Why The Biggest Risk To The Economy Is A Strong Recovery
Concerns about the current economic mess turning into another Great Depression seem to have faded. The consensus view of government officials and private economists seems to be that the economy, although still fragile, is well on its [...]
Federal Reserve Super Low Rate Policy Crushes Savers And The Elderly
Fed Sees Solution In Zero Rates
The Federal Reserve recently vowed to keep interest rates “exceptionally low” for the foreseeable future in an attempt to revive the economy. Since mid 2006 the Fed has brought the [...]
Artificial Mortgage Rates Drop To 4.75%
Fed Manipulation Of Mortgage Rates Continues
Mortgage rates continue their downward trend with the perfect borrower now able to obtain a rate of 4.75% with a two point buy-down on a 30 year fixed rate mortgage. As expected, [...]
Loan Sharks “Salvation” For Many At 2,437% Interest Rates
Loan Sharks: The New Subprime Lenders With A Twist - They Expect To Get Repaid - And Why A Loan At 2,437% Interest Makes Sense
For every loser, there is a winner. Since the demise of the subprime [...]
Dear Congress - Thanks For Doubling My Credit Card Interest Rate
Congress Takes Bow For Credit Card Act of 2009
The Credit Card Act of 2009 was intended to curb certain practices of the credit card industry that were deemed abusive to consumers. With a great deal of public [...]
“Liar Loans” - RIP - October 1, 2009
Liar Loans To Be Prohibited
No income verification and stated income mortgage loans have been available to borrowers for many years. As originally conceived, a no income verification loan was a sound product, offering highly qualified borrowers [...]
Mortgage Refinances Drop 11% As Rates Remain Low
Refinances Decline as Rates Stabilize
The latest weekly survey from the Mortgage Bankers Association showed a decrease of 6.3% in mortgage loan applications. Application volume compared to the previous year increased by 16%.
The interesting aspect of the latest [...]
The Fed’s Contribution To Ponzi Schemes
12% Returns - “Guaranteed”
You don’t know whether to laugh or cry every time another Ponzi scheme comes to light.
July 28 (Bloomberg) — The U.S. Securities and Exchange Commission said it halted a $50 million Ponzi scheme near [...]
Payday Lenders - Predators or Saviors?
Payday Lenders Serve The Financially Inept
One of the fastest growing lending businesses in the country has been “payday lending”. Without the hassle of a credit check or application, a payday lender will give an employee a cash [...]
