Lenders are great at making numbers look phenomenal. They also make some of the smallest small print out there. And only once you’ve been enticed by some “perfect deal” are you hit with a massive contract that has you signing what feels like your life away.
“Can I get $300 for my cable bill?” Translation: Are you dumb enough to pay for my foolish financial mistakes by handing me the hard-earned fruits of your labor? This type of shamelessness reminds me of a high school classmate I had back in the day – I called her the serpentine swindler. She slithered around […]
Successful mediations have benefits for all parties, but getting everyone to the table is another matter.
(U.S. News and World Report) — If you need to borrow to finance your education, federal student loans should be first on your menu. Congress and the U.S. Department of Education regulate federal student loans, setting maximum interest rates, borrowing limits, and other important loan terms. These loans come in loads of different flavors. Here’s a taste […]
(Sarasota Herald-Tribune) — THE U.S. SMALL BUSINESS Administration announced on Dec. 15 that it was ending its Community Express pilot loan program on April 30. The program has been widely used by small business owners in need of small amounts of working capital — up to $25,000 in most sites and $50,000 in Historically Underutilized […]
(US News and World Report) — My mama always told me that you can’t get blood from a turnip. True enough. Even so, when student loanborrowers graduate, we’re told we have to start paying back our loans. That can be tough, especially for graduates still looking for work in this sluggish economy. There are lots of […]
(LA Times) — The day is coming when lenders will no longer turn their clients loose after they leave the closing table, never to be heard from again unless someone misses a payment or two. Think of it as crisis intervention. Rather than waiting for previously solid borrowers to ask for help, lenders will monitor […]
(Wall Street Journal) — When a student dies, the bill for his student loans often lives on – to the painful surprise and dismay of his co-signers. New Senate legislation seeks to change that, by requiring lenders to make clear the obligations of co-signers in the event of death. Introduced yesterday, the “Christopher Bryski Student […]
(Businessweek) — If you haven’t had luck landing a business loan or credit line from the big banks you’ve approached, don’t expect your odds to improve any time soon. The Basel III guidelines, intended to prevent further financial crisis, will require lenders such as Bank of America (BAC), Citigroup (C), JPMorgan Chase (JPM), and Wells […]
(LA Times) — When the Federal Reserve recently rolled out its plan to pump $600 billion into the credit markets, many homeowners and buyers might have figured that because mortgage interest rates are now likely to fall again, why not postpone the loan application they were contemplating? Fed Chairman Ben S. Bernanke offered implicit support for that […]
(New York Times) — By proposing to curtail the tax deduction for mortgage interest, the president’s deficit commission is sounding an alarm. The home mortgage deduction is one of the most widely used and expensive tax subsidies. More than 35 million Americans claim it, and the federal government estimates it will cost the Treasury $131 […]
(Washington Post) — Tick tock. Tick tock. That’s the sound recent college graduates are hearing as they near the day of reckoning. The typical six-month grace period on student loans is about to end. Then wham! They face the reality of what it costs to get an education. For years, I’ve written, talked and generally […]