Financial Schools Reviews

The storyline in recent months has been that we are in better financial shape than we were this time last year. While that may be true by some measures, CardHub.com released the Q1 2010 Credit Card Debt Study this week, which revealed that consumers are on track to end up with more debt at the end of 2010 than 2009, despite positive signals in the economy.

The CardHub.com study focused on consumer debt data from the Federal Reserve’s G19 report in conjunction with quarterly charge off data to determine how much of the decline in consumer credit card debt is actually due to consumers paying down their debt versus bad debt being written off. T

Full Article…

Most HAMP modifications will end in a re-default or foreclosure
Most Americans have managed to escape foreclosure and lower their monthly payments by modifying their mortgage loans, providing relief to many families. But most homeowners that received a mortgage modification loan are likely to re-default on their payments within a year, according to a recent report.

A recent Fitch Ratings study reveals that between 65 percent and 75 percent of homes modified through the federal Home Affordable Modification Program, but not backed by a federal agency, are likely to default on their mortgage loans within one year, CNN Money reports. Full Article…

WASHINGTON, June 17 /PRNewswire-USNewswire/ — The following was released today by the U.S. Department of Justice:

Good morning, and thank you all for being here.

Last November, President Obama created the Financial Fraud Enforcement Task Force year to wage an aggressive, coordinated fight against financial crimes. One of the prime focuses we identified at the outset was combating mortgage fraud, and I am joined by several key partners in that fight today: IRS’s Criminal Investigation Deputy Director Sallie Cooper, Special Agent in Charge of the U.S.

Full Article…

The Federal Reserve Board capped late fees on credit card payments.
Consumers that make a late credit card payment are often hit with a big fine and penalty fees, among other things.

But that, according to the Federal Reserve Board, will no longer be legal. The board approved the final rule to protect credit card users from high fees, including those that would exceed the value of the minimum payment.

Regulation Z, which governs “Truth in Lending,” will now prevent credit card companies from charging late fees of more than $25 unless the customer has made repeated violations, the Federal Reserve said. Full Article…

Many people think that individual California health insurance coverage is more expensive than California group health coverage. Also, many people think it’s hard to find individual coverage that offersrehensive  protection.

The reality is that individual California health insurance offers several advantages over group health coverage. Sure, it’d be nice if your employer paid every last dime of your health insurance and dental insurance premium, but that’s getting rarer and rarer. Employers keep shifting more costs onto their employee’s shoulders.

There are several advantages of owning your own health  insurance policy. Wi

Full Article…