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Strategic Default and the Morality of Walking Away
A few weeks ago I talked to a friend about his mortgage. Like many homeowners, he and his wife have seen the value of their house plummet since they bought it three years ago. Despite putting down 20...
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In Jobs Speech, Obama Warns Republicans on CFPB
The President’s jobs speech made headlines last week for its “fiery tone and impassioned delivery.” The New York Times’ David Brooks went so far as to call the speech, in which Obama outlined a $447...
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What Google Advisor Can Do For You
In case you missed the news in May, Google has a tool designed to make the tedious and sometimes bewildering task of comparing financial products like mortgages, CDs, checking accounts, savings...
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Fed Study: Foreclosure Aftermath Maybe Not So Bad After All
A study published last May by researchers at the Federal Reserve has been getting a bit of buzz of late due to its surprising findings about the nature of the foreclosure crisis. The paper acknowledges...
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Current on the Mortgage, but Delinquent on Property Taxes
One question we hear from time to time at Credit.com and elsewhere is what happens to a homeowner who is current on the mortgage but is delinquent on property taxes? This situation illustrates the fact...
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Q&A: Student Loan Defaults and Garnished Wages
The amount of federal and private student loan debt held by Americans, which is expected to top $1 trillion this year, has now surpassed credit card debt. And given the persistently high unemployment...
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When Is a Credit Card Like a Career?
We do a fair bit of writing here about the impact of interest rates when it comes to paying off credit card debt. It should come as no surprise to any regular visitor to this site that paying minimum...
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Study: African Americans & Latinos Twice as Susceptible to Foreclosure as Whites
The Center for Responsible Lending released a study today that documents a trend in American foreclosures that is startling, yet not surprising. The study, “Lost Ground, 2011: Disparities in Mortgage...
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Mark Frauenfelder Won’t Kill Chickens
In 2003, Mark Frauenfelder and his wife Carla decided to do something a little crazy. They decided to ditch their lives as freelancers in Los Angeles, following a slowdown in the media business, and...
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Defaulting on Private vs. Federal Student Loans
It’s a simple equation, really. Expensive College + No Jobs = Student Loan Defaults. With sky-high tuition, an anemic economy and a tight job market, America is approaching the $1 trillion mark for...
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Verizon Cancels $2 ‘Convenience’ Fee
Just one day after announcing that it would charge it’s wireless customers $2 for one time credit and debit card payments made over the phone or online, Verizon has scrapped plans for the new fee. The...
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Military Families on the Move: Protect Your Credit
For many military families, spring and summer can be a stressful and trying time of year because it often involves moving to a new duty station. Many military families move almost every year, and there...
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Foreclosure Activity Creeping Up Again
The number of foreclosures by mortgage lenders experienced by consumers nationwide has dipped significantly in recent months due to a recently-settled investigation by state and federal authorities,...
View ArticleCredit.com in the News: 5.20.12
This week the experts from Credit.com contributed to a wide range of publications on subjects including identity theft, credit scores, credit cards and debt. Check out some of the highlights… Adam...
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6 Birthday Wishes for the CFPB
On July 21 of last year, the Consumer Financial Protection Bureau came into existence. It was born of the chaos that followed the 2008 financial meltdown and its charter became perhaps the most...
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Mixed Reviews on CFPB’s New Mortgage Rules
In an effort to forestall a repeat of the 2008 financial crisis, the Consumer Financial Protection Bureau today announced it would issue new mortgage rules designed to ensure that borrowers have the...
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Did Credit Scores Just Get Fairer?
In a move that could have a wide-ranging impact on both the credit scoring business and the availability of credit to consumers, VantageScore Solutions today announced the latest version of its credit...
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Financial Meltdown in Cyprus: Could it Happen Here?
Though we may be getting desensitized to European bailouts and the prospect of more of them, the recently proposed — and currently rejected — bailout in Cyprus is perhaps more likely to give us pause....
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Lawmakers Clash Over Student Loan Debt Reform
Federal lawmakers have been mulling ways to address the growing problem of student loan debt and rising instances of delinquency and default on those accounts, but now conflicting views as to how to do...
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Credit Rage! What’s Your Beef?
Let’s face it. Credit makes lots of people angry. Credit cards, credit reports, credit scores and lending in general can be a confusing business. That confusion turns into concern, then exasperation,...
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