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Federal law considered to halt unfair mortgages
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The concern over predatory lending has heightened as more consumers with marred credit turn to so-called subprime mortgage loans. Subprime loans carry a higher cost than traditional mortgages because a borrower with a sullied credit record is considered at greater risk not to repay.
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Good credit score nets best loan rate
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There are different home loan interest-rate tiers based on your consumer credit score, so making sure your consumer credit score is as high as it can possibly be gives you your best shot at the lowest possible rate.
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Credit card industry takes some heat
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U.S. senators Tuesday criticized the credit card industry for unfair practices and for failing to disclose account information to consumers in a clear, understandable way.
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Mortgage choices meet consumer demands
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Options for financing the purchase of a home are more varied than ever. And home buyers are taking advantage of the increased flexibility to structure a loan that best suits their needs. Today's buyers have many additional choices that their parents and grandparents lacked
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Bankruptcies reach another record
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The number of bankruptcies was 24.5% higher than a year ago and up 2.8% on the previous quarter. Worries about debt levels have been growing and accountants KPMG said a 'black cloud of debt' hung over the UK.
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Family finances: Keys to building wealth
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When it comes to building wealth, it's too easy to get blindsided because you and your spouse probably spend most of your days working.
But if you're focusing strictly on income, you and your family could be missing the boat, warns David Buchholz, director of applied research for the nonprofit CFED (Corporation for Enterprise Development), Washington, D.C.
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Fed rate boosts to continue at measured pace
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The Fed has now raised rates eight times since June 30, 2004.
The result? Consumers can bank on paying even more when they borrow to buy cars and trucks, run up credit card debt and tap into home equity lines of credit.
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Identity Theft: When employers lose personal information
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Millions of employees and consumers have gotten some unwelcome news in 2005. They were told that their personal information was lost or had been stolen.
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Schools to push financial literacy
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State officials yesterday unveiled a voluntary financial literacy initiative aimed at teaching high school juniors and seniors the basics of budgeting, saving, credit cards, and insurance.
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Twentysomethings need to plan for their future
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A recent survey of MetLife clients and employers found that 40 percent of workers ages 21 to 30 had not begun to save for retirement - and many young adults have little clue how to even begin doing so.
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Home equity can be a rich resource to tap — but do it wisely
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Home equity lines of credit, which allow homeowners to borrow against their homes at favorable interest rates. In 2004, home equity borrowing rose 35% to $431 billion, according to SMR Research, a market-research firm.
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