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Will Moody’s Downgrade America’s AAA Sovereign Debt Rating?Things just got a little more interesting in the world of global finance. (As if we needed more excitement on that front.) Moody’s, the credit rating agency, issued a warning today about the sovereign debt of four rather well-known countries:
U.S.
Britain
Germany
France
Yeah, you might have heard of them. These are among the largest Western economies, and considered [...]
What’s So Bad About Falling Home Prices?I read a rather interesting post today from Ramit Sethi’s blog, I Will Teach You To Be Rich. It is about home prices — and how we are kind of backward in our assumption that home prices should always go up. What about getting a good deal? The fact that home prices are lower right [...]
Reader Question: Is It Really Harder to Get a Home Loan Now?Those who have good credit, and plan ahead to save up for a down payment on a home they can afford, shouldn't have too much trouble getting a home mortgage loan.
FDIC to Auction Commercial Real Estate LoansWhen the FDIC declares a failed bank and takes over operation of that bank, it takes on the burdens of servicing loans and other responsibilities. Right now, with 26 banks failed so far this year (as of March 6), and 702 banks on a list of “problem banks” that the FDIC keeps, there are concerns [...]
Buying a Foreclosure? Make Sure the Property Really is CleanRight now, there is a lot of interest in buying foreclosures. There are still quite a few on the market, even though delinquencies are starting to decline. And it is true that you can get a great deal in many cases. My cousin and his wife bought a foreclosure, and it turned out to be [...]
Reader Question: How Do I Know If I Can Afford a Mortgage Payment?In this climate, with low home prices and low interest rates (not to mention a tax credit), it is little surprise that first time home buyers are out in force, looking for opportunities. Mortgage applications are on the rise as would-be home owners look for bargains. But the house hunt brings up all new questions [...]
Mortgage Applications IncreaseIndeed, if you can, you might be advised to refinance. You can get a shorter term, and save even more money over the long run. I myself plan to refinance this year, looking for a good mortgage rate, and a shorter loan term.
IRS Payment Plan: Do You Still Get a Refund?As a condition of your installment agreement, any refund that you should receive in the future will be applied against the amount that you owe. In other words, you are not going to receive any money. Instead, the IRS will take it and put it towards what you owe.
Hidden Debt Could Balloon Federal DeficitWe know that the federal deficit is ballooning at a rather scary pace. However, the growing debt that we see is only a part of the picture. There is probably more debt to come as we work to get out of our financial mess, and as the government has to deal with the burdens placed upon it.
AIG Loss of $9 BillionInsurance giant AIG reported a 2009 fourth-quarter loss of $9 billion, leading to speculation that there is plenty of work to be done on the financial sector front.
