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The Dolans Discuss Family Debt

Fri, 15 May 2009 19:39:31 GMT

The Dolans Discuss Family Debt

posted: 48 DAYS 3 HOURS AGO

Lending money is a touchy subject and in our current volatile economy, it's not uncommon for family and friends to turn to each other for a loan. We know how much you care for your loved ones, but this can cause significant problems ... especially when that loan goes unpaid.

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Refinance, If You Can

toddpruzan — Tue, 12 May 2009 20:56:00 GMT

Refinance, If You Can

posted: 51 DAYS 2 HOURS AGOcomments: 0

filed under: Banking, Credit, Credit Reports, Credit Score, Debt, Loans, Mortgages, Personal Loans, Recession, Refinancing

The good news: mortgage rates are going to stay for a while near 5%, the lowest they've been in our lifetimes. The bad news: Unlike a couple of years ago, merely having a pulse is no longer enough to get a mortgage refinanced. Demand is high, standards are tougher, and approvals are relatively scarce. Read on to learn what you should know before you refinance.

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Credit-Card Crackdown: 8 Key Issues

toddpruzan — Fri, 24 Apr 2009 16:02:12 GMT

Credit-Card Crackdown: 8 Key Issues

posted: 69 DAYS 7 HOURS AGO

filed under: Banking, Credit, Credit Cards, Credit Reports, Credit Score, Debt, Loans, Personal Loans, Recession

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AFP / Getty Images

President Obama this week called 14 top banking executives to the White House to announce he would support legislation protecting cardholders from abrupt interest-rate increases and fees, among other practices. Card issuers are fighting two cardholder-protection bills circulating on Capitol Hill -- one was cleared on Wednesday for a House vote, and another will be examined next week in the Senate. Read on to see how the U.S. is trying to change eight controversial card-company practices.

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Struggling to Pay Debts? Tell Your Lenders

toddpruzan — Mon, 20 Apr 2009 15:24:30 GMT

Struggling to Pay Debts? Tell Your Lenders

posted: 73 DAYS 7 HOURS AGOcomments: 0

filed under: Banking, Credit, Credit Cards, Credit Reports, Credit Score, Debt, Beat Debt, Loans, Personal Loans, Recession

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Will credit-card issuers respond to a request for lenience from someone suffering through the recession and struggling to make payments? Or is a credit counselor a better option? For some frank answers (and, possibly, some good news), read on.

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Not So Fast! Your Card's Been Canceled

toddpruzan — Mon, 13 Apr 2009 16:02:00 GMT

Not So Fast! Your Card's Been Canceled

posted: 80 DAYS 7 HOURS AGOcomments: 0

filed under: Banking, Credit, Credit Cards, Credit Reports, Credit Score, Personal Loans, Recession

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Your card's been cut off abruptly -- that's bad news. Here's some worse news: You found out when you tried to use it in front of clients, at a restaurant. Furious? Here's the worst news of all: It's happening more and more, and there's not much you can do after you've been cut off without warning. But a couple of tips might keep you from getting dumped. Find out how.

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Giving Up a Card for Cash? It's a Gamble

barrypsummerlin — Tue, 14 Apr 2009 20:54:43 GMT

Giving Up a Card for Cash? It's a Gamble

posted: 79 DAYS 2 HOURS AGOcomments: 0

filed under: Banking, Credit, Credit Cards, Credit Reports, Credit Score, Personal Loans, Recession

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Some Citibank cardholders have been encouraged to make a deal this spring: pay more than the minimum, and get as much as $550 credited to your account. Oh, and stop using your card for up to eight months. And agree to have your credit limit lowered, whether you complete the promotion or fail. Sound like a good deal? Well, maybe for the right customer. But for others, it's a serious gamble. So what's this offer really about, for Citibank and its customers? Read on to learn more about the perils of the cash-back offer.

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Credit Markets Improve -- But Don't Cheer

toddpruzan — Tue, 07 Apr 2009 19:57:53 GMT

Credit Markets Improve -- But Don't Cheer

posted: 86 DAYS 3 HOURS AGO

filed under: Banking, Credit, Loans, Mortgages, Personal Loans, Recession, Refinancing, Student Loans

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While you might find it easier to get a mortgage or a big loan this spring than six months ago, the loosening of the credit markets has economists feeling more spooked than celebratory. Any brief leap is better than a brief tumble, but the bounce doesn't counter our exploding unemployment or heal our banks. As last week's stock-market rally starts to feel very ... last week, it's worth noting that a phenomenon like the credit-markets bounce is familiar enough to have its own macabre nickname, a nickname not beloved by cat-fanciers. Read on to find out more.

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Want a Cheaper Loan? Join a Credit Union

macfarlane06 — Tue, 21 Apr 2009 16:33:39 GMT

Want a Cheaper Loan? Join a Credit Union

posted: 72 DAYS 6 HOURS AGO

filed under: Auto Loan, Banking, Credit, Cut Costs, Get Deals, Home Equity Loan, Loans, Mortgages, Personal Loans, Recession, Refinancing

Looking to score a mortgage or a car loan? That used to be easy, but the credit crunch has made banks a little tight-fisted. If your bank shakes its head when you ask for financing, maybe it's time for you to join a credit union.

During the subprime boom, these cooperative financial institutions invested far more conservatively than most banks, and today they're reaping the rewards of avoiding a bust. That's good news for consumers who belong to credit unions, where the average interest rate for used cars is far lower than it is at banks. Carmakers are even offering discounts on new-car loans through some participating credit unions. And many credit-union members enjoy lower rates on 30-year mortgages and home-equity loans.

So can you take advantage of credit-union benefits? Read on to find out.

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Credit Unions and Cheap Loans

At a credit union located within a Phildelphia Baptist church, one member -- the pastor -- opens an account. Credit unions in recent years tended to choose conservative investments over the high-risk strategies favored by banks, and today, many offer loans more freely and at lower interest rates.

Douglas M. Bovitt, AP

Inventory at a Chrysler-Jeep dealership outside Chicago in 2008. Troubled automakers Chrysler and General Motors have offered discounts of up to $1,500 to customers financing new-car purchases through credit unions.

Scott Olson, Getty Images

A Chicago used-car lot. Interest rates for used-car loans financed through credit unions recently averaged 6.65%, compared with 7.45% for loans financed through banks.

Scott Olson, Getty Images

An upscale townhouse-condominium under construction in March 2009 in Fairfax, Virginia, was a rare glimmer of life in a regional downturn on new-home construction. Interest rates on 30-year mortgages secured through credit unions in early 2009 averaged 5% -- half a percentage point lower than rates at banks.

Paul J. Richards, AFP / Getty Images

A FannieMae ad at the Mortgage Banker's Association Conference and Expo in San Francisco in October 2008. In early 2009, credit unions were financing home equity credit lines at an average interest rate of just 4%, compared with 5.7% at banks.

Justin Sullivan, Getty Images

MagnetBank in Utah was seized by the Federal Deposit Insurance Corp. in late January 2009. As banks continue to suffer years of risky investments, credit unions are emerging for consumers as safer, more stable institutions.

Douglas C. Pizac, AP

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For Cheap Loans, Credit Unions Beat Banks

bethpinsker — Thu, 26 Mar 2009 18:42:35 GMT

For Cheap Loans, Credit Unions Beat Banks

posted: 98 DAYS 4 HOURS AGOcomments: 0

filed under: Banking, Credit, Debt, Beat Debt, Loans, Personal Loans

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Forth Worth Star-Telegram / MCT

Need a car loan or a home mortgage? Try a credit union -- they've got plenty of cash, they're largely free of subprime sleaze, and their interest rates often a percentage point lower than the banks'. Read more from Kiplinger's Personal Finance.

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Tax-Smart Ways to Lend to Family

Wed, 11 Mar 2009 20:57:18 GMT

Tax-Smart Ways to Lend to Family

posted: 113 DAYS 2 HOURS AGO

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Want to avoid taking a hit for being nice? Find out how to give your family a hand without paying too much in taxes from our partners at SmartMoney.com.

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