Agencies cut ratings on risky home loans (MSNBC)

 

rates home equity loans

see here are unsecured personal loans and most major credit cards.

Agencies cut ratings on risky home loans (MSNBC)

Standard & Poor’s and Moody’s Investors Service have cut the credit rating of bonds backed by risky home loans, saying borrowers are missing mortgage payments at levels much higher than anticipated.

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Student Loan Rates Could Decrease (R News)

WASHINGTON, D.C. – The House approved legislation to cut interest rates on student loans. To pay for the proposal, lawmakers would cut about $19 billion in federal subsidies to banks that issue government-backed student loans.

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Where to Invest If Your Home Equity Evaporates: John F. Wasik (Bloomberg.com)

July 9 (Bloomberg) -- If you can't depend on your home equity increasing during a U.S. housing downturn, where do you turn for growth? U.S. bonds offer cold comfort. With ultra-safe six-month Treasury Bills yielding as much as 5 percent, your real return is paltry after inflation and taxes.

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To find growth investments, you may have to look far from your home (Boston Globe)

If you can't depend on your home equity increasing during a US housing downturn, where do you turn for growth?

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Lawsuit: Blacks Targeted for Risky Loans (AP via Yahoo! Finance)

The NAACP sued a dozen mortgage lenders on Wednesday, claiming the companies discriminated against blacks by steering them into higher-interest, subprime loans while giving more favorable loan terms to white borrowers.

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Banks get picky about home equity loans and so should you (Courier-Post)

With summer frequently comes the yen to take on a home improvement project.

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Bankrate: Mortgage Rates Up Slightly (PR Newswire via Yahoo! Finance)

Mortgage rates increased slightly, with the average 30-year fixed mortgage rate now 6.78 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.29 discount and origination points.

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Late payments up for home equity loans (AP via Yahoo! News)

Late payments on home equity loans climbed to a 1 1/2-year high in the opening quarter of this year, while delinquencies on credit card bills fell, painting a mixed picture of how people are managing their debt.

Read full post here. Copyright (c) 2004 Yahoo! Inc. All rights reserved.

The Aussie home affordability crisis (Stuff)

An election year finds plenty of fertiliser spread on the issue of home affordability. Steve Burrell reports.

Read full post here. Copyright (c) 2004 Yahoo! Inc. All rights reserved.

Cut credit ratings are latest smack at housing markets (USA Today)

Hours after Standard & Poor's warned Tuesday that it may cut the credit rating of more than $12 billion in bonds backed by risky home loans, another agency downgraded its rating on hundreds of similar securities.

Read full post here. Copyright (c) 2004 Yahoo! Inc. All rights reserved.

If you have ever been bankrupt you will know how difficult it is to even try to get another credit card, car loan, or a mortgage on a home. This did hold true in earlier generations but it is perpetuated now through incorrect and incomplete information that is threatened by ruthless collections agencies. The truth is, even people with terrible credit or recently discharged bankruptcies can still get a credit card, personal loan, or a mortgage for a house.




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