Homeowners See Help from FHA »
The Federal Housing Administration will start accepting applications for the Short Refinance program on September 7th 2010. This has been put into place to assist borrowers with more debt in mortgages than their homes’ actual value in today’s market.
This program was announced in March of 2010 to encourage lenders to forgive 10% or more of [...]
Small Business Lending Up, Cash Running Out »
Southern California saw an increase in government backed small business loans. During a nine month period, lenders made over 1,700 small business loans in Southern California, more than 50% more that the same time period a year earlier. This increase in loans is a great thing for small businesses.
Unfortunately, the money that runs the programs [...]
Kaplan Closes Admissions, Federal Investigation »
Federal investigators are looking into claims that for profit colleges have been tied to fraudulent sales tactics and high pressure incidents while enrolling some students. Because of this investigation Kaplan University has stopped accepting admissions in Pembroke Pines and Riverside, California.
The school in Pembroke Pines had an incident where an admissions officer told some applicants [...]
15 Year Mortgage under 4 Percent »
Homeowners looking for a rare opportunity may have just hit pay dirt. The interest rate on 15 year mortgages have sunk below 4 percent for the first time in decades, giving people a chance to jump in on the ground floor. The only issue is if they can afford the higher loan payments.
The problems arise [...]
Cash Now, Debt Later »
The Better Business Bureau is warning people that these short term loan companies, also known as the “Cash Now” and “Payday Advance” type loaning companies can end up costing unsuspecting consumers more than they could ever imagine. Especially with the high interest rates that are involved.
Most people seek these loans as a way to make [...]
For-Profit Colleges Help with Fraud »
For-profit colleges have been found to help applicants gain high financial help by telling them to hide income and falsify number of dependents, a U.S. government report stated. The Government Accountability Office sent in investigators posing as students to see what their practices were and found out first hand.
School personnel encouraged applicants to use fraudulent [...]
Private Lenders Spur Small Business, But at What Cost? »
In this ever increasingly frustrated economic situation we are finding ourselves in, small businesses are losing out fast due to federal regulation reform and banks tightening their purse strings. This creates a vacuum for small businesses where their money is sucked away for debts, but they can’t afford to expand or pay their employees.
In swoops [...]
Student Loans Hacked, $700,000 Gone »
The New Mexico Educational Assistance Foundation lost as much as $700,000 in early July due to an attack by hackers accessing their bank account. The non-profit assistance foundation manages student loans and has a worth of around $1.3 billion for over 90,000 New Mexicans. Thankfully, it was just money, and no personal records or data [...]
Fed’s Block California Gov. Schwarzenegger’s EdFund Sell »
California Gov. Schwarzenegger’s idea of selling off the EdFund student loan operation was stopped by federal officials, stating that the federal government was going to end its contract with the state in October. Gov. Schwarzenegger had hoped to sell off the loan program for an estimated $1 billion in the hopes of closing up some [...]
Fed Refuses Energy Efficiency Loans »
It appears that the Federal Housing Finance Agency has turned down a loan program that would help residents with upgrading their homes to be more energy efficient. This comes as a shock to lawmakers that determined the loan program could be just the thing needed to add jobs, and reduce greenhouse gasses across the nation.
In [...]
