Category Archives: Credit Line

The Best Explanation I’ve Read For Credit Scores

Diane Tuman nails it! Do not think about your credit score as a credit score but as a relative credit ranking compared to the rest of the population. Lenders need to know the odds on your paying your bills on … Continue reading

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Realtors Seek Revision To FICO Score

I hate getting letters from my credit card companies saying they are reducing my available credit. It feels like a big slap in the face. Don’t they know who I am? Other credit card companies have gone bankrupt, such as … Continue reading

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How The Credit Crisis Has Hit Me

In early 2008, though I was only earning about $1200 a month at the time, about a $1,000 a month less than my living expenses, I had access to about $100,000 worth of credit via various credit cards. More credit … Continue reading

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Economist Thomas Sowell Examines The Housing Boom & Crash

I’m reading this new book by economist Thomas Sowell — The Housing Boom and Bust. Read On For more than a decade, US newspapers have editorialized that banks are more conservative than they should be about lending money to blacks. … Continue reading

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New Regulations To Promote More Accurate Lending Risk

Credit rating agencies were spectacularly wrong in the past few years when they tried to assess the worth of mortgage-backed securities. When thousands of home owners can no longer afford to send in their monthly mortgage payments, all the fancy … Continue reading

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A Refinance On A First Mortgage Will Typically Cost You $2,000 To $4,000

Those are upfront fees. It’s usually not a good idea to refinance your mortgage to pay off student loans. Such loans have a lot of flexibility and fewer penalties than other types of loans. If you can get a Home … Continue reading

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Recession Reshapes California’s Housing Market

Americans are no longer thrilled to extend their debts. For the last six months, the amount we owe on credit cards, auto loans and other forms of consumer loans dropped, according to the Federal Reserve. That’s the longest decline since … Continue reading

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Corporate Loan Default Rising To Level Of Great Depression

Angelo Mozillo in 2007 noted that the mortgage market was seeing defaults at a rate not seen since the Great Depression. This remark was the first official announcement of our mortgage meltdown and Countrywide stock went in the toilet. This … Continue reading

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The Two Trillion Dollar Meltdown

I am reading the 2008 book by Charles Morris, “The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash.” He is publishing in February 2009 a revised paperback edition called “The Two Trillion Dollar Meltdown.” I can’t … Continue reading

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Where’s The Next Front For The Credit Crisis?

From Bloomberg: California Governor Arnold Schwarzenegger says his and other states may need emergency federal loans as funding dries up. Bernanke announced new moves today aimed at easing the lending crunch. The Fed will double its auctions of cash to … Continue reading

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