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17 April 2009
The Obama Administration has taken dramatic action to help the U.S.out of its current economic slump.Their mortgage refinance plan, for example, is designed to help people capitalize on low interest rates.However, this loan modification program isn't available for everyone.
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14 February 2009
Cramdown legislation that would allow the bankruptcy court to make loan modifications on behalf of distressed borrowers is a hot topic on Capitol Hill.The saga took a surprising turn recently, when Citigroup broke away from its peers and said it would back the legislation.
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26 January 2009
Fannie Mae has established a mortgage loan modification program to help consumers avert foreclosure at the very first signs of trouble.
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13 December 2008
Major banks, including Citigroup, Wells Fargo, JPMorgan Chase, and Bank of America, recently told the government that the FDIC program to back their bonds is not a strong enough guarantee.They want unconditional support; but the FDIC wants a more regulated and controlled bailout.
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8 December 2008
If you owe more on your home than it's worth-in other words, if you have negative equity or are "upside down" in your mortgage-there may still be hope for solving your problem.The options require sacrifice, but could potentially help you avoid greater financial woes.
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2 December 2008
Increasingly loan modifications are becoming the preferred mechanism to help defaulting homeowners and troubled bank mortgage asset portfolios.All of the major banks, Bank of America, JP Morgan Chase, and Citigroup have announced streamlined loan modification programs.
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1 December 2008
As the holiday season rolls around, few companies seem to be in a festive mood.The bad economy has businesses tightening their purse strings, trimming off superfluous items like traditional holiday parties.Don't let the bad economy be a party-pooper.
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29 September 2008
Many young whippersnappers need a lesson in financial responsibility.Are you one of them?.
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15 September 2008
The FDIC and IndyMac Federal Bank, FS have put their heads together on a loan modification program that will help at-risk borrowers avoid foreclosures.
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2 September 2008
Longevity insurance offers protection against the possibility of outliving your bank account.
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7 August 2008
Time is on your side when it comes to inflation, as long as you have some thoughtful preparation.
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13 July 2008
Choosing where to retire may be the most important decision you'll ever make.Take time to study the possibilities, and you'll never need to look back.
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12 July 2008
Where you choose to live during your post-working days will greatly influence the success of your retirement years.Here are three of the best cities to hang your hat when your coat hook is no longer at the office.
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10 July 2008
You and your spouse are supposed to stick together in sickness and in health, in good times and in bad.Considering those parameters, it would probably behoove you to thoroughly understand each other's finances.
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27 June 2008
Your grown kids have fallen into debt and may need your financial help.Or do they?.
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19 June 2008
If you lose your job due to downsizing, don't worry-as one step in your career path ends, the next one is coming up.
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18 June 2008
It was the best of times, it was the worst of times-to start a small business.
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14 April 2008
Women have come a long way in the last 50 years, but the number of widows living in poverty is still surprisingly high.
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4 April 2008
Parents always want their kids to grow up and be successful.It's even better if that success includes a seven-figure savings account.
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18 March 2008
When celebrities are best known for their roles in bankruptcy court, it's a sure sign that they've made some major financial missteps.
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