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Topic: Credit
With this new law, consumers will have the strong and reliable protections they deserve. We will continue to press for reform that is built on transparency, accountability, and mutual responsibility
It’s easy to pay off the highest interest obligations first, but be aware of the consequences of shortchanging specific bills if you are short of cash. It’s better to eat rice and beans, watching over the air TV, commuting by bus, than be homeless.
By Paul M. J. Suchecki
Tags: bank bailout, Consumer Financial Protection Agency, financial crisis, ...
No CommentsThe hearings are similar to the Pecorra investigations for the US Senate in the 1930’s that dug out the reasons behind the 1929 stock market crash and led to financial reform.
This plan of action is wrong in a number of ways. Strategic default as advocated by some is irresponsible gaming of the system
Use cash when possible. It’s painless to pay with plastic compared to folding money. Businesses usually accept credit cards from the start because the 3% fee taken by banks for card purchases is more than offset by increases in sales.
It’s the kick off of the holiday spending season. If you listen to many news reports, it seems to be your patriotic duty to rack up as many credit card charges as you can today, since 70% of the US economy is fueled by consumer spending.
According to federal law as long as a derogatory item is accurate it is allowed to stay on your credit report for seven years, up to ten for a bankruptcy. It’s also a violation of the law for anybody to claim to be able to erase negative information if it is current and correct.
This guarantee allows for greater loan flexibility and less of a cash investment a borrower’s part compared to a traditional home loan. The FHA is the largest mortgage insurer in the world,
So what should you do to cope? First, budget. No matter how much you earn, add up your realistic income, and look at your expenses. Out of every paycheck, no matter how small, save something for a rainy day. As we’ve seen recently, they’ve come more often than we’d like.
By Paul M. J. SucheckiTags: Credit Improvement, DTI, HTI, Obama Homeowner Affordability and Stability Plan...No CommentsOnce you’re on a debt settlement plan, stick with it. Now that a new monthly payment is in place for the rest of your consumer debt, you can approach your mortgage lender with a fixed number that will encourage your loan servicer to work with you on reaching the Obama Plan’s 31% HTI.
mortgage fraud reverse mortgage personal finance Deficiency Judgment Default Nationwide Mortgage Licensing System credit cards Short-Fi Jumbo Loan second mortgage Loan Default Short Sale bankruptcy Loss Mitigation Conforming Loan mortgage first time home buyer tax credit Loan to Value Uncategorized Upside Down unemployment Real Life Stories Obama Financial Reform Obama Housing Plan Falling Home Value Refinance Lenders home value Credit Mortgage Revision economic news Loan Modification Foreclosure Help
January 11, 2010 1 Responses
Strategic Default? By Paul M. J. Suchecki
Comment by Stephanie: "This is hilarious!!..."
August 24, 2009 4 Responses
Who Will Answer the Phone? By Paul M. J. Suchecki
Comment by Jastnartest: "really great..."
December 30, 2009 11 Responses
Optimism, Albeit Guarded By Paul M. J. Suchecki
Comment by rickyk4: "Hi everyone, I..."
March 10, 2010 1 Responses
New Short Sale Program By Paul M. J. Suchecki
Comment by pharmacy technician: "nice post...."
