The hallmarks of a predatory loan are exploitation and entrapment: These sky-high interest loans target consumers who have little ability to repay the loan, such as the elderly, people with limited education, those with weak credit While predatory lending is often associated with payday loans and subprime mortgages, the practice can be found with any loan. And new schemes are cropping up every day -- online and off. Create a news alert for "debt management".
At the CFPB's semi-annual report to Congress Wednesday, the bureau's director praised Honda Finance for setting limitations on dealers' ability to mark up interest rates on auto loans. But he also fielded questions about
Mortgage rates jump after positive news about jobs The Fed's monetary policymaking group meets next week. Results of Bankrate.com's June 10, 2015, weekly national survey of large lenders and the effect on monthly payments for a $165,000 loan: . LinkedIn; Delicious; Reddit; Stumbleupon; Email story Mortgage servicers are spending more time on borrowers who are behind on payments than those who are current, according to a new J.D. Power study.
Shoved aside by the hot mortgage products of recent years, Veterans Affairs mortgage loans are making a comeback and are a viable financing alternative for veterans looking to secure an attractive fixed-rate loan with little or no money down. 3 percent to 4 percent closing and administrative costs required as part of the loan and build it into the home's purchase price, making these loans even more attractive. The loans are only available for owner-occupied homes. Share this story
Percentage of monthly income that is spent on debt payments, including mortgages, student loans, auto loans, minimum credit card payments and child support. Debt payments / income. Example: Jessie and Pat together earn
Auto retailers and lenders are trying to debunk the notion that a bubble of rapid growth in subprime auto loans will lead to a wave of defaults, tanking the U.S. financial system the way subprime mortgage defaults did before the 2008-09 recession. Wall Street analysts have been asking the auto finance industry about the rise of subprime loans since last summer when The New York Times popularized the bubble idea. Or submit an online comment below. (Terms
Siegel published an op-ed about his experience in Sunday's New York Times. He stopped short of calling for a student loan boycott in the piece, but told the "Squawk Box" hosts such a boycott would be a good way to protest
HousingWire Content on News. Appraisal Institute selects Jim Murrett as new vice president. Begins one-year term on Jan. And why are Llano Financing Group and Carrington Capital Management suing so many appraisers? Plus, will
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