banks

What's the big deal about banks refusing to lend?

Posted 7 weeks 3 days ago by Philip Brewer

Anybody--but especially frugal people--can be excused for thinking that the whole credit crisis thing is being overblown. After all, we get along without debt. In fact, we strongly recommend that others do so as well. If getting along without debt is the way to go, why make such a big deal over a credit crunch?

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Best of personal finance: WaMu go bye-bye?

Posted 10 weeks 19 hours ago by Andrea Dickson

Personal Finance, Consumer Affairs

WaMu on the way out? Also, learn to control your ego as a means to control your spending. Bulk buying makes sense for people who plan ahead. There's no shame in bargaining - learn to do it right. What Consumer Reports gets wrong. Inner peace the easy way.

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How Tapping Into Home Equity Is Like Pawning A Gold Necklace

Posted 16 weeks 1 day ago by Julie Rains

Consumer Affairs, Real Estate and Housing

It has occurred to me that tapping into one’s home equity can be like pawning a gold necklace, television set, or other personal item with resale value. Both involve using collateral, either to borrow thousands of dollars through a home equity loan or home equity line of credit aka HELOC – or to borrow $50 for a very short period of time. I think it is interesting to compare and contrast these two types of loans.

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Buyer Beware: The Weakest Banks Often Offer the Highest Interest Rates

Posted 19 weeks 3 days ago by Xin Lu

Personal Finance, Investment

Today the troubles of IndyMac bank was splashed in the headlines. Its stock has fallen to nearly $0 and depositors are making a run at closing their accounts. IndyMac has been consistently been paying one of the highest CD interest rates in the nation, and it is a prime example of a financially weak bank that offers high rates to attract new deposits.

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Rising bank fees are costing you-big time

Posted 32 weeks 3 days ago by Mark P. Cussen

Personal Finance

Bank fees have increased substantially over the past several years. This article covers some of the ways that banks are charging their customers and how

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They used to call it "loan workout"

Posted 51 weeks 2 hours ago by Philip Brewer

Personal Finance

It has never been unusual for borrowers to run into difficulty, and sometimes it becomes clear that a loan will never be repaid in full. The lender's job then is to recover as much money as possible. Because foreclosures are expensive and the eventual recovery is uncertain, it's often a better bet for the lender to restructure the loan--settling for less than they are owed, but more than they'd get in a foreclosure. One of things that has made the subprime debacle go from bad to worse is that loan workout is much tougher when loans are securitized--sold, packaged, diced up, and sold again.

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