Start repairing bad credit rating now

Start repairing bad credit rating nowHomeowners who have lost their homes to foreclosures or through short sales may be able to buy another home in as little as two years by taking immediate steps to rebuild their credit. MAKING SENSE OF THE STORY FOR CONSUMERS...

New Fed rules beginning Oct. 1, 2009

New Fed rules. Beginning Oct. 1, 2009 new rules adopted by the Federal Reserve will go into effect, requiring greater diligence on the part of mortgage lenders and brokers who issue high-cost loans for borrowers with less than favorable credit. The interest rates on...

FHA will tighten credit standards

FHA will tighten credit standards Although the Federal Housing Administration (FHA) has confirmed that as of Sept. 30 it will fall short of its legal requirement to maintain supplementary reserves of 2 percent of the loans it insures, FHA Commissioner David Stevens...

Last Week in the News on economic updates

Last Week in the News According to the Federal Reserve, consumer credit debt fell in July by $21.6 billion, an annual rate of 10.5%. It was the biggest decline since recordkeeping began in 1943. Economists had forecast consumer debt would drop $4 billion. Total...