Tuesday, April 12, 2011

Home foreclosure mess continues

From the Wall Street Journal:
 

Hopes are fading for a far-reaching settlement between regulators and banks over improper home foreclosures as some regulators press ahead to reach their own settlements with banks that others involved in the talks deem weak.

The dispute pits federal regulators against state attorneys general, who are seeking stiff penalties and comprehensive changes in the way banks foreclose on homeowners and modify loans. Advocates of tougher sanctions accuse federal banking regulators, including the Office of the Comptroller of the Currency and the Federal Reserve, with going easy on the banks.

http://online.wsj.com/article/SB10001424052748703841904576257293887938706.html?mod=WSJ_hps_sections_realestate

NFL players getting raw deal from financial advisors

Check out these super high interest loans that the players are being sold:
http://www.thepostgame.com/features/201104/tpg-exclusive-cash-strapped-nfl-players-seeking-high-risk-lockout-loans

And this is not the first problem that the NFL Players Association's
list of registered financial advisors has failed to solve:
http://buckheadmoney.com/blog/2010/11/03/nfl-players-at-risk-of-financial-roughing/

http://www.sportsbusinessdaily.com/Daily/Issues/2009/03/Issue-133/Leagues-Governing-Bodies/Judge-Dismisses-Claims-From-Former-Nflers-Over-Financial-Advisor.aspx

Friday, April 08, 2011

Confusion Over Credit Scores

For a key to your financial future, $7 to $20 doesn't seem like much to pay – which is why consumers regularly pony up for a peek at their credit scores. Now a new lawsuit suggests that what they're getting may not be worth it.

 

Consumers can now order their credit scores from more than 20 web sites, up from around five just a few years ago. But while consumers tend to think of one, uniform credit score, there are actually seven different scores for sale, each of which relies on its own magic mix of payment history, credit applications, debt and other factors



Read more: Which Credit Score is Best? - SmartMoney.com http://www.smartmoney.com/personal-finance/debt/which-credit-score-is-best-1302212043057/#ixzz1Iwb8P4Oo

Monday, April 04, 2011

Some Banks Pursing Dubious, Aggressive Foreclosure Practices

http://news.yahoo.com/s/yblog_thelookout/20110404/bs_yblog_thelookout/the-foreclosure-mess-isnt-going-away   A secured lender has the right to take the collateral if the loan is not paid.  But questionable legal documents and SWAT team evictions should not be part of the picture.