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By Michelle SingletaryEvery day, consumers pay untold sums to companies that promise a quick credit fix. Most of the time, that money is wasted.I understand why these offers might seem so enticing. Good credit can get you much better interest rates for a car or home loan. A bad credit history can...
The Federal Reserve will do whatever is necessary to prevent damage to the economy from the credit crunch that has gripped Wall Street, a Fed official said Monday, warning it will take time for financial markets to fully recover from the strains. Fed Governor Randall Kroszner's remarks came as fe...
To make their homes more attractive and more affordable to prospective buyers, sellers have options. From a purely financial point of view, the obvious way that comes to mind is to simply lower the asking price. Another way that has been discussed recently in this column is to agree to pay all or...
Payment Abatement -No Payment For Up to 6 Months!The interest abatement program is a feature available on many purchase programs. With payment abatement a special escrow account is set-up to pay a portion or all of the borrower's monthly payment during the first 3 to 6 months the loan is open.Th...
WHAT IS FHASecure?FHASecure is a refinancing option that gives credit-worthy homeowners, who were making timely mortgage payments before their loans reset but are now in default, a second chance with a FHA insured loan product. WHO IS ELIGIBLE Eligible homeowners must meet the following requireme...