Archive for January, 2010

Federal Reserve Calls For More Small Business Loans To Aid Economic Growth

01/28/2010
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Officials from the Federal Reserve say that banks are not giving small businesses enough access to credit nor are they making enough small business loans to help promote job creation and economic growth.  However, there are banks, large financial institutions, that are opening lines of credit to small businesses in the form of small...
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CitiGroup Small Business Loans; Despite Good Numbers In HAMP, Small Business Lending Falls Short

01/28/2010
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An article on small business lending from money.cnn.com says that small business loans are down overall and CitiGroup is shown to be in last place.  CitiGroup is one of the most successful financial institutions in the Making Home Affordable home loan modification program and has come close to making modifications for almost half of...
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Bank of America Loan Modification—Will Second Mortgage Loan Modifications Help Making Home Affordable?

01/28/2010
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Bank of America has taken steps to make more progress with the Making Home Affordable home loan modification program by entering into a new federal program that puts focus on second home liens, which is said to be one of the main reasons that the home loan modification program isn’t working as efficiently as...
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Consolidate Student Loans To Lower Interest Payments And Get Out Of Debt

01/28/2010
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New graduates fresh out of college are falling into a tough job market and economy, but with no way to pay back student loans easily a recent graduate can find themselves in a position where, after their grace period of nonpayment, they are hit with bills and interest rates they can’t pay. With multiple...
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Low Mortgage Rates—Will 30-Year Fixed Rate Mortgage Replace Home Loan Modification Program?

01/28/2010
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With low mortgage rates still available and many homeowners having trouble in the mortgage modification program, will refinancing for a 30-year fixed rate mortgage become the alternative or even better option than the home loan modification program from the federal Making Home Affordable Program? Many homeowners are seeing low mortgage interest rates and finding...
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Homeowners Looking For Low Interest Mortgages— Is A 15-Year Fixed Rate Mortgage A Good Option?

01/27/2010
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Many homeowners are looking for a low interest mortgage with an affordable monthly payment, but don’t need or want the long-term 30-year fixed rate mortgage.  In some cases, homeowners are turning to a 15-year fixed rate mortgage which brings a lower interest rate but is it the right choice for everyone? There is the...
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Repair Bad Credit With A Secured Credit Card—Get A Secured Credit Card With Bad Credit

01/27/2010
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Many people have found their credit to have taken a big hit in the recession and are now left with a low credit score and no way to obtain a loan or credit card to rebuild their credit without a high interest rate.  However, a secured credit card is a viable option for those...
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Mortgage Loan Modification—Will Bank Of America, Wells Fargo, JP Morgan Increase Home Loan Modifications In January 2010?

01/27/2010
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Mortgage loan modifications are, for some homeowners, the only hope they have of keeping their home as unemployment and a slow economy still take its toll.  Big lenders like Bank of America, Wells Fargo, and JP Morgan have the majority of mortgages that homeowners are seeking to modify and while the home loan modification...
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Posted in Banking/Finance, Business, Loan Modification | 4 Comments »

Bank of America Mortgage Modification Program— Second Lien Loan Modification To Help Homeowners, HAMP

01/27/2010
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Bank of America has been criticized for what is believed to be lackluster success in the home loan mortgage modification program through the federal Making Home Affordable Program.  However, new reports show that second mortgages are taking their toll on the program and causing first mortgage lenders, like Bank of America, to be unable...
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Posted in Banking/Finance, Loan Modification | 7 Comments »

Obama Bailout Tax Targets Banks—Will Banks, Businesses or Customers Suffer As A Result?

01/27/2010
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President Obama says that he wants to initiate a bailout tax for those institutions that were given bailout money and he plans to do so with the intent of recouping all money lent to these various businesses and institutions, so Americans will be repaid all the money spent on the bailout. However, many worry...
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