Archive | December, 2009
US Treasury Department Pushes Banks To Help Homeowners
The US Treasury Department just might look like a knight on a white horse to some homeowners facing foreclosure and unable to get cooperation from their mortgage company. Despite a federally backed loan program meant to create permanent loan modifications, banks have been slow to work with consumers. That may change as the US government [...]
Continue reading...Today’s Auto Loans for Tomorrow’s Economy
29. December 2009
Today’s auto loans are like taking the bus: there’s always one coming, but is it going to get you where you want to go? President Obama painted the picture of an economy that is growing for the first time in a year. And while the third quarter of 2009 did reflect a 3.5% increase in [...]
Continue reading...Factors Contributing To Small Bank Failures
25. December 2009
With over 140 bank failures in 2009 alone, it goes without saying that this has been one of the most challenging years ever faced by banks. Banks of all sizes have fallen in the economic storms and challenges in the capital markets but recently the bank failures seem to be limited to small, community banks [...]
Continue reading...Stores Trying to Lure Shoppers Right Before Christmas
22. December 2009
One of the unusual aspects of Christmas shoppers is that they can often stay on budget and resist overspending all the way up to the last few days before Christmas. Then stores start putting on special sales with the sole purpose of luring shoppers into one last spending spree. Consumers can easily find themselves with [...]
Continue reading...How to Benefit From Low Interest Rates
22. December 2009
The Fed announced on Wednesday that they plan to keep interest rates low for the foreseeable future in spite of the fact that the economy seems to be recovering more quickly than many anticipated. Decision makers at the Fed are poised to keep rates low out of a fear that they could stifle the recovery [...]
Continue reading...Tight Lending Market Hurts Consumers
18. December 2009
It is easy to forget that there are millions of people who did not lose their jobs and are living through the recession without having to make significant financial changes. Many of these consumers have good credit or credit that would not prevent them from borrowing responsibly. The problem is they can’t find money [...]
Continue reading...Bankruptcy Debt Discharge
18. December 2009
The most common form of bankruptcy is Chapter 7. Bankruptcy debt discharge is essentially when the court officially releases a debtor of being held personally liable to repay debts incurred prior to filing bankruptcy. This occurs within a certain time frame following bankruptcy proceedings. Not all debts [...]
Continue reading...Ways to Reducing Closing Costs
18. December 2009
No one likes closing costs. When you’re purchasing a home that often costs hundreds of thousands of dollars, few things are more annoying than the feeling that you’re mortgage lender is nickel-and-diming you for every fee they can think of. Of course getting a loan will never be free and lenders should be compensated for [...]
Continue reading...Beware of Mortgage Relief Scams
15. December 2009
It seems mortgage problems have been in the news nonstop recently but now consumers have yet another issue of concern. Mortgage scams are on the rise as people desperate to hold on to their homes become victims of unscrupulous scams. Sadly the end result is that homeowners often lose their homes even more quickly. The [...]
Continue reading...Challenges to Traditional Investment Beliefs
15. December 2009
The last few years have been difficult financially and economically for everyone and when you stop and think about it the past decade has had a lot of challenges. The tech bubble burst to start the decade, decimating portfolios that were too heavily exposed to high-flying technology stocks. The attacks on September 11th led to [...]
Continue reading...Do You Know How to Identify Predatory Lending?
11. December 2009
Predatory lending is a term used all the time, but do you know how to identify when it exists? There are many consumers who are lured into loan agreements without realizing they are victims of predatory lending practices. Predatory lending is considered to be unethical and even abusive, yet it continues. Like identify theft, the [...]
Continue reading...Simms Associates, Inc.
11. December 2009
Simms Associates, Inc. is a Delaware Corporation founded by Greg, Jeff, and Brad Simendinger in July 1, 1991. Their business address is 800 Pencader Drive, Newark, DE 19702. Gregory L. Simendinger, President is listed with the Delaware Better Business Bureau as the principal. They are registered as [...]
Continue reading...Five Benefits of Credit Unions Over Banks
11. December 2009
One of the fastest growing types of financial institutions in the U.S. is the credit union. As banks have made headlines highlighting the mismanagement of their loan portfolios and the way their fees negatively impact client returns, many disenchanted bank customers are turning to credit unions for their day to day banking needs. Credit unions [...]
Continue reading...U.S. Government Applying Pressure On Banks
8. December 2009
The U.S. government through the Treasury Department has decided that it‘s time to put some pressure on the banks in the area of mortgages. As most people know, there are millions of consumers unable to make their mortgage payments in a timely manner. Troubled mortgages continue to grow in numbers as more consumers fall behind [...]
Continue reading...Ways to Qualify for Refinancing
8. December 2009
With mortgage rates continuing to hover below 5% for a 30 year fixed-rate mortgage, many homeowners are eager to lock in the low rates in what they view as a rare opportunity. The Fed is doing all it can to keep rates low and support low mortgage to stimulate recovery in the housing market but [...]
Continue reading...4 Words Your Lender Doesn’t Want To Hear
4. December 2009
If you’ve ever applied for a mortgage loan, then you’ve been told how important it is to put your best foot forward when you’re being considered for a sizable loan. It’s never OK to lie on a loan application. Lying to an underwriter is mortgage fraud and it’s one of the fastest growing crimes in [...]
Continue reading...Why A Recession Is The Worst Time To Let Your Credit Score Slide
1. December 2009
Right now, if you are just straining to make your finances work out each month then you are not alone. You may be totally focused on paying your bills, possibly even to the exclusion of other concerns. You need to find ways to pay your bills on time and do everything you can [...]
Continue reading...The Pros and Cons of Low Interest Rates
1. December 2009
For the past 18 months, the headlines have been calling interest rates “historically low” and on the whole they have been. Many people think of interest rates as a static measure of the cost of obtaining financing and the truth is that interest rates are fluctuating all the time. The Fed sets an interest rate [...]
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29. December 2009
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