Category Archives: credit scores

Credit Scores

I’m reading the book Mortgage Confidential: What You Need to Know That Your Lender Won’t Tell You by David Reed. On page 138, he notes when two people apply for a loan, lenders may use the score of the person … Continue reading

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Revising The FICO Score

Americans credit scores have plunged over the past four years despite a reduced use of credit cards and a widespread commitment to paying down debt. Americans have reduced their consumption since 2006 and instead focused on reducing debt. A superb … Continue reading

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Tightening Regulation On Credit Ratings

One big slice of the blame for the mortgage mess is the credit rating agencies who were way off in their ratings of mortgage-backed securities. They rated a lot of stuff AAA — which means really good — that turned … 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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Mortgage Troubles Destroying Credit Scores

If you walk away from your mortgage, your credit will be thrashed for years. If you are late on your mortgage payments, your credit score will take a severe dip. What you do about your mortgage troubles will have varying … 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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Students Struggle With Financial Downturn

Report: Economic uncertainty is plentiful these days, at UTD and elsewhere. The day previous, the House of Representatives rejected a $700 billion plan proposed by Treasury Secretary Henry Paulson, chairman of the Federal Reserve Board Ben Bernanke and U.S. President … 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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What You Need To Know About The Credit Crisis

From MSNBC: If you bank with a credit union, make sure that it is insured under the National Credit Union Insurance Fund, which provides similar protections for credit union account holders. Retirement investments The FDIC also provides coverage of up … Continue reading

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Ten Tips For Surviving The Crisis

From the WSJ: 1. Check that your bank accounts are federally insured. The Federal Deposit Insurance Corporation (FDIC) guarantees deposits up to $100,000 per person. The Securities Investor Protection Corporation (SIPC) guarantees you at places like Lehman Brothers, Merrill Lynch, … Continue reading

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