Dec 9th, 2008 · Tens of thousands of homeowners in Las Vegas would love to have their mortgage loans modified to reduce their monthly payments. But despite many programs designed to help lenders and borrowers strike a deal, it's not happening quickly enough to stop the rapid erosion of home prices in Las Vegas.
Nov 24th, 2008 · Lenders are tightening their standards for new loans and credit cards, and they're paying close attention to an applicant's credit score. That score, called a FICO score, often determines whether you'll get credit and at what interest rate.
Nov 7th, 2008 · Dublin-based Depfa got into hot water by transforming itself from a small, local lender into a major global enterprise intertwined with financing from Duluth to Dubai. It had an audacious goal: to dominate American municipal finance. Instead, it has jeopardized many public investments.
Nov 7th, 2008 · Every investor dreads margin calls. It's what happens when people borrow heavily against their assets and then see their value plummet, forcing them to sell part of their holdings to pay their lenders. When the market plunged in October, a lot of corporate executives lost chunks of their fortunes to margin calls. But the impact on the economy as a whole is even more devastating.
Nov 4th, 2008 · Over the past four years, tens of thousands of illegal immigrants living in the U.S. have bought homes. Banks which have made these mortgages say in some cases they perform even better than some loans taken out by U.S. citizens. But many lenders are pulling out of this market because of the downturn in the economy and political reactions.
Oct 31st, 2008 · Vehicle repossessions are up 10 percent this year, a result of tough economic times and sky-high fuel prices over the summer. Analysts predict about 1.6 million vehicles around the country will be repossessed in 2008. But much like the trend with home foreclosures, many lenders are trying to avoid repossessing vehicles.
Oct 26th, 2008 · Credit card companies are watching the economy and making pre-emptive moves to reduce the amount of credit they offer to many customers. And they are looking well beyond payment history when reconsidering credit lines. Some companies are looking at who the customers' mortgage lender is, where they shop and whether they live in a region that's been hard hit by foreclosures. Customers are outraged, but card issuers say they are simply managing risk in tough economic times.
Oct 22nd, 2008 · Voters in Ohio are being asked to give the state permission to lower a cap on interest on payday loans to 28 percent. As the industry fights back, many say its ads are confusing voters.