Archive for January, 2010

Struggling FHA Mortgages Get Assistance; Homeowners Given Aid Before They Become Delinquent

01/27/2010
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According to a report on cnnmoney.com, the Federal Housing Administration is looking to help homeowners who are struggling with their mortgage payments and are in danger of falling into delinquency. Homeowners who are having financial troubles due to unemployment, a loss of wages or hours at their job, or even a loss in personal...
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Posted in Banking/Finance, Loan Modification | Comments Off

Will CitiGroup Open Lending For Credit Cards and Small Business Loans Despite Fourth Quarter Loss In 2009?

01/27/2010
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CitiGroup has seen their stock fall over the last year as they were hit hard by the recession and many are wondering if they will recover.  While there are arguments both for and against CitiGroup’s recovery, there is speculation if they will open their lending and continue to offer credit cards and offer small...
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Posted in Banking/Finance, Business | 14 Comments »

Extended Unemployment May Bring Defaults For Homeowners, Redefaults For Mortgage Modification Program

01/27/2010
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With unemployment rising and no new information on unemployment benefits extensions, unemployment numbers could be extended throughout the year which, even with an unemployment benefits extension, may cause defaults on mortgages from homeowners who have escaped the financial strains of the economy and redefaults from those involved in the home loan modification program. Unemployment...
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Posted in Unemployment | 1 Comment »

Unemployment Solutions A Must Before Foreclosures Can Be Avoided And Modification Program Succeeds

01/26/2010
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Unemployment solutions are on the agenda for President Obama as he begins to talk more frequently about job creation to not only get the economy going again, but also get Americans back on their feet financially and save homeowners from foreclosure.  The Making Home Affordable Program has helped some homeowners, but there have been...
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Posted in Loan Modification | 2 Comments »

Small Business Unemployment Solutions; Can Secured Loans Help Small Businesses?

01/26/2010
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Small businesses are said to be a huge asset in the fight against unemployment, but there is a need for lending to open up before small businesses can truly pick up speed in their operations.  Some have suggested that secured loans may be the solution for small businesses since lenders seem to be tight...
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Posted in Business, Unemployment | Comments Off

Bank of America Posts Loss—Will Bank Of America Lend More And Offer Credit Cards In Hope Of Profits?

01/26/2010
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Bank Of America is one of the largest banks in our nation but even their size didn’t make them immune to the recession that brought many in both the public and private sector low.  Bank of America posted a loss for the final quarter of last year and cites bad loans and credit cards...
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Posted in Banking/Finance, Business | 1 Comment »

Refinancing For 30-Year Fixed Mortgage Below 5% Or Home Loan Mortgage Modification—Which Is Best For You?

01/26/2010
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Many homeowners who are struggling with their mortgage payments are turning to the home loan mortgage modification program, while others are looking into refinancing for a 30-year fixed rate while interest rates are below 5%.  However, some analysts believe that both aren’t viable options for everyone and homeowners should take care with which road...
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Posted in Loan Modification | 1 Comment »

Obama Mortgage Modification Program Still Available, Lenders See Increase In HAMP Numbers

01/26/2010
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Despite what many consider to be lackluster results, the Obama Home Affordable Modification Program is still in the works and many lenders have seen their numbers increase in the last two months of 2009. The mortgage modification program is allowing homeowners who have seen cuts in their income and had subsequent difficulties in paying...
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Posted in Loan Modification | Comments Off

JP Morgan Chase Small Business Loans—Get A Small Business Loan, Create Jobs, Expand Business

01/26/2010
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Lenders like JP Morgan Chase who make small business loans are going to have to up their lending in 2010 if unemployment is to be reversed, but many see more lending as a gamble that may cause more harm than good. Big banks like JP Morgan Chase all had trouble collecting on loans last...
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Posted in Business, Unemployment | Comments Off

After Reported Losses, Will CitiGroup and CEO Vikrim Pandit Make Gains And Improvements In 2010?

01/26/2010
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An article from nytimes.com asked the question: Does CitiGroup CEO Vikrim Pandit have enough time to turn the bank around before changes are made?  Essentially, many are wondering if CitiGroup will keep Mr. Pandit if he can’t return CitiGroup to its once profitable ways. While many believe CitiGroup suffered more that most other lending...
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Posted in Business | 4 Comments »