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Right now, interest rates on home mortgages are at the lowest level in decades, if not ever. If you can get it, going for a lower interest rate might be the most beneficial thing you can do to help you get over some financial humps and get things done. A real life story came up [...]
Talk about an interesting dilemma. Everyone knows about the California housing industry, which of course also ties in with unemployment and the rest of the problems California is having with their finances. A big part of the housing industry’s problem is the high foreclosure rates that are still occurring, even as a portion of their [...]
On the heels of the bad news from Citigroup regarding their bad 4th quarter and good news from Chase regarding their 4th quarter, I decided to combine some of the reports from the rest of the bank’s all in one post just to get it all over with certain move on to other things. Wells [...]
When I wrote my article on Blacks And Hispanics getting higher mortgage rates, the bank I mentioned at the time was my favorite whipping boy, Citigroup. Seems that another bank is being called onto the carpet for doing the same thing. Memphis and Baltimore have called out Wells Fargo for doling out high-interest subprime mortgages [...]
The Treasury Department today gave GMAC Financial Services another $3.79 billion dollars, bringing the total amount they’ve been given to more than $16 billion and, in effect, giving the government 56% ownership in the company. Who needs a quick loan? Supposedly, this new money is to help shore GMAC up to make sure they don’t [...]
On Monday, the Treasury Department decided it was time to get tough with mortgage lenders who have been participating with the government’s program to help people modify their loans to more affordable rates so they have a better chance on keeping their homes and being able to pay their mortgage for awhile, but aren’t giving [...]
After the last quarterly report of Citigroup’s big profit, which, as I pointed out then was a fluke because of a big sale they’d made, Citigroup has fallen back to reality and posted a loss of 3.24 billion yesterday. Man, I hate gloating, as it looked like I did when they were forced to continue [...]
