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

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 str

How Tapping Into Home Equity Is Like Pawning A Gold Necklace

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 collater

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

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 con

They used to call it "loan workout"

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