Word: mortgagee
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The lone exception is housing. Mortgage brokers say it is still hard for individuals with bad credit to get home loans. The subprime home loan market peaked in 2005, according to the publication Inside Mortgage Finance. That year, thousands of lenders and mortgage brokers handed out $625 billion in mortgages...
"We're back to where the subprime market started out 25 years ago," says Inside Mortgage Finance's publisher, Guy Cecala. "If you can't put 30% down on your house, you're not going to get a loan."
Spitzer built his career on a reputation for integrity. That the reality of his conduct was more complicated - the famously violent temper, the time wasted in petty turf wars with state legislators - hardly mattered. He spent eight years as attorney general of New York and became known as a defender...
The biggest reason for the change in customers' credit behavior has to do with falling housing prices. For a long time, a house was the largest asset of most people. But according to a recent study from housing-value tracker Zillow.com, about 20% of all homeowners are now underwater on...
The new credit-card regulations, widely known as the CARD Act, could tilt the priorities of borrowers even more toward credit cards. Lenders used to be able to cancel a customer's credit card if they defaulted on their mortgage. Now, under the act, lenders are not allowed to raise...