Some financial planners advise making two half payments on your mortgage each month instead of one full sum. The idea is that homeowners will save thousands of dollars over the years in interest payments. Does this idea hold water? Finance blog The Simple Dollar posits that, assuming your lender allows you to split your...
Washington, D.C. – March 9, 2010 – (RealEstateRama) — Speaker Nancy Pelosi released the following statement today on the Treasury Department’s allocation of $700 million to California’s housing finance agency under the President’s most recent $1.5 billion initiative to prevent foreclosures in the five hardest hit states. “Today’s announcement is a step in the...
Targeting California and the four other states hardest hit by the housing crisis, President Obama on Friday offered a $1.5 billion “innovation fund” to devise solutions for homeowners struggling against foreclosure. “What we can do is help families that have done everything right to stay in their homes,” Obama said at a town hall...
Skyrocketing premiums have stunned some consumers who buy their own health insurance policies. People in several corners of the country are facing increases of 20 percent or more from some insurers. Congress has asked the largest health insurer, WellPoint Inc., to testify about rate hikes of up to 39 percent for its Anthem Blue...
Will these 10 firms’ high default ratios wind up costing taxpayers a bundle? If you read the news everyday, you’ve probably seen more and more headlines like these in recent months: “Government Shuts Down Troubled Mortgage Firm” and “HUD Probes High-Default Lenders.” Such language might lead you to believe that the feds are weeding...
On Saturday, I wrote a post containing some ideas to make principal reductions more palatable to banks. Right now, banks want nothing to do with them, mostly because they don’t want to declare big, immediate losses. I’ve subsequently gotten several comments and e-mails about what I proposed. I want to clear a few things...
Consumer Watchdog says Anthem violated California’s health and safety code when it closed policies to newcomers and offered remaining customers alternative plans with fewer benefits at higher rates. A consumer group sued Anthem Blue Cross on Monday, accusing California’s largest for-profit health insurer of violating state law by closing certain policies to new members...
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