The TARP gets a makeover

Remember that whole thing about buying up billions of dollars in crummy assets and securities to shore up the banking system? ... the government's $700 billion bailout program to include credit card, student loan and car loan companies ... of the bailout fund that remains uncommitted. Much of the first half was used for direct capital investments [more...]

Date: 2008-11-12 17:12:00

Blog posts (120) | Videos (245)
 

Feeling Powerless

Yesterday morning I found out that my bank has decided that the paycheck I deposited last week is non-negotiable. This is after I've already used the funds to pay the rent, the credit card bill, the car loan, and my school loan. No one at the bank can tell me why the check was not negotiable because apparently [more...]

Date: 2008-10-09 21:56:00

The credit crunch (by Russell Roberts)

Alex (and others) have been debating whether there's a credit crunch. They are using data and anecdotes to measure whether credit is flowing or not ... not "frozen" or "locked up." It's just a lot smaller. Another way to say it. If you have good credit, I think you can get a car loan. But a lot fewer people (with both good and bad credit) want to buy [more...]

Date: 2008-11-14 20:00:14

Debt Payoff Refinance - Mortgage Rate and Tip For 1-7-09

Real Mortgage Rate and Tip For Today One min. Podcast Ask Terri A Question - Click Here! ... % in yield spread premium. A debt payoff refinance uses the equity in your home to pay off debt like credit cards or car loans. You can’t use all of your equity. There has to still be 10% equity left [more...]

Date: 2009-01-07 16:31:45

What's so important about a Credit Report??

Lots, I tell you.Your credit report is a tool that lenders use to determine whether or not to approve your mortgage, car loan, credit card, ... guidelines on their approval process that include a minimum credit score required for approval.The banks [more...]

Date: 2007-03-02 02:12:00

Why Consumer Debt Is Hazardous to Your Financial Health

You don’t have to look far to find a financial expert who will tell you that consumer debt is bad ... . But has anyone ever really explained what the problem with consumer debt like credit cards and car loans is? On the surface, consumer debt doesn’t seem so awful. After all, using these types of credit lines [more...]

Date: 2009-01-04 13:49:19

Thank You, Poor People

I was talking to someone yesterday and I realized I've never properly thanked you for all the little things you do to make my life easier and ... and they send me all kinds of pre-approved offers with low, fixed interest rates. I love it. I used to love it more, when I could deduct my credit card and car loan interest, but I guess we all have to [more...]

Date: 2008-08-25 21:48:51

Know more about the average credit score

If you’re wondering how you compare with the national average credit score, then you don’t have to wonder anymore ... to maximizing your financial potential. Whether you’re applying for housing loan, buying a new car ... history); 10% (concerns the types of credit used whether revolving, installment or consumer finance [more...]

Date: 2008-12-26 06:25:32

Discover Here Necessary Knowledge - Refinancing Auto Loan

Refinancing your auto loan will reduce your monthly car payment. This will allow you to use some extra money to pay off other bills. For example your credit cards or payday loans. Anyway, you may ask yourself is there any way I can get the cheapest auto refinance loan possible? Of course there are some and if you follow [more...]

Date: 2008-11-14 13:27:30

"Bad Bank?" Bad Idea.

SCENARIO 1: I tell my son that if he washes the car, he can use it on the weekend. Will he be more or less likely to wash the car? ... , Banks made insane loans to non-credit-worthy people, lied about asssessed valuations, and engaged ... in the financial industry played the game, and many got caught with an awful lot of bad loans. Geithner's [more...]

Date: 2009-01-23 19:49:00

The Patient is Dead Part II

Previously, here, we broke down what was a tad wobbly with The Glorious Free-Market System in the US pre-2004 ... of your credit worthiness that a lending institution uses to determine if you get the car loan ... , offering you a starting salary of SFA as a drone so you could pay off your student loans by 2020 [more...]

Date: 2009-02-28 15:56:41

Iz R Korprations Lerning? - by: matt

Mich. lawmakers want gov’t to help auto financing AP (10/22/08) ... Henry Paulson to use their regulatory powers to loosen up credit to help finance car loans. … ... of the financial sector to restore liquidity in the U.S. auto industry. Right, because loose credit [more...]

Date: 2008-10-22 22:30:58

Who Will Fix The Economy?

Okay, so we went and built way too many houses and we sold them for way too much to people who don’t make enough money using loan arrangements that ... t car companies be throwing outrageous bargains at us?  0% financing AND $15,000 off the sticker price ... of other parts of the economy. So what? Fine, we did the same thing with credit cards and credit [more...]

Date: 2008-11-11 19:53:48

Tips To Help You On What To Do With Your Credit Information

improving credit scores Your credit information may be of no use to you. If you’re not planning on buying a house or renting an apartment, buying a car, taking out a loan, paying for college or getting a new credit card, then you won’t need to worry about getting [more...]

Date: 2008-11-14 03:19:35

Why You Should Get Out of Debt

This world is backwards. Everyone loves to talk about using OPM (other people’s money) to purchase things or to gain wealth. I just don’t get it ... that rather than always having a car payment, I wanted to never take out a loan on a car again. Sure ... was just a way of life. I accepted the fact that I would always have a car payment. Everyone has credit [more...]

Date: 2008-08-19 20:21:37

Consolidate Your Debts

I had to take out an unsecured loan to pay the fine I never should have received, ... is to refinance the loan a few months into it, which should improve my credit score enough for me to qualify for a traditional loan. Of course, having sold my car, I do not know what I can use for collateral [more...]

Date: 2008-09-21 14:05:00

Asinine item of the day - Jan 12, 2009

Illegal Alien requests $787,000.00 loan with stolen I.D. Says police should be arresting real criminals, not a good family man PHOENIX (KPHO CBS 5) ... to purchase a car. The credit union contacted the victim and discovered the identity theft, Scerbo said ... Betanicio Guerrero, 37, used the victim's Social Security number to purchase two cars on credit an [more...]

Date: 2009-01-13 03:01:00

Personal Loans With Bad Credit

by Krissy Mangum Sometimes things are tough and the ceiling feels like it is caving in on you ... your car loan and anything owed to gambling debts. Be honest with your self and pay attention ... interest rate fee. If you end up using one then make sure you pay off the loan as fast [more...]

Date: 2009-03-03 08:52:29

Paid Off $11,500 of Credit Card Debt Today

Copyright © 2006-2009 Clever Dude. All Rights Reserved. Ok, it sounds bigger than it is ... on and have removed the maximum fees on all their transfers. Other than using a transfer to pay off our car loan ... minute phone call and a couple internet transactions wasn’t bad. Oddly, the transfer wasn’t due [more...]

Date: 2009-02-19 07:19:33

How to Manage Your Money More Effectively

loan In light of today’s global financial crisis, managing your money effectively has become more important than ever before ... expenses – mortgage payment, loan payments, credit card payments, food expenses, heating costs, vehicle ... a week. Take a lunch to work with you rather than going to a cafe. Use public transportation or car [more...]

Date: 2009-01-23 07:00:46

7 FAQ's On Buying a Used Car at Linnehan's - Maine's #1 Used Vehicle Dealer

QUESTION: "I've had a (Bankruptcy/Repossession/Divorce/Bad Credit). Can I still get approved? ... in financing to people who need a second chance or first time buyers just starting out. QUESTION ... that the more down payment you can put towards the loan, the stronger the approval will be, and also [more...]

Date: 2008-11-19 17:06:06

Why its hard to get a mortgage from the big banks now

In case you don’t follow me on Twitter ( @mejoe ), I’ve been having a lot of problems financing a house–with good credit and cash on hand, ... of credit from commercial banks to fund the loans which we then sell. According to the MBA (Mortgage ... should have a talk with Crazy Dave’s Used Car Lot down the street. [more...]

Date: 2009-03-01 07:03:56

an open apology...to ducky

I once had a car called Ducky, named after the smallish, green lizard-like creature on Land Before Time . ( ... a loan that must be signed off by a credit union, and your father , can be done "on a whim." At any rate, one day I drove off the used-car lot in it because somehow, somewhere along the line I'd [more...]

Date: 2009-02-28 00:04:00

Recent Bankruptcy? Its Not Impossible to Obtain a Home Loan

Because the new bankruptcy laws go into effect on October 17, 2005, more Americans than ever are filing for relief using the federal bankruptcy laws ... $4,000 per month, spends $1,000 on rent,$250 on car payments, and $2,000 on credit card minimum ... . He reaffirms his auto loan and still rents for $1,000/month. However, now his monthly debt is much [more...]

Date: 2008-09-28 02:00:00

The Lending Lunacy Continues as GMAC Gives Out More Bad Loans

This past week the Treasury used $5 billion of funds from the Troubled Asset Relief Program ((TARP)) to purchase senior preferred equity in GMAC, the financing arm of General Motors (GM). GMAC reacted immediately to deploy the funds by lending to new car buyers with credit scores as low as 621 [more...]

Date: 2009-01-01 11:02:24

Stanley Johnson: Credit Bubble Mascot

Every market bubble deserves its own mascot. The symbol of all that was wrong with that era ... . It opens with a well-to-do suburbanite living in a big house, in a great community, with a new car ... . The recommendation for how get out of this mess. Just use Lending Tree to get a home equity loan [more...]

Date: 2008-12-16 15:15:54

Holy Moley

This is unbelievable:SACRAMENTO, Calif. – The national wave of auto dealership closures has come crashing down on thousands of people who are on the hook for used-car loans that dealers were supposed to absolve.When a car buyer still owes money ... the vehicle. But as more dealers go out of business, some are sticking consumers with the bill. Lenders [more...]

Date: 2009-02-02 13:43:43

MIT Students Invent Energy-Harvesting Shock Absorber, Plan to Take Over the World

Zack Anderson , senior in elecrical engineering and computer sciences, holds a GenShock prototype up to a Humvee coil spring where it is installed. Photo via MIT, credit Donna CoveneyFor once we just might be excited about going on a bumpy ride ... . An active electronic system controls the hydraulics and the car has a smoother ride while also [more...]

Date: 2009-02-13 14:57:00

The Ongoing Battle with Lifestyle Inflation

This is a guest post from Mike Young , who runs The Secure Student , a program that teaches high school students how to manage their money ... , I was 22, over $8,000 in credit card debt, and had ruined my credit score. In hindsight, the car I bought ... loan and improved credit scores, I bought my first home. Then things got tricky again. My income [more...]

Date: 2009-03-05 13:00:21

DrumBeat: January 29, 2009

The Peak Oil Crisis: The Stimulus This would seem to leave little doubt that the President understands what could turn out to be the two biggest ... and low-income homes, $10 billion to improve public transit and railroads. All this of course is only ... ) -- With auto sales at crisis levels, Washington is trying to figure out how to get Americans buying [more...]

Date: 2009-01-29 13:37:47

“I know, we’ll dig our way out!”

When exactly did the current economic “situation” stop being a crisis and develop into a full-blown parody? ... all be happy as clams… except this ignores the underlying problems facing the auto industry. Car ... , they are money pits. The average loan in the United States is for 98% of the car’s total value (couldn’ [more...]

Date: 2009-03-10 16:57:52

Get ready to buy everyone’s home improvements

People opposed to the mortgage bailout have erupted in anger over the thought of having to subsidize their neighbors’ house payments when they’ve ... for their home-equity seconds as well.Paragraph vi of the bill states:While eligibly loan modifications ... indebtedness of the borrower and improve loan performance. Servicers will be eligible to receive [more...]

Date: 2009-03-05 14:40:53

Obama's Tuesday speech

Barack Obama is what a real Democrat sounds like. Andrew Jackson was surely clapping from the Great Beyond when he heard Obama talking about the ... it. And then those workers will have money to spend, and if they can get a loan too, maybe they’ll finally buy that car, or open their own business. Investors will return to the market, and American [more...]

Date: 2009-02-25 14:39:00

Economic Impact of an Energy Downturn - Revisited

Last spring, I was asked to give a short talk about the expected economic impact of an energy downturn, as part of a public health program called " ... in Figure 1. In this chart, I show demand increasing in the future at about the same rate that consumption ... domestic product for it. In many ways, oil is like food for your car, or food for the [more...]

Date: 2009-02-11 14:14:57

Productivity Predicts Happy Days Ain’t Here Again

If you look at long term unemployment, the recession of the mid 1970's had an interesting feature: some jobs never came back ... that there was too much leverage in bad debt, however the stomach for a remedy wasn't there under Bush ... in bad assets, many of which are toxic—that is, the best that can happen is that they expire [more...]

Date: 2009-03-08 19:30:25

Costly Shibboleths

shibboleth: Modern usage: refers to any "in-crowd" word or phrase that can be used to distinguish members of a group from outsiders - even when not used by a hostile other group. The word is also sometimes used in a broader sense to mean jargon, the proper use of which identifies speakers as members of a particular group or subculture [more...]

Date: 2009-02-26 02:59:30

Holding The Bag With Thousands Of Vacant Homes

The Ouray News reports from Colorado. “County Treasurer Jeanne Casolari told county commissioners that the number of homes in foreclosure, ... of Chandler found themselves with between $25,000 and $30,000 in credit-card and student loan debt, a rising interest rate on their mortgage and a cut in pay when Jennifer quit her teaching job [more...]

Date: 2009-02-25 17:10:18

The Whole Damn Sham

As governments around the world mortgage the future to save the financial system, do you ever wonder what's so worth saving? ... for more, more, more profits in any way possible, loans were packaged and repackaged and distributed around the planet until ... , and no auto loans, it's hard to get in hot water. Unreasonable? Not to me, not to many others [more...]

Date: 2009-02-26 13:35:20

Housing bailout pays for second mortgages,liens and investments

Nation: Remember Obama's talk that people who flipped or made bad decisions wouldn't be bailed out? He lied ... . It has to do with second liens, that is piggy back loans or home equity lines of credit. Deep deep in the pages of the plan, is paragraph vi. Second Liens: While eligibly loan modifications will not require [more...]

Date: 2009-03-07 14:59:00

Unsecured Credit Cards in Canada - Are they the Right Decision

by Danny Griswald If you have held a Canadian credit card before, you may be familiar with the terminology involved with them, such as secured, ... to sort through the varying promotions, interest rates, terms and conditions, etc ... to make purchases on your credit card only being charged a low annual interest fee per month [more...]

Date: 2009-03-07 21:13:10

DrumBeat: February 6, 2009

U.S. pump prices on the rise as refiners cut back At least seven U.S. refiners have announced fuel production cuts as a result of weak profits stemming from softening demand, including Valero Energy Corp and ConocoPhillips -- the nation's two biggest fuel producers. As of the end of January, refiners were running their plants at just 82 [more...]

Date: 2009-02-06 14:01:48

Global Warming, a Reality?

From my best friends perspective, living in Ohio during the ice storm, ... we are funding Banks no one can get a loan in leaving our credit reports ruined, which unable us to move forward ... and have to many children to feed and diaper, too many car emissions that we pay boo coo bucks [more...]

Date: 2009-03-10 06:39:26

Fucking Raping You to Death: The Real Fun Begins

Part I , sisters and brothers. Now, we get to serious payback time for the ruling class ... . Michael Hudson : The Obama bank bailout is arranged much like an IMF loan to support the exchange rate of foreign currency, but with the Treasury supporting financial asset prices for U.S. banks [more...]

Date: 2009-02-19 21:42:00

Address to Joint Session of Congress

Did you watch? What are your thoughts? (I was actually impressed by how often the Republicans in the chamber stood and applauded.) The full text of the president’s speech, as prepared for delivery, may be read below the fold. Remarks of President Barack Obama – As Prepared for Delivery Address to Joint Session of Congress Tuesday, [more...]

Date: 2009-02-25 03:50:46

Gates of Vienna News Feed 2/13/2009

The two most interesting news stories tonight come from China. First, the Chinese export industry has collapsed, throwing at least 20 million more people out of work. 20 million. Even in China, that’s a lot of people. The second story: China demands that the USA “guarantee” that the value of any further Treasury assets it buys will not be [more...]

Date: 2009-02-14 04:55:00

Making Home Affordable Plan Expected to Help 4-5 Million Homeowners Refinance

New stimulus logo The full details of President Obama’s Homeowner Affordability and Stability Plan — now being referred to as ” Making Home ... . Who Qualifies: In short: If the home you want to refinance is your primary residence, The loan on your home is controlled by Fannie Mae or Freddie Mac (it must be a conforming loan — [more...]

Date: 2009-03-04 20:15:11

Bad Credit Automobile Financing

Many people have utilized the World Wide Web in recent years and have found that they are able to obtain new and used car financing for far better ... for credit issues, they can always apply for online low interest rate car loans as the internet auto loan ... after a long day, looking for the best car loan isn't exactly at the top of their list. [more...]

Date: 2009-02-26 04:47:09

The Formula That Brought On This Crisis

I blame the ratings agencies for the bulk of the credit mess we are in, the Wall Street firms are not far behind. Ironically, both parties relied on a simple formula devised by a math wizard. He is David Li, and you can find him now as the Head of Risk management at the China sovereign wealth fund, CIC [more...]

Date: 2009-02-25 16:02:00

Is it time for you to buy a car? Here are some things to think about.

Looking at the economy, why would anyone want to buy a new (or a “new to you” car) at this point? ... and determine how long you intend on keeping the car. Keeping in mind that the days of easy credit may ... and employment situation Unavailable credit for even what would normally be considered “healthy” [more...]

Date: 2009-03-10 18:54:16

Forced frugality

Phew. ::looks around:: ::dusts self off:: So life chez Ferry is full of shifts and changes and the requisite stress and low-grade depression ... away to calmer waters. Anyway, I flogged that bad metaphor enough for one day. Spring ... ? Now the credit card that we’ve used for online purchas [more...]

Date: 2009-03-10 11:52:47

1 - 50 of 120 Posts
Page: First | < Preceding | Next >
0 | 1 | 2