Forums: Loan

Hi FReepers, I was reading on FR about a new loan package which featured downpayments as low as 3%. Can anyone help me locate that post, it's author, or a bank participating? Thanks Sisters & Brothers, we'll get through this together guys!

Student loans overtakes credit debtBy Peter Kerwin of RIHEAA Updated: Tuesday, 17 Aug 2010, 10:11 AM EDT (FOX Providence) - A surprising series of reports from the Federal Reserve Bank and an expert who tracks student loan debt suggest came out last week. These reports suggest that for the first time, student loan debt in the United States is actually greater than credit card debt. Here to talk about this development and what it means for students is Peter Kerwin from the Rhode Island Higher Education Assistance Authority . We’ve heard a lot of talk about the staggering levels of...

PITTSBURGH -- One look at Charles Fedunok reveals that he’s alive and well, so he said it came as quite a shock when he went to apply for a car loan on Monday and was told he was dead. Fedunok said that he shares the same name as his father, World War II veteran Charles Fedunok Sr., and lives a stone’s throw away from his old house. But the elder Fedunok died three years ago. "They come back after all the deal and the going back and forth on price and everything and interest rates and they said, ‘Well, you...

Link only - Government Backed Lender Will Impose 7 Year Loan Sanctions on Those Who Strategically Default

NEW YORK (CNNMoney.com) -- More than half of all homeowners with modified mortgages fell at least two months behind in their payments a year after the adjustment was made, according to a federal report released Wednesday. However, the data also shows that modifications made in 2009, which emphasized reduced monthly payments, may perform better. Only 40.7% of loans modified in the second quarter last year were delinquent after nine months, compared to 51.6% of those adjusted at the end of 2008, according to the report, published by the Office of Thrift Supervision and Comptroller of the Currency.

Like many middle-class families, Cortney Munna and her mother began the college selection process with a grim determination. They would do whatever they could to get Cortney into the best possible college, and they maintained a blind faith that the investment would be worth it. Today, however, Ms. Munna, a 26-year-old graduate of New York University, has nearly $100,000 in student loan debt from her four years in college, and affording the full monthly payments would be a struggle. For much of the time since her 2005 graduation, she's been enrolled in night school, which allows her to defer loan...

WASHINGTON — The number of homeowners dropping out of the Obama administration's main mortgage assistance plan is growing, and is now almost equal to the number who have received permanent relief. The Treasury Department's report on Monday was the latest evidence of problems in the administration's $75 billion program. While officials insist the program is helping the housing market turn around, critics say it is merely delaying an inevitable surge in foreclosures. More than 299,000 homeowners had received permanent loan modifications as of last month, Treasury said. That's about 25 percent of the 1.2 million who started the program since...

I implore everyone to watch this ... From the YouTube description: "This General Motors CEO explains a few more detail about how GM repaid their loan in "full with interest."

Uncle Sam gave GM $49.5 billion last summer in aid to finance its bankruptcy. (If it hadn't, the company, which couldn't raise this kind of money from private lenders, would have been forced into liquidation, its assets sold for scrap.) So when Mr. Whitacre publishes a column with the headline, "The GM Bailout: Paid Back in Full," most ordinary mortals unfamiliar with bailout minutia would assume that he is alluding to the entire $49.5 billion. That, however, is far from the case.

Loan Officer Snitches on RegimeApril 20, 2010 BEGIN TRANSCRIPT RUSH: Carol in Olympia, Washington. Welcome to the EIB Network. Nice to have you here. CALLER: Thanks, and mega dittos, Rush -- RUSH: Thank you. CALLER: -- from a truly reformed Democrat. I am an escrow officer, and I close purchases and mortgage loans, and the government is now telling us that the banks, the private sector banks are not allowed to do no-down-payment loans anymore, that a person has to come in with a certain amount because that's what the evil banks have been doing, but the government is doing...