Huge Mortgage Debt Means Lean Years Ahead
Plummeting house prices outpace mortgage debt decline
House prices nationwide have been declining for three years and are still falling. According to the most recent S&P/Case-Shiller index, house prices declined a record 19.1% in the first quarter of 2009 compared with the first three months of 2008. According to [...]
Can County Be ‘Disaster Area’ from Man-Made Disaster?
Unnatural disaster strikes
A Florida county that has been particularly hard-hit by the housing crisis is seeking “disaster area” status.
In St. Lucie County, thousands of homes stand vacant or unfinished. A county commissioner believes the crisis has reached disaster proportions. If the county is declared a disaster area, it could receive [...]
Dispute Among Democrats Stalls Mortgage Aid Bill
Measure was expected to pass this week
A scuffle between House Democrats has brought legislation to help debt-strapped homeowners to a halt. The bill would let bankruptcy judges reduce the principal and interest rate on mortgages.
The main point of contention centers on this question: Is it fair to help only those [...]
Banks Halt Foreclosures | No Instant Payday Loans for Mortgages
Don’t grab that payday loan so fast
Homeowners considering getting instant payday loans to cover their mortgage so they don’t get evicted might be able to hold off.
Moratorium on foreclosures
Payday loans are great for keeping your credit in good standing if you use them to make mortgage payments on time. However, [...]
Payday Loans More Popular | Home Prices Continue to Fall
Why you shouldn’t buy a house in 2009
As demand for payday loans continues to rise, demand for houses continues to fall.
Home prices are sinking lower and lower, and for some people that might make the “buy low” part of the old investment adage ring in their heads. However, MarketWatch has [...]
Home Prices Still Falling | No Credit Check Payday Loans
U.S. continues to break records
Homeowners who lost their homes or fell behind on mortgage payments may be comforted to know that no credit check payday loans can help them in times of financial crisis. However, homeowners who are still paying off their houses probably won’t like what I have to [...]
Payday Loans Source: Is Financial Literacy a Good Investment?
So many options, so little information
With options like payday loans, credit cards and all kinds of lending sources out there, some analysts are wondering whether financial advice should be part of the effort to repair the economy.
An economist and columnist for the New York Times, Robert Shiller, points out that Americans [...]
Bailout Money Released | Article by Your Payday Loan Source
Your payday loan source keeps you updated on the nation’s financial news.
Showing the money
On the same day House Democrats unveiled their version of the economic recovery plan, Congress agreed to release the remaining $350 billion slated for bailout money to ease the mortgage crisis.
Thought Barack Obama is not officially president [...]
From Your Payday Loan Source: FHA Needs Help
Your payday loan source keeps you up-to-date on financial news.
History tries to repeat itself
The Federal Housing Authority says it doesn’t have the resources to police predatory lenders. Officials from the Department of Housing and Urban Development say the FHA needs more staff, better technology and added legal authority if it [...]
Mortgage Crisis Far From Over | Article by Your Payday Loan Source
Your payday loan source keeps you up-to-date on the nation’s financial news.
Many on Main Street don’t recover after rescue
After $350 billion was pumped into relieving the mortgage crisis, the majority of homeowners who modified their loans still ended up in default, CNNMoney reported last month.
Federal Reserve Chairman Ben Bernanke
The original [...]
Treasury Blasted for Use of TARP Funds | by Payday Loans Source
While some Americans were taking out small payday loans just to buy groceries, the U.S. government approved a plan to give the Treasury $700 billion to resolve the housing crisis. Now a congressional watchdog panel is saying the Treasury has done nothing to ensure the money was used to stabilize [...]
Recession Has Consumers Seeking Solace In Payday Loans | Is A Great Depression Coming?
Recession Is Here, Alive & Well!
The official news is finally in regarding the recession that the American economy has been enduring.
Experts with the National Bureau of Economic Research said that the U.S. has been in a recession since December 2007.
This may not sound like news to most as many have [...]
Pets at the Pound and Payday Loans
Forced Out
People and pets have been left stranded by the mortgage crisis, but payday loans and loving families can be a solution for people and pets. Animal shelters across the country have seen a significant increase in abandoned pets since the beginning of the mortgage crisis. Foreclosures are forcing people [...]
Payday Loans News Break: Ohio candidates focus on predatory lending
(AP:COLUMBUS, Ohio) Democratic candidates in two high-profile congressional races in Ohio are pointing fingers over the mortgage crisis.
Your Payday Loans News Source Quoted With Edits From: Ohio candidates focus on predatory lending (INO News)
The Blame Game
If you’re a Republican, the country’s problems are no doubt caused by the Democrats. If [...]
Installment Loans News Break: Mortgage bankers meet in SF
Mortgage bankers are discussing the future of their industry.
Your Installment Loans News Source Quoted With Edits From: Mortgage bankers meet in SF (KGO-TV Bay Area)
Repairing the Mortgage Industry
On October 19th, 2008 over two thousand bankers from across the country met at Moscone Center West in San Francisco for a national [...]
Mortgage crisis stops down-payment help, Quick Payday Loans Anyone?
The state agency that provides mortgages to moderate-income families in Ohio will slash its home-loan volume by as much as 75 percent after $150 million in bonds failed to sell on Wall Street this week, the latest domino to fall in the mortgage meltdown.
Your Quick Payday Loans News Source Quoted [...]
Payday Loans: Ohio Likes Them Apples
Jim Siegel of the The Columbus Dispatch apparently likes his apples when it comes to payday loans.
In his October 14 analysis of Ohioans for Financial Freedom’s anti-Issue 5 television advertisement “Washington Mess,” Siegel takes a number of thinly veiled shots at the payday loan industry. If he were on target, [...]
Online Cash Advance News Break: Mortgage system crumbled; regulators jousted
Federal bank regulators fought over turf with state agencies while America’s mortgage lending system grew increasingly unstable and then fell apart.
Your Online Cash Advance Source Quoted With Edits From: Mortgage system crumbled while regulators jousted (Seattle Post-Intelligencer)
The Mortgage Crisis. Who’s To Blame?
Everyone is up in arms and pointing fingers [...]
Payday Loans News Break: Mortgage pact may be worth $3.5 billion to California
Bank of America Corp. agrees to nation’s largest mortgage-workout program to settle charges of lending abuse. An estimated 125,000 Californians who are struggling with risky mortgages from Countrywide Financial Corp. may get their loans modified and payments reduced under a program to be announced today.
Quoted With Edits From: Countrywide mortgage [...]
Payday Loan News Break: Lender settles mortgage lawsuit
Countrywide Financial has agreed to the largest program ever to modify home loans as part of a settlement with officials in 11 states, including California. Countrywide, the nation’s largest lender and loan servicer that was recently acquired by Bank of America, had been sued by the states over what they [...]
Loan Modification
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