Archive for the ‘Uncategorized’ Category

Bad credit card debts at `historic high`

November 12th, 2009 admin No Comments »

According to a report by means of accountancy firm PricewaterhouseCoopers (PwC), card debts may account for as much as 9% of all outstanding balances by the end of 2010.

Bad credit card debts currently represent around 6% of all outstanding balances. And although the amount of credit cards in circulation has fallen by 8%, the stable said that debt levels in the UK remain `high compared with the rest of Europe`.

The firm expects borrowing rates on credit cards to increase as the level of bad debts rise, and annual fees to `become a for the use of all feature`.

In its new report, Precious Plastics, PwC said that each household in the UK has – on average – a total debt of around 60,000, made up of roughly 50,000 of secured debt and 10,000 of unsecured fault such as credit card debt.

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Tags: Card Debts, Credit Card, Credit Card Debts, Debts

Stockton Foreclosed Homes for Sale: 69 Percent of Home Sales

November 11th, 2009 admin No Comments »

Stockton foreclosed homes for sale accounted for more than 69 percent of all house sales in September, according to a real estate firm.

Despite a slowdown in foreclosure in the third quarter by more than 3 percent compared to the same period last year, defaults and foreclosures are still high in the city. A total of 8,000 residential units were notified of foreclosure actions, representing 3.5 percent of all housing units in Stockton or one in every 28 units.

Stockton, considered the face of the first wave of foreclosures, is still fourth in a rank of large metro areas hit by foreclosures.

Other cities where foreclosure sales comprised the majority in September were Merced, Madera, El Centro and Las Vegas.

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Tags: 69 Percent, Foreclosed Homes, Sales, Stockton Foreclosed Homes

Quicken Loans Capital Markets Update – Initial and Continuing Jobless Claims Falling

November 11th, 2009 admin No Comments »

Quicken Loans Capital Markets Update for November 12, 2009

Treasury prices are a bit higher this morning ahead of this afternoon’s 30-year government bond auction. This is the government’sitting third of that kind auction this week and each of the previous sales has been met with strong demand.

Initial Jobless Claims and Continuing Claims came in better than expected at 502,000, with Continuing Claims falling to 5.6 million.

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Tags: Capital Markets, Capital Markets Update, Markets Update, Update

Amidst Foreclosures – Fraudsters Have a Gala Time

November 10th, 2009 admin No Comments »

Times are tough in the US. As the economy spins out of control, people are losing jobs. As unemployment peaks, people are faltering on mortgage payments. Hence, foreclosures have become common. As homeowners are set to lose properties there is a sense of desperation to cling on to homes – a tricky situation that has spawned fraud. These fraudsters are promising a life out of the misery. They are assuring people of mortgage modification, of course, in exchange for a fee.

Now a father-daughter duo has been sentenced to imprisonment in a fraud case. Forty eight year old Clifford McCall of Maryland and Chandra Jones have been sentenced to prison for a wire fraud. They had promised to help homeowners in modifying mortgage. T

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Tags: Gala Time, Time

Why You Could Be Paying More with Your Rewards Credit Card

November 9th, 2009 admin No Comments »

Despite the economic crisis, credit cards with rewards continue to enjoy huge popularity among consumers. Obviously, people are still attracted to the idea that they can get rewarded or that they can enjoy savings and special privileges that are not offered by non-reward credit cards. But before applying for a reward credit card, let’s talk about essential points every cardholder must consider.

Higher Fees of Credit Cards with Rewards

Generally, credit cards with reward programs carry higher interest rates, higher annual fees, and higher penalty fees than non-reward credit cards. With enlist rates ranging from 14% to as much as 19% and annual fees ranging from $50 to $100, you can easily imagine how costly it would be to maintain a credit card with rewards. I

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Tags: Card, Credit Card

Better trading for mortgage lender Northern Rock

November 4th, 2009 admin No Comments »

Mortgage lender Northern Rock claimed today that its prospects are improving despite an increase in the number of customers who have fallen into mortgage arrears . The bank, what one. will be split up after being nationalised last year, reported an upswing in mortgage lending .

The government recently allowed Northern Rock to build up its mortgage book again, and as a result mortgage loans have increased by some 1 billion pounds. Chief executive of the mortgage lender, Gary Hoffman, was reported in mortgage news as commenting: “I am encouraged by the improving financial performance of the company. Today’s results demonstrate that we are continuing to make good progress.”

However, 4.11% of customers have fallen behind in mortgage payments . Full Article

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Tags: Lender Northern, Lender Northern Rock, Northern Rock, Rock

San Jose Foreclosed Homes for Sale Dominate the Market

November 4th, 2009 admin No Comments »

Home sales in Santa Clara County, California rose 17 percent last month and San Jose foreclosed homes for sale are credited for this positive trend. According to industry experts, the 17 percent increase in home sales activity in September compared to the same month a year ago, is attributed to first time buyers who take advantage of the $8,000 federal tax credit and cheap foreclosure homes.

The rise in home sales in the area is reflected in some places across the country. The recent activity in the housing market is helped first time homebuyers and cash-rich investors who find bargain-priced foreclosure homes good investments.

Meanwhile, the median home price dropped almost 2 percent in September compared with figures in August.

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Tags: Foreclosed Homes, Jose Foreclosed, Jose Foreclosed Homes, Sale

Foreclosure Properties Moving to Suburbs

November 3rd, 2009 admin No Comments »

For the past years, foreclosures properties were a problem plaguing inner cities in Illinois, mostly in low-income neighborhoods. But this year showed a worsening trend as foreclosures spread to middle-class communities in suburban areas.

Industry experts attributed the unabated spread of foreclosures not just in Illinois but across the country to the growing unemployment rate. In October, about 200,000 people lost their jobs, the smallest monthly unemployment figures for the year.

Experts said that if people lost their source of income, it follows that they could not afford to pay their utilities and mortgages, thus resulting to more foreclosure properties.

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Tags: Foreclosure Properties, Properties
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