New Law Affecting Credit Card Interest Rates

The Senate has passed its own version of the new credit card bill and everyone expects that the House and Senate reconciliation will become law within a few weeks. The law goes farther than the new regulations passed by the Fed for mid-2010, and will take effect sooner.

Listed here are the most important benefits:

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Bank Mortgage Regulation Debate May Help Consumers at the End

The Wall Street Journal sees it as a “States Rights” case that will come before the Supreme Court on April 28, 2009.  But it has an unusual twist.  Normally states bring up the States Rights argument against the federal government when the fed wants them to do things (like civil rights, clean air and water) that they do not want to do.

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Posted under debt consolidation, fix bad credit, fix bad debt, mortgage debt

Foreclosure Help Scammers and Their Websites

BLOG on foreclosure prevention came up in an ad next to an email I was preparing in gmail. The ad promised to tell me if I qualified for the president’s mortgage modification program. I clicked through and found some general rules for the program about earnings, etc. I then clicked on something that said it would tell me if I qualified.

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Foreclosure Prevention Program by Obama Administration

(May 2009) - Ask yourself…..How many attempts have we had to provide a foreclosure prevention program that actually works in the United States?  None of them have worked; for a variety of reasons.  But now we have the toughest hang-up of all.  About half of all mortgages in trouble have a second mortgage on the house, either a home equity loan, or a line of credit, or a down payment loan.

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Posted under bankruptcy, debt consolidation, fix bad credit, fix bad debt, foreclosure, mortgage debt