Financial
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Home Mortgage Loans Available For Everyone

Good timing Whether you are looking to secure a new home mortgage or refinance an existing mortgage loan, there may not be a better time than right now. Interest rates are at historic lows, and demands for a new mortgage loans are at new highs. While the economy is in recovery and new home sales
First Republic Bank

First Republic Bank Goes Independent

Bank of America agrees to sell Bank of America says it will sell First Republic Bank, but BofA assures the public that the purpose of the sale is not to meet the government’s capital requirements. The San Francisco Chronicle reports that in May the government ordered Bank of America to raise $34 billion after it
Coins

Futures Trading and SEC fighting Congress for funding

The Commodity Futures Trading Commission and Securities and Exchange Commission are supposed to be the financial police officers of the economy. The 2010 Dodd-Frank Act was meant to increase the power of these agencies to protect consumers and keep an eye on Wall Street. The funding to carry out these tasks, however, is caught in
Bank of America

Bank profits tumble as new laws for credit cards start working

New regulations for credit cards on how interest rates and fees can be assessed are working. However, some loan lenders are lamenting the new rules that require greater disclosure when changing terms with customers. Outlawing guerrilla-style fee and interest raises has led Bank of America and other companies to lose value from credit card units.
gas prices

Oil and gas destined to fall as prices pinch consumer demand

Oil prices are soaring, and gas prices are approaching levels not seen since the summer of 2008. The U.S. has huge oil and gasoline stockpiles, but speculators betting on risk and fear have pushed oil prices up 21 percent in 2011. Some analysts think the oil rally is about to end, however, as rising oil
Federal Reserve Vice Chair Janet Yellen

Federal Reserve not planning to reign in credit supply yet

The Federal Reserve has announced that it won’t be tightening the national credit supply just yet. The Federal Reserve has certain controls over the amount of available lending capital in the financial system. Fears of inflation have caused some to think the credit supply needs to be tightened, but the Fed does not think that
Bank owned

Reverse Mortgages 101 | Reverse mortgages and how they work

Most people have seen the commercials pushing reverse mortgages as the path to financial security. Reverse mortgages and how they work can be a bit confusing. Reverse mortgages are a way of selling a home back to the bank over time — but the terms can be a bit confusing. Reverse mortgages and how they
Fingers crossed

Credit cards may be worse for your credit score than you think

One of the rationales behind using credit cards, or at least using them on a semi-regular basis, is that if you use them occasionally and pay the balance immediately, it boosts your credit score. That may be partially true, but it may not actually be that simple. There are ways, in fact, that credit cards
Gov. John Lynch

New Hampshire governor vetoes title loan bill

New Hampshire Gov. John Lynch vetoed a bill Wednesday that would raise the ceiling title loan lenders can charge. The bill would have allowed up to 25 percent interest charged monthly. The state joins 31 others in disallowing these kinds of loans. Short term loans secured by vehicle titles Title loans are short term loans
Payday loans

Texas lawmakers propose SB 253 and HB 410 to limit payday loans

In Texas, there are more than 3,500 payday lenders. Two new pieces of legislation — Texas SB 253 and Texas HB 410 — have been introduced as a way to limit this short-term lending. Both of these bills seek to redefine “Credit Service Organization” to exclude payday loan stores. The Credit Service Organization exemption Texas

Savings Bonds: Are They the Best for Children’s Futures?

How savings bonds work U.S. Savings Bonds come in a number of types and denominations from $25 to $10,000. Traditionally, bonds were purchased at half their face value and accumulated interest until a maturity date that would make them worth their face value or more. For example, a $50 bond could be purchased for $25
A montage of finance and retirement-related terms is pictured. With the blizzard of choices out there for finding unclaimed money, PBGC.gov makes it easy for retirees to collect forgotten pensions.

PBGC.gov is protecting pensions across the United States

During a recession, websites like PBGC.gov are priceless, particularly for experienced workers and retirees. Leave it to “The Early Show” to clue America in to how to find lost, missing or otherwise unclaimed money. The show recently pointed out to viewers that there is $33 billion in missing money out there, and sites like MissingMoney.com
Penny coins

Debt relief and consolidation scams still rampant post-recession

Over the past few years, some may have noticed a greater number of advertisements and other media relating to debt relief or debt settlement companies. Though many of these companies are legit, there are a number that are scams. Despite increased regulations, there are still a lot of fraudulent debt relief companies out there. Crooks

Consumers Tired of Credit Decide to Use Cash

Cash only money management William Hazelgrove of St. Charles, Ill., is tired of mortgage loans, auto loans, unsecured loans and debt. He’s not alone in his sentiment toward credit and debt, but unlike other consumers, he is doing something about it. In the past Hazelgrove and his family dealt with credit much like most people
Wedding rings

Unmarried couples face different standards in finance

Unmarried couples are becoming more common, as fewer heterosexual couples elect to become married and same sex couples aren’t allowed in many areas. Moral arguments aside, a relationship that avoids convention also has some different financial risk built into it. There are also some benefits to it as well.   Omitted or denial of vows
Assorted vitamins

TV pitchman Don Lapre indicted for fraud on 41 charges

Well-known TV pitchman Don Lapre, who bills himself as “the king of infomercials,” has been indicted in Phoenix, Ariz. Federal prosecutors have charged Lapre with 41 counts, including conspiracy, mail fraud, wire fraud, promotional money laundering and transactional money laundering. As seen on TV Lapre, 47, was often seen on television infomercials between 2004 and

Your Credit | Establish, Protect and Improve

We all know that we need good credit. You need it to get a house or a new car; some companies even do credit checks before hiring. What is credit, though? How do you get it and keep it in good standing? Credit is essentially borrowing money from a lender, with an outlined payback plan