help homeowners use mortgage modification to avoid foreclosure have not been met. Congress offered an assessment of the program, and said that the Treasury Department did not clarify what the program’s objectives should be.
Elizabeth Warren, the chairwoman of the Congressional Oversight Panel, noted that the [...]
The American public has an average credit score that is falling lower and lower. This means that more Americans will have problems getting loans for cars and mortgages, or applying for new credit cards.
FICO Inc. has released statistics that reveal that one-fourth of the 170 million Americans with active credit have scores that are lower [...]
A conference will be held by the Obama Administration on Aug. 17 to discuss the future of Fannie Mae and Freddie Mac, the mortgage companies responsible for nearly half of all US mortgages. The administration has received harsh criticism for not developing a particular plan for these two companies, and will attempt to revolutionize the [...]
For those waiting for unemployment benefit checks to come through, the wait seems to be getting longer and longer. Depending upon the state of residence, a person eligible for unemployment may have to wait anywhere from a few days to a few weeks to begin seeing their checks arrive. For those people that receive their [...]
