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People with a bad credit score might be thinking if they could get quick cash through the payday loans.The fact is that payday loan lenders give loans that need no credit check.They are called as the no teletrack payday loans.These loans are ...

No teletrack payday loans - Loans with No credit check - HULIQ.com

BANKERS will no longer be richly rewarded for taking excessive risks under sweeping reforms to be unveiled by the Treasury later this month. The culture of risk-taking is often cited as one of the causes of the credit crunch. The reforms, designed to ...

BANKERS TARGETED IN PAY CRACKDOWN - Daily Express

In retrospect, all the signs were there. But six months ago, back in July 2009, no one actually guessed that Peter Mandelson was about to become Labour's seventh prime minister. The suggestion had been doing the rounds at Westminster, of course, as ...

How Mandelson shrugged off his ermine to take control of the country - The Guardian

THE strength of the Australian housing market and the bounce-back in indicators such as consumer and business confidence give the impression that Australia has dodged the bullet that felled the major advanced economies between September last year and ...

We need to save more as economic imbalances remain - The Australian

NEW YORK (AP) — Treasury prices moved higher Wednesday as investors sought safety in the wake of a discouraging labor market report. The rise in prices pushed yields lower, which is good news for consumers. Yields on long-term Treasurys are closely ...

Treasurys rise, pushing yields lower, as investors flock to government ... - Newsday

WASHINGTON — Here's where things stand with the longest recession since the Great Depression: The good news is that economists are revising forecasts, expecting an imminent return to growth. The bad news: The growth may not be sustainable, and the ...

Analysts: Economy to expand weakly, but growth may not last - Centre Daily

On seekingalpha.com's comments board, I've written that investors who invested directly with Madoff ought to get their original investment back from the SIPC, but nothing more. Feeder fund investors who invested indirectly with Madoff should look to ...

The Congressional Bailout of Madoff's Investors - Seekingalpha.com

Thursday’s US labour market report wasn’t pretty by any standard. The 467,000 June decline in payrolls, up from 322,000 in May, broke a four-month improving trend. Stock market investors made the worst of the bad news. The S&P 500 and the Dow ...

Stock market investors keen to make the worst of the bad news - Daily Telegraph

It is not the current sub-prime crisis that haunts the dreams of Tryon Federal Bank’s managers. For the savings and loan industry, that wake-up-sweating moment played out 27 years ago, in 1982, when the prime interest rate spiked to 20.5 percent ...

Small town banking: Tryon Federal in 'right position for the times' - Tryon Daily Bulletin

All of a sudden we are bombarded with daily reports of a credit crunch and wild securities market fluctuations with mortgage and sub-prime lending at the root. What does it all mean? Much of what happens in securities markets is neither rational nor ...

Resolved Question: What do you think about this article?

This professor has hit a bullseye with this.... History Unfolding I am a student of history. Professionally, I have written 15 books on history that have been published in six languages, and I have studied history all my life. I have come to think there is something monumentally large afoot, and I do not believe it is simply a banking crisis, or a mortgage crisis, or a credit crisis. Yes these exist, but they are merely single facets on a very large gemstone that is only now coming into a sharper focus. Something of historic proportions is happening.. I can sense it because I know how it feels, smells, what it looks like, and how people react to it.. Yes, a perfect storm may be brewing, but there is something happening within our country that has been evolving for about ten to fifteen years. The pace has dramatically quickened in the past two. We demand and then codify into law the requirement that our banks make massive loans to people we know they can never pay back? Why? We learned just days ago that the Federal Reserve, which has little or no real oversight by anyone, has "loaned" two trillion dollars (that is $2,000,000,000,000) over the past few months, but will not tell us to whom or why or disclose the terms. That is our money. Yours and mine.. And that is three times the $700 billion we all argued about so strenuously just this past September. Who has this money? Why do they have it? Why are the terms unavailable to us? Who asked for it? Who authorized it? I thought this was a government of "we the people," who loaned our powers to our elected leaders. Apparently not. We have spent two or more decades intentionally de-industrializing our economy. Why? We have intentionally dumbed down our schools, ignored our history, and no longer teach our founding documents, why we are exceptional, and why we are worth preserving. Students by and large cannot write, think critically, read, or articulate. Parents are not revolting, teachers are not picketing, school boards continue to back mediocrity. Why? We have now established the precedent of protesting every close election (violently in California over a proposition that is so controversial that it simply wants marriage to remain defined as between one man and one woman. Did you ever think such a thing possible just a decade ago?) We have corrupted our sacred political process by allowing unelected judges to write laws that radically change our way of life, and then mainstream Marxist groups like ACORN and others to turn our voting system into a banana republic. To what purpose? Now our mortgage industry is collapsing, housing prices are in free fall, major industries are failing, our banking system is on the verge of collapse, social security is nearly bankrupt, as is medicare and our entire government. Our education system is worse than a joke (I teach college and I know precisely what I am talking about) - the list is staggering in its length, breadth, and depth.. It is potentially 1929 x ten... And we are at war with an enemy we cannot even name for fear of offending people of the same religion, who, in turn, cannot wait to slit the throats of your children if they have the opportunity to do so. And finally, we have elected a man that no one really knows anything about, who has never run so much as a Dairy Queen, let alone a town as big as Wasilla , Alaska . All of his associations and alliances are with real radicals in their chosen fields of employment, and everything we learn about him, drip by drip, is unsettling if not downright scary (Surely you have heard him speak about his idea to create and fund a mandatory civilian defense force stronger than our military for use inside our borders? No? Oh, of course. The media would never play that for you over and over and then demand he answer it. Sarah Palin's pregnant daughter and $150,000 wardrobe is more important.) Mr. Obama's winning platform can be boiled down to one word: Change. Why? I have never been so afraid for my country and for my children as I am now. This man campaigned on bringing people together, something he has never, ever done in his professional life.. In my assessment, Obama will divide us along philosophical lines, push us apart, and then try to realign the pieces into a new and different power structure. Change is indeed coming. And when it comes, you will never see the same nation again. And that is only the beginning.. As a serious student of history, I thought I would never come to experience what the ordinary, moral German must have felt in the mid-1930s. In those times, the "savior" was a former smooth-talking rabble-rouser from the streets, about whom the average German knew next to nothing. What they should have known was that he was associated with groups that shouted, shoved, and pushed around people with whom they disagreed; he edged his way onto the political stage through great oratory. Conservative "losers" read it right now. And there were the promises. Economic times were tough, people were losing jobs, and he was a great speaker. And he smiled and frowned and waved a lot. And people, even newspapers, were afraid to speak out for fear that his "brown shirts" would bully and beat them into submission. Which they did - regularly. And then, he was duly elected to office, while a full-throttled economic crisis bloomed at hand - the Great Depression. Slowly, but surely he seized the controls of government power, person by person, department by department, bureaucracy by bureaucracy. The children of German citizens were at first, encouraged to join a Youth Movement in his name where they were taught exactly what to think. Later, they were required to do so. No Jews of course, How did he get people on his side? He did it by promising jobs to the jobless, money to the money-less, and rewards for the military-industrial complex. He did it by indoctrinating the children, advocating gun contro As a practical thinker, one not overly prone to emotional decisions, I have a choice: I can either believe what the objective pieces of evidence tell me (even if they make me cringe with disgust); I can believe what history is shouting to me from across the chasm of seven decades; or I can hope I am wrong by closing my eyes, having another latte, and ignoring what is transpiring around me.. I choose to believe the evidence. No doubt some people will scoff at me, others laugh, or think I am foolish, naive, or both. To some degree, perhaps I am. But I have never been afraid to look people in the eye and tell them exactly what I believe-and why I believe it. I pray I am wrong. I do not think I am. Perhaps the only hope is our vote in the next elections. David Kaiser Jamestown , Rhode Island United States health care for all, better wages, better jobs, and promising to re-instill pride once again in the country, across Europe , and across the world. He did it with a compliant media - did you know that? And he did this all in the name of justice and ...... .. .. change. And the people surely got what they voted for If you think I am exaggerating, look it up. It's all there in the history books.. So read your history books. Many people of conscience objected in 1933 and were shouted down, called names, laughed at, and ridiculed. When Winston Churchill pointed out the obvious in the late 1930s while seated in the House of Lords in England (he was not yet Prime Minister), he was booed into his seat and called a crazy troublemaker. He was right, though. And the world came to regret that he was not listened to. more

Voting Question: Do I have bad credit? I'm in college this is my story.?

I am a canadian permanent resident. Moved here 3 years ago. Will apply for citizenship soon. 2 years ago i got into university. On the first week I got lured in by a credit card company and imediately spent my $600 limit. I made a couple of payment but havent touched it since. Not long after I got another card, but only used it this decemer. Havent payed a dime. I also have around 15000 in student loan (OSAP) which I intend to not start paying since I am going back to school after a term away. I got a few collection calls which i ignored, but for a long time havent got mail or calls since I moved to a diff place. I finaly changed my mailing adress and got a statement from the first card which says more or less: "You have not payed, we cancelled your card and all privileges. Please contact us and pay imediately. I REALLY HAVE LEARNED MY LESSON. My credit card debt is my #1 priority right now. My financial situation is much better, so I will be able to start making payments soon. I have ignored this for so long I am just learning where to start getting out of this mess. ***Can anyone give me suggestions/opinions? ***Am I sure to have bad credit already? ***How bad? ***How permanent? ***Also, how will this affect my citizenship? ***I am going to Europe for a couple of months this summer - will this be enough to affect my travelling? Ps: I'm not going on a vacation while I'm in debt. This is a trip I have not the option of avoiding. Thank you guys more

Resolved Question: When will this banking and credit crisis end? Is the worst over or yet to come?

this is absolutely insane that's all I'm saying. I've had numerous cards where my credit limits were slashed, one card where they're telling me that I can enroll in a program and I get a reduced APR for a whole year!!!..yeah...if I can reduce my card balance by 60%, and also by doing that, they'll slash my credit line about 60% as well to the new balance. LOL. Why would people WANT to willingfully enroll in programs like that? Besides if they want to reduce a person's credit line so bad, why don't they just force it? NOt send you a letter disguising it as a cool program or something. it's ridiculous. Also I had one small and one larger personal loan from a bank, and they just reduced my terms from like 8 years ish to 5 just like that. Everything is going crazy and they're slashing limits, reducing terms, jacking interest rates to unbelievable amounts....I have two cards with chase which used to be at 12.99%, and that was with WAMU, which is now becoming Chase and now they're lo and behold, 29.99%. LITERALLY. how crazy is that? the card which is offering the ret@rted program is citicards. I just can't believe how unfair and unbelievable banks are becoming. How much longer do we as consumers have to put UP with this? How much longer will they literally abuse us with all of this financial slashing years, lines, jacking interests, etc? Are we going to see it continuously and indefinitely...have we seen the worst, or is the worst yet to come? This is just unbelievable because I'm a young guy in my 20s and I'm starting to establish credit and just starting out in life, and a few years ago everything was great, then...this happened. It's depressing. more

Voting Question: What happens to my old bad debt - long term?

Like other I have lost my house. I have a refinanced (non-purchase money) loan balance of about 150k through National City. They have tried to settle of 30k recently, which I am still unable to meet being a regular joe. Assuming they decided no to sue and I don't settle. What happens to this debt in the long run 2..5..10 years from now. At what point will it drop off my credit report and allow me to start rebuilding my score (which was perfect before this all happened)? more

Voting Question: What are the Technical degrees most wanted by the Air Force?

My husband just finished his associates in CNS. And he is now getting his Bachelors in Network security. He really wants to join the Air Force as an officer after that.He will be 29 years old when he has his Bachelors and his GPA right now is 3.8. I have heard they like engineering degrees but what about computer/network security? p.s. anything you can tell me about joining as an officer in our situation would help. We have 2 kids and have bad credit because of forclosure and losing our business in Michigans bad economy. But we did what we could by him immediatley joining school and continuing to work full time. We moved to San Antonio because we thought there were better opportunities here. Also, will he be able to go to school part time for his masters ?(it doesnt matter to us if they pay or not) He already has over 100k in private and technical school loan debt. He can't be out of school for more than 6 mos. Or he has to start paying his loans back. So how soon after joining as an officer could he take at least 2 courses towards his Masters? Our long term goal is to have a rewarding career where we can live small and pay off our student loans ASAP. Thanks. more

Resolved Question: Have You Ever Read A More Succinct / Accurate Description Of How We Ended Up In This Economic Quagmire?

If you are one of the few on these boards who care about learning things, like where the country, Wall Street, the Banks, etc went wrong and put us where we are, read these few paragraphs by Harvard Prof and Congressional Oversight personage (too bad she wasn't in that position years ago) Elizabeth Warren, and then tell us if you have ever read a better synopsis of what went wrong, and how? If you have, please point all the rest of us to it. “Okay, young country. George Washington's in his first term and we have a credit freeze. There's a financial panic. Every 10 to 15 years, there's a financial panic in our history - you can just look at it. There's a big collapse, big trouble and people lose their farms - wiped out. Until we get to The Great Depression. We come out of The Great Depression and we say 'you know, we can do better than this. We don't have to go back to this kind of boom and bust cycle.' We come out of The Great Depression with three regulations: [the Federal Deposit Insurance Corporation], it's safe to put your money into banks. [The Glass-Steagall Act], banks won't do crazy things. And some SEC regulations. We go 50 years without a financial panic, without a crisis.” She continued: “Then what happens is we say 'regulation, ah that's a pain, it's expensive. We don't need it.' So we start pulling the threads out of the regulatory fabric. And what's the first thing we get? We get the [savings and loan] crisis. Seven hundred financial institutions fail. Ten years later, what do we get? Long Term Capital Management, where we learn that when something collapses one place in the world it collapses everywhere else. Early 2000s we get Enron, which tells us the books are dirty. And what is our repeated response? We just keep pulling the threads out of the regulatory fabric. more

Resolved Question: How do get short term car loan with very bad credit?

well i need a $10,000 loan for a car i want. im now making $1900 a WEEK after taxes, and would pay the loan off in 6 weeks, who can help me, this car wont last long? credit is not really an option im filing bankruptcy very soon more

Resolved Question: Is This What We Have To Look Forwarded To?

Scary Food for thought. Forward to all thinking Americans. This is long, but enlightening. Lest you think it was written by some right-wing kook, David Kaiser is a respected historian whose published works have covered a broad range of topics, from European Warfare to American League Baseball. Born in 1947, the son of a diplomat, Kaiser spent his childhood in three capital cities: Washington D.C., Albany, New York, and Dakar, Senegal. He attended Harvard University, graduating there in 1969 with a B.A. in history. He then spent several years more at Harvard, gaining a PhD in history, which he obtained in 1976. He served > in the Army Reserve from 1970 to 1976. He is a professor in the Strategy and Policy Department of the United States Naval War College and has previously taught at Carnegie Mellon, Williams College and Harvard University. Kaiser's latest book, The Road to Dallas, about the Kennedy assassination, was just published by Harvard University Press. Dr. David Kaiser "My friends, we live in the greatest nation in the history of the world. I hope you'll join with me as we try to change it." - Barack Obama History Unfolding I am a student of history. Professionally, I have written 15 books on history that have been published in six languages, and I have studied history all my life. I have come to think there is something monumentally large afoot, and I do not believe it is simply a banking crisis, or a mortgage crisis, or a credit crisis. Yes these exist, but they are merely single facets on a very large gemstone that is only now coming into a sharper focus. Something of historic proportions is happening. I can sense it because I know how it feels, smells, what it looks like, and how people react to it.. Yes, a perfect storm may be brewing, but there is something happening within our country that has been evolving for about ten to fifteen years. The pace has dramatically quickened in the past two. We demand and then codify into law the requirement that our banks make massive loans to people we know they can never pay back? Why? We learned just days ago that the Federal Reserve, which has little or no real oversight by anyone, has "loaned" two trillion dollars (that is $2,000,000,000,000) over the past few months, but will not tell us to whom or why or disclose the terms. That is our money. Yours and mine. And that is three times the $700 billion we all argued about so strenuously just this past September. Who has this money? Why do they have it? Why are the terms unavailable to us? Who asked for it? Who authorized it? I thought this was a government of "we the people," who loaned our powers to our elected leaders. Apparently not. We have spent two or more decades intentionally de-industrializing our economy. Why? We have intentionally dumbed down our schools, ignored our history, and no longer teach our founding documents, why we are exceptional, and why we are worth preserving. Students by and large cannot write, think critically, read, or articulate. Parents are not revolting, teachers are not picketing, school boards continue to back mediocrity. Why? We have now established the precedent of protesting every close election (violently in California over a proposition that is so controversial that it simply wants marriage to remain defined as between one man and one woman. Did you ever think such a thing possible just a decade ago?) We have corrupted our sacred political process by allowing unelected judges to write laws that radically change our way of life, and then mainstream Marxist groups like ACORN and others to turn our voting system into a banana republic. To what purpose? Now our mortgage industry is collapsing, housing prices are in free fall, major industries are failing, our banking system is on the verge of collapse, social security is nearly bankrupt, as is medicare and our entire government. Our education system is worse than a joke (I teach college and I know precisely what I am talking about) - the list is staggering in its length, breadth, and depth.. It is potentially 1929 x ten... And we are at war with an enemy we cannot even name for fear of offending people of the same religion, who, in turn, cannot wait to slit the throats of your children if they have the opportunity to do so. And finally, we have elected a man that no one really knows anything about, who has never run so much as a Dairy Queen, let alone a town as big as Wasilla, Alaska . All of his associations and alliances are with real radicals in their chosen fields of employment, and everything we learn about him, drip by drip, is unsettling if not downright scary (Surely you have heard him speak about his idea to create and fund a mandatory civilian defense force stronger than our military for use inside our borders? No? Oh, of course. The media would never p more

Resolved Question: A fast cash solution needed for genuine purposes. . . .?

I've recently had a great deal of worries regarding income's and outcomes in the financial dept and feel i'm getting deeper which is not ideal for my health, both mentally and physical, hence the reason for which i'd regard as drastic as in to share this issue with the world. Working is not an immediate solution due to depression which often end's in alcoholism relapses . Then in most relapses, that can last for months lead's me to a short and somewhat painful spell in hospital. No advice needed in my health matters thanks , on top of these and achieving short term goal's ; work is unfortunately a long term goal . . . So any advice thankfully welcome and appreciated. I've not helped my now bad credit rating following absent payments that are snowballing. . . .wow . . . so secured loan's not a chance, and unsecured loan's could have me chasing my tail with added high interest. Chelle x x x more

Resolved Question: Is the American dream dead?

There is a chill wind blowing across this land of ours. People are losing faith in their ability to realize the American dream. While AIG pays out $165 million in bonuses to people who arguably contributed to the need for the federal government to hand them $170 billion of our money, and while politicians lie about who crafted the language that allowed this kind of stuff to happen the average American is seeing his future disintegrate in front of his eyes. Here are some numbers that suggest we are losing hope: A CNN-Opinion Research Corp. poll shows 39 percent of those surveyed say they're very confident they'll be able to keep up their quality of life. That's down from 45 percent a year ago. Fifty percent of homeowners with a mortgage say they're very confident they can keep making their house payments. Again, that's down from 58 percent a year ago. Also down are the percentages of Americans who are confident they can pay their other debts, things like credit cards and car loans. When it comes to saving for long-term goals, it's even worse. Only 24 percent of parents say they're very confident they'll be able to pay to send their children to college, and only 22 percent of those who are still working think they'll be able to save enough for retirement. This used to be the country where each succeeding generation could look forward to a better quality of life than their parents enjoyed. In the meantime, as the federal government continues to print money that isn't worth the paper it's written on and as our national debt soars past $11 trillion, a United Nations panel is set to recommend that the world ditch the U.S. dollar as its reserve currency in favor of a shared basket of currencies. One of the enduring strengths of the dollar has been that it has always been the currency of choice in times of crisis. But that's not the case anymore. Our ballooning deficits have driven down the value of the dollar so much that the Chinese government recently asked for guarantees from Washington that the Treasury bills they own are safe. All of this isn't lost on the average American. Last week there were protests and demonstrations by taxpayers in cities all around the country who are beginning to object in increasing numbers to runaway government spending, taxes, bailouts and our growing national debt. These protests were called tea parties. Has a familiar ring to it, doesn't it? So is the American dream dead....What's your thought... Source: http://www.cnn.com/2009/POLITICS/03/24/cafferty.economy/index.html?eref=rss_mostpopular more

Voting Question: How does foreclosure in Ohio work?

To keep a long story short, The poor economy has hurt our long term plans and now we are looking into foreclosure of our home in Ohio. Our credit is already pretty bad, probably around 500 right now. Anyway, I've read that foreclosure in Ohio has laws in place that favor banks. I'm basically wondering what the repercussions would be if we decided to foreclose on our home. Would we be excused from the loan and just have a worse credit rating? Would we be able to get a new place in a year in a different state? Would we still owe a portion? Thanks in advance! more

Resolved Question: Do you know why printing more money may not decrease the dollar and may be the best thing for the economy?

I know its hard for people without an economic back ground to understand why printing money may not devalue the dollar or increase inflation. Applying micro economic examples that is how you run your house hold accounts to macro economics just doesnt work The US economy is very weak. Gross domestic product fell heavily in the December quarter and is likely to have fallen further in the present quarter. This week the US Federal Reserve's open market committee met and decided it wanted to ease monetary policy further so as to stimulate borrowing and spending (demand). There was just one problem. It had already reduced its official interest rate (the federal funds rate) essentially to zero. And once interest rates are at zero they can't go any lower. So the Fed announced its intention to buy up to $US300 billion ($440 billion) worth of longer-term US Treasury bonds over the next six months. It would buy bonds that had already been issued and it would pay for them simply by depositing money in the accounts of the banks from which it bought the bonds (or, if the seller wasn't a bank, it would credit the seller's bank's account with the central bank, and then the bank would credit its customer's bank account). In other words, it would pay for the bonds by creating money out of thin air - something only a central bank can do. It would be the modern equivalent of printing $US300 billion worth of bank notes. Early this month the Bank of England's monetary policy committee decided to cut its official interest rate to just 0.5 per cent, but also to purchase £75 billion ($160 billion) worth of government bonds over the next three months. The purchase would be covered by "the creation of central bank reserves" (no prize for guessing what that means). .The Fed's big purchases of long-term government bonds will put upward pressure on the prices of those bonds, thus automatically forcing down their yield (interest rate). in America and some other countries, most home loans are at rates fixed over the 25 or 30-year life of the loan. This means the interest rate charged on home loans tends to vary in line with long-term government bond rates. This, in turn, means that mortgage interest rates haven't fallen all that much in the US, even though the Fed has slashed its official interest rate to zero. So people with home loans haven't had much relief (which they get by renegotiating their existing home loans, something they can do without penalty) and home loans haven't become much more affordable to new borrowers. But now, you see, the Fed's purchase of long-term bonds will, by forcing down the yields on such bonds, have the effect of lowering mortgage interest rates. This will be the main stimulatory effect of the quantitative easing, and that's exactly why it was done. This week the Fed also announced its intention to purchase up to $US100 billion worth of the bonds issued by Freddie Mac and Fanny Mae and up to $US750 billion worth of mortgage-backed securities that had been guaranteed by those two government agencies. These purchases will "increase the size of the Federal Reserve's balance sheet" - that is, they too will involve the equivalent of printing money. And their objective is the same: "to provide greater support to mortgage lending and housing markets". But why won't all this extra money in circulation add to inflation? Well, in normal times it would. Extra money should add to nominal demand and when the demand for goods and services isn't far apart from the supply of goods and services that should put upward pressure on the prices of goods and services. But these are far from normal times. America, Britain and the world are in a severe recession, one so bad the International Monetary Fund has dubbed it the Great Recession. So demand in these countries is very weak and falling far short of supply - which is why unemployment is shooting up and factories have much spare capacity - meaning the risk of price rises is low. Indeed, the big worry in these countries at present is the very opposite of inflation, the risk of deflation. Deflation means widespread and continuing falls in prices. Why would you get prices falling across the board? Because demand is so weak relative to supply. Falling prices may sound nice, but in reality are very bad. It means the economy gets locked in reverse. When people get used to falling prices they become even more reluctant to spend because everything will be cheaper next month. When firms have to keep cutting their prices to match the competition they stop investing in new equipment or expansion. If they can't cut their employees' wages they lay them off. And while all this is happening the real value of people's debts is rising (not falling as normally happens) thus increasing the burden. If all the money created adds to demand (and Japan's experience in the 1990s suggests it may not) the effect will be to reduce th the effect will be to reduce the risk of deflation, not to increase the risk of inflation. That's why those countries' central bankers are prepared to do it, and why most economists have applauded, rather than decried, their actions. more

Voting Question: where to get bad credit loan whilst on long term a.c.c weekly payments in new zealand?

Resolved Question: bad credit online personal loans long term?

Voting Question: Bad credit... What do you think?

My partner and I are wanting to purchase our first home. Unfortunately he has 2 defaults on his credit report. I have a clean record. Do you think this is a good option? I get a loan in my name – we have no deposit so my parents are happy to put their house down on the loan (I’m not sure of what the term is for this) I earn AU$48k a year. My partner will be helping me pay the loan ( we will go halves) how long will it be before I can put his name on the house as well? And also how much will I be able to borrow? My only payments are Au$520 per month for my car. Thanks! more

Voting Question: Why should I or shouldn't I co-sign on a mortgage? Please help?

My mom is trying to buy our first home because we were given a small grant from our local city. In using my mom's income, we can really only afford to get homes we are not interested in. The bank is using my mom's AVERAGE net income from her 2007 and 2008 taxes. This is hurting us and limiting our loan amount. I did not file 2007 taxes because I didnt work (was a student). I work now, I make less than $10,000 a year. Can I claim this amount although this job is so fresh? My fiance will live with us, he makes $50,000 a year, but we dont want to add him to the mortgage because he has bad credit. Long story short, we know we can afford a home, we calculated our front end and back end debt ratios, etc. I will be on the deed no matter what, but should I be on the mortgage? If I was not on the mortgage, how would I take over payments if something happened? Would I have to get a new mortgage? New rates/new terms? And actually, should I or shouldn't I be on the deed? 10 points for most helpful answer! Thanks you so much. more

Resolved Question: Divorce advice!!! help needed!?

This is a long one so bear with me! In January 2008, my wife walked out on me. I was aware she had some debts and I got upset (well angry..Not physically of-course!) and she just left. We didn't file for divorce as my wife said she just needed some space and so I waited. I continued, as I always did (and always have) to pay the mortgage, council tax etc. All of my wifes income, which was £40k, was disposable, throughout our marriage. She texted me every day to say she loved me when she left, how was I, do you want to meet up etc. So I just played along, like a fool! Anyway, in October 2008, I found out that she was seeing someone. I was deeply upset and so, I started to see someone in November. It was awkward being with another woman but female company was nice but I still loved my wife. However, in December a week before christmas, I found out that not only was her boyfriend 21 (she is 30, I am 33) but that they had been in a serious relationshiop since February 2008, only after 4 weeks of walking out on me! To make matters worse, on Xmas eve, I opened one of her letters in error, and it was a CCJ from the HSBC, saying she was over her allowance. I have since found out, she has accumulated about £20k of debt. I have no idea how, but I think it was clothes, as I used to find lots of them in the back of her car, sent to her work address. Her credit card bills were 90% attributable to ASOS (Which is an on-line clothes shop I have since found out)? I am seeing a Solicitor tomorrow to file a divorce. However, my wife has said she is prepared for me to buy her out for £15k. I get to keep the house and she will sign to say I am not responsible for any of her debts. To make things more complicated, I have a new job and I have to move in 4 weeks. I can't sell the house in this time, so I will have to rent it out. However, I can only buy my wife out, with a long term loan on the mortgage. This will put my borrowing to £205k, and the house is worth about £240k, but this is coming down as we all know!!! So questions! All of the debt is in her name (on her credit cards, with no loans on the house). Am I liable for this? Our house is in both our names (her credit card is with HSBC with the CCJ as is our moartgage) can they come after our house, even if she never paid any of the mortgage, or gave me any money towards anything? Should I buy my wife out, or is renting my own flat to much of a pain? I am deeply upset with all this, as I still love her deeply but I can't afford to stay with her (she is too much of a risk) and I will never be able to forget about her boyfriend and how she lied to me for so long, saying how she missed me, but just needed space. Please help me, I desperately need advice! Oh and a virtual hug if that is possible! more

Resolved Question: Does anyone know of a legitimate long term loan lender for bad credit?

I have made some mistakes with my credit and want to clean things up. I want a loan to pay off everything and have just one payment so that I can repair my credit. The problem I'm running into is that someone claims to be a legitimate lender and need money to transfer the funds or to send them western union and it turns out to be a scam. more

Resolved Question: I need to get a person loan fast! Does anyone know a few good websites for people with bad/no credit?

I don't want any payday loan sites, please! I've already found out how much those can suck money out of my pocket. I need a long term loan so that I can pay off those stupid lenders and my credit card bills (get back on my feet). Any help would be great, and as soon as possible! I need money by Friday! more

Resolved Question: rent to own....bad idea? Very long but desperate for opinions?

Earlier this year my husband and I were married. shortly after, an apartment building came up for sale or rent to own. My husband is german and we are in the process of his paperwork so he has no social security number. I am only 23 and was unable to obtain a loan large enough due to not having enough credit history. We decided to do the rent to own until we were able to finance the property. (Money isn't the issue. I own another small, yet thriving business. My husband worked as a computer programmer in Germany and has a nice savings). Now in a rent to own agreement what is the landlord allowed to do? The agreement we have simply says how much well pay by the 7th of each month or there will be a $25 fee it goes on to say that we may pay it off early with no penalty. It states the interest rate, price, and term. A couple weeks ago the landlord came angry because we didn't pay the taxes. We informed him we did thought he would pay them (just like when you finance throw a bank-its included in the payment) and he had never told us anything about it nor had he given us a bill. He said if we did not pay the taxes by the 31st he would take the building back. We paid it however it left us short for our payment. We asked him if it would be ok if we pay the difference two weeks after the due date and we'd pay the late fee. (Due to the cost of the taxes we cashed in an investment however we didn't receive the money by the 31st. It is to be here in a week, we asked for 2 wks so to guarantee we would have the check). He began screaming about how we aren't paying the bills. (which we are I have all the receipts) he went on to say how i had my x-mas lights 24 hrs a day wasting electric and how we allow the upstairs apartment to have a window open (the one room becomes very large, we lived in that apartment a few wks and it does truly get extremely warm in that one room, to turn down the heat makes it too cold in the other rooms) I informed him that it is not his business. these are our bills and as long as their paid then what does it matter. He then basically called us pigs and asked if we knew how to clean. I had stones on my porch (it is next to the main road and is very difficult to keep clean) that he saw my porch and would hate to see the inside of my house! I am very insulted. He also is angry about any thing we want to do. He does not want us to bring in a landscaper. He says the building is fine, which it is not. He did not even have fire alarms in the apartments. He was angry and screaming at us in Walmart one day because we purchased fire alarms for all the units. There were two dead trees in the yard (one leaning into the building) we had cut down he said we were wasting money. He is constantly threatening to take this place back. Is he allowed to do that? We are within the contract. Our payment is always made on time. with the exception of this one but is still OK according to the agreement as long as its received by the first of the next month. We have an appointment to see our lawyer but I would just like to get some opinions for my peace of mind. I thought a rent to own deal would be just like buying through a bank. They don't care if you tear the place down as long as they get their money. more

Resolved Question: From your perspective is this the right thing to do? Please tell me is my father is right or if I am.?

My father is a good man. He earns a salary, religiously attends church, and helps out with friends and family. He has a couple hobbies that besides bringing in change is pure decent enjoyment. One particular hobby is purchasing vehicles, fixing them up, and re-selling them. This is where my problem with him resides. He and my mother have been friends with one lady for a long period. My parents have a stable financial life, but she doesn't. She recently bought a car from my parents, and since she could not afford ba loan because of bad credit, they took out a $2100 loan in their name for her. She made a promisorry note, stating that she would make all the monthly payments on time. She has made every payment on time, and she has never missed one. But my argument is not with her, but instead with her son. She's of old age probably 60's and she has one son who has a colorful record. He's in his late 30's and he has gone through living off of her to trying to have her arrested, and then being arrested, for domestic disturbance and for drug possesion. Currently he is on good terms with his mom right now, so she's allowing him to stay with her. She allows him back in because according to her "this guy is her son and she is his mother so she can't turn her back on him". But here is where the problem is. A couple years back this friend sold her house to my parents, who renovated the inside and outside with their own money and thier hands (they did 76%) of the work. The women came to my parents house when they were almost done with the rennovations and asked if her son and his girlfirend could stay in their for a few days. She had bought a trailer and did not have enough space for them both. My instincts told me this was not a good thing, and I argued against it. I did not like what this friend had asked from my parents. If she thought she was doing a motherly thing by seeking a place for her son, it should have been in the comfort of her home, not the home my parents bought. Since my parents thought it was only going to be a few days, they did not make out a lease, but abided under an oral agreement. After a few days had passed my parents asked them to leave. However the son and his girlfriend refused to leave and said that they were going to stay there for a few months. According to them this house belonged to the son, because it was originally his mothers. But his mother SOLD it to my parents along with an ongoing family dispute. My parents had to take them to court to make them leave, and what hurts me the most was not the situation itself but the comments that this friends son and his girlfriend hurled at my parents in court, This sickening couple said that my parents had promised this and done that and then the girlfriend even said my father tried to make advances on her. My father and mother were always together when they were at that house. They were never apart, I know my father I am with him 95% of the time, he is a good man. My parents' friend, the guys mother did side with my parents at the court case and offered herself as a witness to help my parents with case.. Now currently I am seeing deja vu. My father who has finished work on a vehicle wants to sell it. He was looking for a buyer, and with upcoming land taxes he wanted to find a quick buyer. Thier friend came over a few days later and said wanted to know if my dad had a vehicle that her son can buy. After the last mishap, I would think my father would be against any sale or legal dealing with the friends son. I wanted to know the friends son's additional court history, and it was an frightening sight. I Checking the court files I found out her son has already tried to sue two companies this year. To me the idea of my Dad selling this vehicle to this friends son is way past ridiculous. He still wants to sell the car to this guy after I told him about his past: the same guy who took advantage of him, lied about him, tries to make a living off of lawsuits, and he wants to sell the car to him? I a future law student (fall) and I know that this friends son could sue us for so many things about the car. I drove this week and had it inspected, the mechanic said it was in good shape and is running smoothly. So I know the car is a good deal, but you could do something to the vehicle and claim the owner had sold it to him in that state. And based on the courtfiles, he has made past statements. I am trying to talk my Dad out of this, and he mentioned that he would get the buyer to sign a best as warranty or something along the lines of that. What that means is that if something is wrong with the car in the future, the seller is not at fault. But I can;t believe that would work too well in a legal situation. Because you can always say that the seller was not honest about the sale, claiming the "Buyer Beware clause". I know that I am going to get into a big argument with my Dad. He is in Canada for a few days and will be back on Frida My Dad will be back in on Friday, so I have three days to find a buyer for the car. Am I wrong to object, to refuse the sale. more

Resolved Question: bad credit score... help?

I am 21 years old and I have had my checking/savings account with the same credit union since I was 16. I have my line of credit loan-which has a $3,000 limit-through them and I have had this for almost 2 years and have never been late on a payment. I had a Maurices credit card for about one year and was never late on a payment and I closed the card as I no longer needed it. I have had a target card for about 2 years and have been 30 days late once due to military obligations and they refuse to fix it on my credit report. I have about 5,000 student loans which are deferred until may 2009. I had a chase credit card that i settled on-the limit was 800 and i settled for like 650 which was stupid but I was uneducated and thought I was getting a good deal at the time lol-I had a Kays jewelers card for about one month but closed it because I only got it in the first place because my friend worked there and he needed to meet a quota-stupid, I know-and I also have a military mwr chase credit card that has a 500 limit that I have never used. I had one collection item-an old cable bill-that was paid in full about 6 months ago. I have rented two apartments and left on good terms and was never late on my rent at either residence. I know this is a lot of stuff but I used to have a credit score of 780 which was very good for my age. I am a little confused as to why my credit score went down so quickly. It is now 562. I would like to finance a car within the next few months as I just finished college. Could it be because I closed so many open accounts at the same time? Could it be because I recently got married? I know my husband has a lot of debt but that shouldnt reflect my score should it? I am a little confused and any info would help. Thanks for reading my novella lol! Stephanie more

Resolved Question: Where can i get a personal loan with bad credit?

I'm looking for a small personal loan -maybe 1,500 to get through the holidays but I want to be able to pay it off long term instead of one of those pay day loans. more

Resolved Question: how long after you pay off somethig that is hurting your credit is it still on the report?

i've had 6 perfectly paid loans but then i made a mistake with my visa... it got alittle out of control but i paid it off in full and i was wondering how long will it take to be off of my credit... also the way i paid it off is i saved up the whole balance went to my bank put it in a term deposit and got a loan for the amount of the visa, so i am building credit while i pay off my debt, and this is the onlt thing that is on my credit history that is bad, but it is bad enough that i cannot get a loan for any amount unless i have the same amount to put on the line, like i have to pay off the visa. oh and i also got a 500 credit card to help build also but i also had to put 500 in a term deposit thank you all so much... and some extra detail i learned through this experience is that you try not to pay the creditors you should pay the company you have the debt with originally... when you pay the creditors it shows up on your credit report as closed by creditor instead of paid... and you might be able to cut a deal with the original company since they won't be getting your payment from the creditors in full just a small percentage so they would like it all from you rather then lose money to a creditor more

Resolved Question: How do I come out of my bebts?

I know you would say 'pay the debts back' since that is the most practical approach. However, it's too late and I am neck deep in debts. This is a serious situation and any advice you give will help me. I am a 31 year old man from Bangalore, India and unmarried. I work for a call center and my salary is only Rs.18000. During the last three years I used my credit cards lavishly and borrowed money from banks to buy a computer and a bike. I used credit cards to compensate for the deficit in my income which was a blunder! Now, I have about Rs.2,50,000 to pay the banks back, including all credit card and personal loan dues. Obviously, I have missed a lot of payments and incurred heavy interest and charges. The banks have been chasing me in every possible way - phone calls, letters, email and text messages. I have no bank deposits or property except for my bike and my computer that the banks might be interested in. The bank which helped me buy the bike has said they would seize the bike if a payment was not made immediately. And I have told them that they have to go ahead since I have no money. Since I really want to come out of these debts and live a peaceful life, here are a couple of questions I would like to ask you: 1) Do we have debt counseling in India? If yes, how should I find a debt counselor? 2) If I have missed payments for about six months, will the banks send an arrest warrant against me? Or what could be the worst possible legal action against me in this situation? 3) Do you think there is anything.. anything at all that I can do or a long term plan to come out of this situation? Please help. more

Resolved Question: For Paulson to encourage Longer term investments with bonds is good, but push credit? Why?

The idea of setting up a system for investors to reap benefits off investing in consumer credit bonds is good, but the "credit" is a bad idea as long as the "credit" lenders get to keep ripping off the consumers like they do. They steal late fees every month by delaying processing of consumer loan payments. It's criminal how creditors are operating. more

Resolved Question: Is there any long term loans out there for people with bad credit?

i need a loan to get my car fixed so i need a loan that i can back over time. help me please.. more

Resolved Question: Can you help me to rewrite in a more good way paragraphs. My English is not too good ?

US, was negatively affected by guarantying survival of the companies and industries as whole especially that had bad investments. Although, they were saved by government or its licensed agent, the Federal Reserve System. There can be an explanation of such negative effect by promoting future high-risk loans or investment strategies that offer above-market rates of return because of this risk. These days, investors and economists use the term to refer to the market's longing for Federal Reserve interest-rate cuts. If investors believe the Fed will rescue them from their excesses, people will take greater risks and, ultimately, suffer greater consequences. Some grumble that the Fed created problems this way in 1998, 1999 and 2003. If the Fed were to cut rates now, it certainly could help with the current market crisis. The cheaper money would reduce pressure on stock and bond markets by making it easier to buy beaten-down stocks, bonds and other securities world-wide. Wall Street is a powerful lobby in Washington, and its bleating for help can be hard to resist for politicians, whose campaigns often depend on financial contributions from Wall Street figures. But if the Fed were to ride to the rescue, the skeptics worry; it would encourage people to speculate even more, creating an even bigger bubble later. “You don't want to see the Fed bail out these guys who have made a lot of money. They have made their bed and you want to see them lie in it," says a veteran trader at a New York brokerage house. Then again, you don't want to see the economy go into recession. That, in a nutshell, is the choice the Fed's policy makers face today.” Earlier in his term as Fed chairman, Ben Bernanke was seen by a lot of investors as possibly too inclined to bail people out. Mr. Bernanke was dubbed "Helicopter Ben" because of a reference he once made to an economic theory that, if deflation threatens, the Fed's role is to dump money into the economy as if dropping it from a helicopter. Mr. Bernanke wasn't advocating such a posture, and many felt the nickname was unfair. It has taken him months of steady insistence that he wasn't about to cut rates and fuel inflation for the gadflies to stop calling him that. Now, it is the other side that is upset, worrying that his refusal to cut rates will hurt growth and enable the credit crisis to fester. Last week, Fed policy makers issued a statement reiterating their determination to fight inflation, and the worriers grumbled the Fed was being too tough. But Mr. Bernanke's old critics -- those who formerly called him Helicopter Ben -- cheered. Articles were written announcing that the "Bernanke put" was dead. The "Bernanke put" was another arcane reference, in this case to an option known as a put option that permits investors to sell stock at a preset price, limiting potential losses. Critics had complained that, as long as people could count on the Fed to intervene in case of trouble, Mr. Bernanke was putting a floor under the market -- offering a put. In earlier years, people called it the "Greenspan put," a reference to then-Fed Chairman Alan Greenspan. With people screaming from both sides, the Fed's response has been to seek out the middle ground. Instead of cutting rates, the Fed has offered additional loans to banks, to ensure there is plenty of money in the financial system, and it has offered to buy bonds from banks that feel they are holding too many bonds in the midst of a bond crisis. Economists generally feel the proper solution to such problems is to start small and use the least intervention possible. The Fed seems to be saying that, if it can right the ship without cutting rates, it will do so, and it won't cut rates unless things get worse. Debates of this sort, featuring quaint expressions such as moral hazard, have gone on for decades, and they flare up whenever crises do. Some of the issues date back to the government's failed efforts to save the economy from the Great Depression, a subject on which Mr. Bernanke has written extensively. Some go back even farther. Some still complain that the Fed, then led by Mr. Greenspan, contributed to the stock bubble of the late 1990s. In 1998, the Fed cut interest rates to support the bond market after it was swamped by a Russian debt default and the near-collapse of a huge hedge fund that specialized in bonds, Long-Term Capital Management. The Fed also encouraged banks to rescue that hedge fund. Stocks, the riskiest of which were down more than 20% at that point, quickly recovered. more

Resolved Question: Help with codependency? ?

I'm coming to terms with the fact that I'm codependent. Since I was 18, I've had 3 long-term relationships with little break between them. The first guy was a good guy, but I was unhappy. It still took me 4 years to break it off. The second guy was a horrible egomaniacal jerk, but I convinced myself that we were great together and he was just misunderstood. He ended up leaving me for another girl, and it brought my world down. I jumped straight into my third relationship, with a guy who has turned out to be nothing but trouble. He stole 3 of my credit cards (he even took me on a vacation with one of them, before I knew he had it!). He told me he lived with his friends, a married couple. Turns out, the girl he was living with was his girlfriend, and she was not married. He swore that they were no longer seeing each other, and he was just stuck in a bad living arrangement. She kicked him out. I had every intention of breaking up with him, but in the end I just couldn't do it and I let him move in. Needless to say he doesn't pay rent or bills. Every moment I have to be aware of where my credit cards are, because I'm sure he would steal from me again, and my phone, because he spies on it. He has my information, and tried to get a loan in my name (luckily it was denied). Then last week he and my friend got drunk together and ended up sleeping together. She doesn't remember anything, and feels like she passed out and he took advantage of her. I broke up with him after the thing with my friend, and asked him to move out. He still hasn't left. I ask him every day when he's moving out, and he says he's working on it. I realize I'm codependent, and I realize I have a problem. I know I can't forgive him for all of this and be with him, it would go against my integrity completely (what little of it there is left). So why is it so hard, after all he's done to me, to leave him? Ann - Thank you, and that is absolutely what I should do. The problem with codependence is, I've convinced myself that I love him and I don't want to hurt his feelings. It's as ridiculous as it sounds, but it's like a wall between me and any action I might take. more

Resolved Question: Can anyone talk to me about codependency?

I'm coming to terms with the fact that I'm codependent. Since I was 18, I've had 3 long-term relationships with little break between them. The first guy was a good guy, but I was unhappy. It still took me 4 years to break it off. The second guy was a horrible egomaniacal jerk, but I convinced myself that we were great together and he was just misunderstood. He ended up leaving me for another girl, and it brought my world down. I jumped straight into my third relationship, with a guy who has turned out to be nothing but trouble. He stole 3 of my credit cards (he even took me on a vacation with one of them, before I knew he had it!). He told me he lived with his friends, a married couple. Turns out, the girl he was living with was his girlfriend, and she was not married. He swore that they were no longer seeing each other, and he was just stuck in a bad living arrangement. She kicked him out. I had every intention of breaking up with him, but in the end I just couldn't do it and I let him move in. Needless to say he doesn't pay rent or bills. Every moment I have to be aware of where my credit cards are, because I'm sure he would steal from me again, and my phone, because he spies on it. He has my information, and tried to get a loan in my name (luckily it was denied). Then last week he and my friend got drunk together and ended up sleeping together. She doesn't remember anything, and feels like she passed out and he took advantage of her. I broke up with him after the thing with my friend, and asked him to move out. He still hasn't left. I ask him every day when he's moving out, and he says he's working on it. I realize I'm codependent, and I realize I have a problem. I know I can't forgive him for all of this and be with him, it would go against my integrity completely (what little of it there is left). So why is it so hard, after all he's done to me, to leave him? Randy - It's barely a paragraph and a half, and I'm reaching out to complete strangers for help here. If you don't want to read it, go to a different site. more

Resolved Question: If not Gordon Brown who?

This global financial mess started in America and in the last month the American government has made several catastrophic errors which have made a bad situation worse. 1. Allowing Lehman Brothers to go bust 2. Buying up toxic debts without understanding how much was required. 3. Dithering on the bailout plan This has lead to banks refusing to lend each other money as their dont know if they will get it back. This has lead to small business and homeowners not being able to get credit thus going out of business or failing to pay their home loans making the problem worse and a long term recession looking likely. What Gordon has done is buy shares at a very low rate and put certain conditions in place to ensure that money gets back into the economy. When thses shares recover we make a profit and reduce the national debt. His plan has been followed in Europe and finally by the US - without this more banks would have been nationalised and we would be looking at an unprecidented global depression that would have taken years to come out of. Politicians and Economist (including Nobel Prize winners) the world over are hailing him as saviour of the finanical world. Strange that some people on here still dont trust his handling of economy - my question would be who do you trust? more

Resolved Question: How many people know Clinton started the downfall of Fanny Mae & the economy collapse? Ya better read quick !?

Ok so I'm an independent & have been really paying attention to what these dudes are saying because I have kids & want what's best for them. What you don't know is in 1999 (Sept.30) The New York Times printed an atrticle that headlined "Fannie Mae credit to aid mortgage lending" , just throw this title up into the yahoo search engine & you will get to the article, better hurry they are trying to get it purged! Clinton signed a bill "relaxing" the qualifications to get loans,credit cards & mortgages because he said he thought it was every American's "right" to own a home (yeah IF you buy within your means & actually make your payments!) so we were all bombarded with "pre-approved credit card crap daily in the mail, even my 12 year old son was WOW, nice country huh, Everyone would like to blame Bush for this situation but please do your reasearch before you vote,That man was handed a country that was viciously attacked 8 months after he took office, it did not take 8 months to plan 911! Our towers were also attacked 1993, the American embasy in I think Africa in 1998 & the USS Cole in 2000 all while Clinton was in office, we are being brainwashed to think Bush is the reason for the economy, even Katrina! this is absurd, he was handed a pretty bad deck of cards right off the bat, we all forget Clinton was hobknobbing with the Hollywood elite & being pleasured by a young intern while our enemies & even some Americans like the late night comics were all laughing us. This is crazy, I was on the fence because I want to do what's right for my children in this election but after really studying Obama, seeing who he really in & has in his circle I will in no way vote for this man,he's saying what he wants us American's to hear, even his own America hating preacher Rev. Wright said "Obama is just saying what he has to for political reasons so he can win" his own preacher said that! This guy will do and say anything to win, his promises are unattainable, he also hobknobbs with the Hollywood elite all who have way more money then you & me so what do they have to loose. I understand people need health care, but why should hard working Americans get the same "free" health care some idiot sitting on their butt not contributing to this country get the same as someone working their butt off? even illegal immigrants get better care then some Americans, does anyone else see something wrong with this? We are being brainwashed to vote for the Hollywood backed candidate who do not give a crap about the working stiff, they have enough dough. People make fun of McCain & his houses? you got to be kidding! Ever watch cribs? Besides this is his wife's money,her father worked his booty off & left his daughter his business, (they have a pre-nup by the way). They also want to make fun of Palin?? why? 'cause she's real? most of us have no idea the crap she was asked? But she does have more experience then both Obama & Biden in executive decisions, what she lacks in foreign policy McCain more then enough makes up for, She will learn. I don't agree with everything the left's say, like a women's right to choose but jeez Obama voted to allow late term abortion,that's like a baby already then he signed that if the baby was born to a "botched late term abortion" & it was born alive the doc's are not allowed to revive it?? WTF , just let it die! I'm a mom, how can you let a baby die? this is all on record & should really be looked into, at least with McCain & Palin what you see is what you get, so she made some mistakes who hasn't? I really hope people don't vote 'cause of his "celebrity" or what the freaking lying press has wrote or his BS on what he can do for us because it's just unrealistc. Just look into it & don't be influenced by rhedoric like I almost was! I'm just a hard working home owner & no body is bailing me out of my mortgage. I want what's best for our country, OUR country.... Sorry so long but people just don't know the truth, the left slanted news sure isn't putting it out there! I'm so glad I found the truth....... Look up the Fannie Mae stuff, very good reading! Thank you so much for not blasting me.. I'm just want the truth (& we are not getting it from the left wing media & aging hippies who want free everything for all, I think they swallowed too much urine soakd mud at woodstock,no one is doing their homework because they want to vote like the celeb's, who really don't give a crap, they have enough dough & don't have to worry about about how they're going to pay their next bill but as long as they come off politically correct,.( I mean actors who hold a show at bay unless they all get a million dollars an episode? That's a million dollars a week for that greety Jennifer Aniston who convinced her co-workers to hold out until the the network caved! that's more money most us will make in a lifetime,No wonder Brad left her,At least Angelina gives back. One thing for sure McCain & Palin are real, That's what we need ~real. That's again for not bashing me I'm just trying to learn like everybody else but won't be brainwashed by celebrity bull! Thank you so much for not blasting me.. I just want the truth (& we are not getting it from the left wing media & aging hippies who want free everything for all, I think they swallowed too much urine soakd mud at woodstock,no one is doing their homework because they want to vote like the celeb's, who really don't give a crap, they have enough dough & don't have to worry about how they're going to pay their next bill but as long as they come off politically correct,.( I mean actors who hold a show at bay unless they all get a million dollars an episode? That's a million dollars a week for that greety Jennifer Aniston who convinced her co-workers to hold out until the the network caved! that's more money most us will make in a lifetime,No wonder Brad left her,At least Angelina gives back. One thing for sure McCain & Palin are real, That's what we need ~real. Thanks again for not bashing me I'm just trying to learn like everybody else but won't be brainwashed by celebrity bullies ! more

Resolved Question: The new bailout bill has a mental health parity? Thought this was about the fiduciary stability of the country?

http://www.cnn.com/2008/POLITICS/09/30/campaign.wrap/index.html?iref=mpstoryview Consumer confidence is up, Wall Street rallies, Asian markets are recovering, HK grew, EU is handling its own, India is predicting it will not be affected, the "real" price of oil is resetting, the American public is more willing to see a loss on their quarterly statements than to take on an additional $700B (read trillion ++) dollars in debt. When you consider the term and language of the current plan it really invites that trillion to become at least 2 trillion. $605B in short-term loans has been made available to financial institutions through the Fed and central banking systems. Perhaps a slight reduction in interest rate can be offered to the most credit worthy, this should help offset the effect of LIBOR. How about a immediate small business credit guarantor program? It was really shoddy to release the $650B in secret, prior to the actual vote. Ireland was hit hard, but that was after a long period of unimaginable gains. Australia has its own mortgage scandal. Take a look at all the offshore banking institutions, some will be strong and others may not make it – too bad. Taxpayers don’t want to shore up institutions where the uber-wealthy go to NOT pay taxes and then be asked to pick up the CODB through loans AND bailouts. End the hysterics and regulate the market action. It is cyclical economics and we need to be in a regulatory cycle. Let investors bargain hunt – its better than risking the credit rating of this country any further. You got offshore drilling rights, the country is open to nuclear as well as alternatives. Energy and infrastructure are key to this country’s future and that’s going to be expensive and profitable. Big Oil has the dough to foot the bill. Olmert is ready to deal, Iran has a workable solution. Vladimir isn’t SO mad and General P is in place. All thats needed is a multi-trillion dollar international security deal and you will be golden. Oh yeah, the the TED spread, an indicator of credit risk, fell to 3.15% from a 26-year high of 3.58% Monday, indicating a slight easing of the market. The TED spread is the difference between what banks charge each other to borrow for three months and what the Treasury pays. Hi Digitaldeli - can you please post the pdf link to http://libertycoalition.net/cognitive-liberty/psychiatry-gone-wild-teenscreen-documents-exposed The article link is no good. more

Resolved Question: What should we do about our situation with our mortgage?

We are upside-down in our mortgage, about $60K upside-down to be precise. We've been renting out our house for the past 10 months and living with my parents rent-free, trying to pay down other debts and get completely out of our credit card, car loan, and student loan debts. Our contract with our current tenants was for 18 months, set to end next July, which would allow us to wipe out these other debts completely. But our tenants (who were friends of ours) have been begging us for months to let them leave early, so we finally conceded. If I was truly business-oriented, I would probably have said no, that we had to stick to the terms of the contract, and that if we didn't, we would come after them. Now we have to move back into our house. We can't afford the payments, and certainly won't be able to in 6 months when the ARM goes up, we won't be out of our other debts (we'll be about $6000 short of that--which is what the rest of the rent from them would have paid). I understand that if we try to do a short sale, we might as well foreclose because both are just as bad. We'll be moving out of state in a year with DH's company, so we'll have to get out of the house then. At that point, if we can even make it until then with the ARM resetting, we will still not be able to get what we owe if we are even able to sell it. Are we pretty much screwed? Should we look into a short sale and try that right now and get out before it gets worse? Should we wait it out and see what happens in a year, all the while skirting on the edge of not being able to make ends meet? Should we go after those dumb tenants (who are no longer our friends) and get that last $6000 from them, or would it even be worth the legal fees? The tenants WERE our friends before they started hounding us about letting them out early. We finally consented because they wouldn't leave us alone, and rather than start a fight and have them leave anyway but leave our house in a bad condition, we decided to let them. We have chosen to not continue the friendship (they don't know this yet) once they leave. We only rented our house out to them because they were getting a deal and we were too. We have no intention of ever renting personal property again. It was supposed to be a temporary situation to help all involved. It ended up backfiring because they were selfish and self-serving jerks. At this point, we wouldn't be able to get what they were paying for rent, and any less wouldn't help us much. We were planning on moving back to our house once the contract was over. It is not a rental property permanently. When we got the loan, even though our credit was outstanding, my husband didn't make much money and our debt/income ratio was too great, so we got an interest-only ARM. We were uninformed and somewhat stupid to accept such an agreement. Looking back, we should have just waited to buy when we could really afford. Our debt/income ratio has improved and our credit has even gone up quite a bit, but our loan is still bad. We've tried talking to our mortgage lender about solutions, but they refuse to do anything until it resets. We will probably be forced to stay in our house until we foreclose next summer, since it sounds like all the other options aren't really doable. I hope someday I can forgive these jerks who called themselves our friends for putting us in this position. All because they wanted to shorten his commute by 15 minutes. The lesson learned is to never do business with friends. Not ever. Bob S: Your profile is set to not accept email. But I'd like to hear more about this loan modification and how you get your lender to work with you. I think we may have the type of lenders that won't work with us, since we've tried calling many times before only to be told they can do nothing for us. more

Resolved Question: Was this bailout the first signs of a US collapse - or wise spending of US tax dollars ?

A contrite Bush stepped up to tell Americans that this is wise - wise use of the tax dollars and would somehow reward the peoples in the long run Is he right ? Is it all fixed now with this very temporary influx of cash ? All that was needed was for a little cash and Congress and Senate to work hard on giving the President and the Treasury more or less everything they asked for ? Has this solved the off shore job market booms that drain the US economy ? - Has this solved the credit crunch - so that families made homeless are now going to be OK ? Has this made the gap between have and have not's less ? Will the middle class suddenly reappear with greater strength and numbers ? Or will a few from the middle ascend that golden stair case upwards while the majority disappear off the statistical grids to somewhere ? Have enough of these problems been solved by politicians and their meetings to have a stable payment plan for a billion dollar a week occupation to be paid for without relying on China and other foreign markets to buy Treasury bonds - which are no more than loans with interest due at the end of their term ? Now that everyones attention is focused on this massive problem - is there now a plan to deal with a broken manufacturing sector in an economy more used to importing than exporting - a habit of more than 30 yrs ? Now that the President has gotten this 700 billion will there be more jobs and foreign markets to support a bigger manufacturing sector instead of the shrinking one we have now ? Has this bail out been a wise spending of tax payers dollars or are they a sign of worse things yet to come ? more

Resolved Question: Is now the right time to take out a home equity loan?

I have $80000 in equity on my home. I have a single, 15 year mortgage at 4.75% I am considering a $15000 equity loan or line of credit to consolidate some credit card and medical debt that I don't have the liquid assets to pay off short term. I'd like to clear the medical debt to stave off getting sent to collections and tanking my credit rating. My theory is to take the H.E.L or H.E.L.O.C. To basically save and/or improve my personal credit rating. Given the current financial environment, I'm afraid that delay on my part could lead to a total inability to get any kind of loan at all as lenders tighten up on loan risk. I am fiscally responsible, I just had a bad run with medical issues. Sorry for the long Q. I just needed to provide as much detail as possible. more

Resolved Question: What will happend to all insurence holders from AIG, if the company does not make it? ?

US insurance giant AIG raced against the clock to avert collapse Tuesday after three blows to its credit standing, and central banks pumped out 160 billion dollars to prop up financial markets. AIG was at risk of following Lehman Brothers into bankruptcy despite approval for it to borrow 20 billion dollars and as report said the Federal Reserve had asked two banks to help provide 70-75 billion dollars. Markets, investors and savers around the world focused on AIG to see if it would be the next failure in the firestorm from the shocks on Wall Street on Monday, when another investment bank Merrill Lynch was bought out of trouble by Bank of America. Economist Jeffrey Sachs of Columbia University warned: "There is more ahead. The US economy is definitely going into recession ... There's more financial turmoil ahead." Stock markets fell for a second day on widespread recognition that the financial crisis is the worst since the crash of 1929. The fall in Europe was smaller than on Monday but Asia markets plunged and bank shares everywhere were showing big losses. AIG was in the eye of the storm as the European Central Bank, and British and Japanese central banks injected 160 billion dollars so that banks, reluctant to lend to each other, have funds. The US Treasury, as it had done for Lehman, ruled out using taxpayer money to prop up AIG. The Wall Street Journal, citing people familiar with the situation, reported that on Monday the US Federal Reserve asked Goldman Sachs Group and JP Morgan Chase to help make 70-75 billion dollars in loans available to AIG. New York state has thrown the only lifeline of sorts to AIG, announcing Monday that the company can, in effect, loan itself 20 billion dollars, by borrowing against its assets. But even that failed to reassure credit rating agencies. In blow after blow late Monday, the three main agencies -- Standard & Poor's, Moody's and Fitch -- lowered AIG's credit score. Bottom line: they judge the solvency of AIG, the largest US insurer, with a global reach, at risk. As a consequence, AIG will need to raise huge amounts in new capital to survive, although it already has sought billions of dollars to keep it going. The Wall Street Journal reported Tuesday that people close to the situation say AIG may be forced into filing for bankruptcy if it cannot raise the money by Wednesday. "The situation is dire," an anonymous source close to AIG told the Journal. The three ratings agencies gave essentially the same reasons for the downgrade: the US housing crisis, to which AIG is highly exposed, and its share freefall. On Monday AIG shares plummeted 61 percent to 4.76 dollars; they have lost 93 percent of their value in a year. "The rating actions reflect Fitch's view that AIG's financial flexibility and ability to raise holding company cash is extremely limited," Fitch said in a statement. Standard & Poor's Ratings Services lowered its long-term counterparty rating to 'A-' from 'AA-' and its short-term counterparty credit rating on AIG to 'A-2' from 'A-1+' according to a statement. Moody's downgraded AIG to 'A2' from 'AA3' and Fitch lowered its rating to 'A' from 'AA.' Far more than other insurers, AIG has been a big player in a complex parallel market called credit default swaps (CDS), financial instruments in which Wall Street companies take out a form of market insurance against the risks of bond default. These products, often linked to the US real-estate market, are at the heart of the current banking crisis and have led to massive write-downs of assets around the world. AIG alone has written down 25 billion dollars amid spiking defaults on US mortgage payments in the United States. In a filing with US market regulator, the Securities and Exchange Commission, AIG said it would need 13.3 billion dollars to meet its CDS obligations, if S&P and Moody's lowered its rating a notch. Moody's, in a dire warning, said that "further downgrades of the parent and certain operating units are likely if the immediate liquidity and capital concerns are not fully addressed. Such downgrades could amount to multiple notches." The stakes are high for a company that until only recently had been long considered the world's largest insurer. In the past year it has been battered by the global credit crunch and the worst US housing slump in decades. AIG has 74 million customers worldwide, most of them American, who would find themselves without insurance if the company goes bankrupt. It employed 116,000 people in 130 countries at the end of 2007. According to US media reports, among the assets AIG is hoping to sell is its aircraft leasing business, International Lease Finance Corporation, which has a fleet of 1,000 planes. <iframe height="339" width="425" src="http://www.msnbc.msn.com/id/22425001/vp/26735472#26735472" frameborder="0" scrolling="no"></iframe> http://www.msnbc.msn.com/id/22425001/vp/26735472#26735472" frameborder="0" scrolling="no"></iframe> http://www.msnbc.msn.com/id/26746909/ AP Sources: $85B gov't bailout of AIG imminent By IEVA M. AUGSTUMS and STEPHEN BERNARD, AP Business Writers 1 minute ago The government is expected to announce an $85 billion bailout of the huge insurer AIG, people with knowledge of the situation said Tuesday, in a bid to avoid further market upheaval. An announcement from the government about the plan was expected by 9:30 p.m. EDT, the people said. If AIG had failed, it could have triggered a wave of problems for banks around the world and opened the ugliest chapter yet of the financial meltdown that has slashed billion of dollars from global stock markets. The people, who asked not to be named because of the sensitive nature of the negotiations, said bankers and federal officials had decided a government bailout of American International Group Inc. was the best solution to save it from collapsing. The people said the Federal Reserve would receive warrants that could be exchanged for an ownership stake in the company in return for its $85 billion loan. The ownership stake could total close to 80 percent of the New York-based insurance company, one of the world's largest. Earlier, Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Henry Paulson met with Sen. Christopher Dodd, D-Conn., Majority Leader Harry Reid, D-Nev., and House Republican leader John Boehner of Ohio, to brief them on the government's option. Bernanke and Paulson left the meeting without commenting. "At the administration's request, I met this evening with Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke. They expressed the administration's views on the deepening economic turmoil and shared with us their latest proposals regarding AIG," Reid told reporters. "The Treasury and the Fed have promised to provide more details in the near future, which I believe must address the broader, underlying structural issues in the financial markets." On Tuesday, shares of the insurance company swung violently as rumors of potential deals involving the government or private parties emerged and were dashed. By late Tuesday, its shares had closed down 20 percent — and another 45 percent after hours. Still, no deal emerged. The problems at AIG stemmed from its insurance of mortgage-backed securities and other risky debt against default. If AIG couldn't make good on its promise to pay back soured debt, investors feared the consequences would pose a greater threat to the U.S. financial system than this week's collapse of the investment bank Lehman Brothers. The worries were triggered after Moody's Investor Service and Standard and Poor's lowered AIG's credit ratings, forcing AIG to seek more money for collateral against its insurance contracts. Without that money, AIG would have defaulted on its obligations and the buyers of its insurance — such as banks and other financial companies — would have found themselves without protection against losses on the debt they hold. "It might not just bring down other financial institutions in the U.S. It could bring down overseas financial institutions," said Timothy Canova, a professor of international economic law at Chapman University School of Law. "If Lehman Brother's failure could help trigger AIG's going down, who knows who AIG's failure could trigger next." New York-based AIG operates an insurance and financial services businesses ranging from property, casualty, auto and life insurance to annuity and investment services. Those traditional insurance operations are considered healthy and the National Association of Insurance Commissioners said "they are solvent and have the capability to pay claims." more

Resolved Question: If some of your personal belongings get repossessed, how long does it affect your credit?

I was injured, I couldn't work for 4 months. Then my work screwed me over and I was forced to quit due to them changing my terms of employment (constructive dismissal). Anyways my injury benefits have been up for a couple months and I still don't have a job, Employment Insurance is taking a long time to kick in (if I even get accepted) (I live in Canada too BTW). I haven't been able to pay my bills and loans, and now people are starting to send me to collection agencies, and I could possibly get stuff repossessed, like my vehicle or other household items. I'm really trying to get working, I'm also going to school part time right now. I've had outstanding credit so far, and if this happens it'll be the first time ever for me, and believe me the last time.If any of my stuff gets repossessed, how bad and how long will it affect my credit?? and will I ever be able to get any of it back?? (right now I have no money to give anyone) more

Resolved Question: need online link to apply for loan with bad credit?

i have gotten myself into a hole and have no other sources to borrow from. i do not want a payday loan as i need a longer term length. NO SCAMS.. more

Resolved Question: Can you still get Salary Packaging with a bad credit rating?

Long story short, I had a family member act as Power of Atourney on some loan accounts while I was Overseas (volunteering in a remote region) and they left the accounts (and spent my money).... meaning debts weren't paid when they should have been on my behalf. The debts went into arrears and on my return I reorganised my finances and got them back up to date... a year later, they are now fully paid out but listed as "Paid Defaults" on my credit rating... I am now in a long term contract position and looking to salary package a car (nothing luxury, but something reliable and fully maintained) and I am wondering if my credit rating may prevent me? The debts are all paid out and finalised (have been for 3 months). more

Resolved Question: Debt question? Getting back on my feet?

I have around £5k of debt spread between different credit cards/store cards (ouch! I know!!!) Some of the cards I am not paying any interest on at the moment, so I've got my priorities right in that I will pay off the higher interest ones first. Anyhow, my credit rating is quite poor at the moment - due to the figure I owe in debt/no of credit accounts/agreements I have and also because my credit file has been searched 3 times in the last 6 months. (once, was for my new job; and another time was because I had to open a new bank account as part of the terms of my employment). I am thinking of trying to get a loan to consolidate my debts. I can get a staff loan from my work, but as I work in a bank, I don't want them to know about my debt as it looks bad that I'm not good at managing my money. Anyhow, I need to weigh up the options here. How long will it take for my score to improve from the credit searches (they were almost 6 months ago now, but not quite). I would prefer to consolidate my debts and cut up all my cards, so that I only have the one payment to make each month. Would this improve my credit rating if I close all my other credit cards/store cards etc? and therefore only have 1 loan outstanding? If so, where could I get a loan without paying a fortune in interest if my credit rating is relatively poor? I have only recently started full-time employment after being a student. I still live at home, so secured loans are not an option. more

Resolved Question: How can I get a long term loan or credit with bad credit?

I am currently looking for a long term loan(not a payday loan) or some kind of credit. Unfortunately I have bad credit. I would like to spend some money in the very near future on my dog as he most likely needs surgery. I would not be able to afford this as I need to pay bills and rent of course. Any suggestions on where I can relieve my financial problem? more

Resolved Question: Would I be able to have my college tuition forgiven due to mental illness?

Ok, here is my story, I am 23 and I have severe bipolar with the one that has manic and depressive episodes fluctuating from within hours to months. My life is basically very affected by this, and I have learned a lot about bipolar since i was at a university. Term 1 - started college and got 9 credits with 1.0 GPA Term 2 - Withdrew Term 3 - Withdrew Term 4 - Got medicine and came back really strong, but wouldn't let me stay because I missed a deadline by ONE day. I was late because they mucked up my address so i never got the letter. I fought for 3 weeks to get in, but they rudely kicked me out. More like they sent me around for the run around and in the third week they told me that if I went to the AP in the first week it would have been done (LONG STORY). Made my depression worse. Term 5 a year later, i failed all my classes Term 6 failed all my classes again and got suspended. I had asked a lawyer for what they did to me in term 4, and if i can sue them for emotional damages, and the lawyer said i had a good case. Thing is that was 2 years ago. I now go to a community college but its really hurting my family financially we are still paying for college i basically never attended. I withdrew around the final days of each term, so i was held fully liable. It is hurting me and my dad a lot, since we also have to pay for the community college. I was wondering if a good enough lawyer would be able to dismiss charges due to extenuating circumstances. I would like to sue for emotional damage, because since then my bipolar became worse, but right now it would be a relief i could just get rid of these bills, or if the university can refund me the loan to pay the loanee. more

Resolved Question: Is "ALL WELL" with the banking system? I think not? Your thoughts?

1. Paulson appears on Face The Nation and says "Our banking system is a safe and a sound one." If the banking system was safe and sound, everyone would know it (or at least think it). There would be no need to say it. 2. Paulson says the list of troubled banks "is a very manageable situation". The reality is there are 90 banks on the list of problem banks. Indymac was not one of them until a month before it collapsed. How many other banks will magically appear on the list a month before they collapse? 3. In a Northern Rock moment, depositors at Indymac pull out their cash. Police had to be called in to ensure order. 4. Washington Mutual (WM), another troubled bank, refused to honor Indymac cashier's checks. The irony is it makes no sense for customers to pull insured deposits out of Indymac after it went into receivership. The second irony is the last place one would want to put those funds would be Washington Mutual. Eventually Washington Mutual decided it would take those checks but with an 8 week hold. Will Washington Mutual even be around 8 weeks from now? 5. Paulson asked for "Congressional authority to buy unlimited stakes in and lend to Fannie Mae (FNM) and Freddie Mac (FRE)" just days after he said "Financial Institutions Must Be Allowed To Fail". Obviously Paulson is reporting from the 5th dimension. In some alternate universe, his statements just might make sense. 6. Former Fed Governor William Poole says "Fannie Mae, Freddie Losses Makes Them Insolvent". 7. Paulson says Fannie Mae and Freddie Mac are "essential" because they represent the only "functioning" part of the home loan market. The firms own or guarantee about half of the $12 trillion in U.S. mortgages. Is it possible to have a sound banking system when the only "functioning" part of the mortgage market is insolvent? 8. Bernanke testified before Congress on monetary policy but did not comment on either money supply or interest rates. The word "money" did not appear at all in his testimony. The only time "interest rate" appeared in his testimony was in relation to consumer credit card rates. How can you have any reasonable economic policy when the Fed chairman is scared half to death to discuss interest rates and money supply? 9. The SEC issued a protective order to protect those most responsible for naked short selling. As long as the investment banks and brokers were making money engaging in naked shorting of stocks, there was no problem. However, when the bears began using the tactic against the big financials, it became time to selectively enforce the existing regulation. 10. The Fed takes emergency actions twice during options expirations week in regards to the discount window and rate cuts. 11. The SEC takes emergency action during options expirations week regarding short sales. 12. The Fed has implemented an alphabet soup of pawn shop lending facilities whereby the Fed accepts garbage as collateral in exchange for treasuries. Those new Fed lending facilities are called the Term Auction Facility (TAF), the Term Security Lending Facility (TSLF), and the Primary Dealer Credit Facility (PDCF). 13. Citigroup (C), Lehman (LEH), Morgan Stanley(MS), Goldman Sachs (GS) and Merrill Lynch (MER) all have a huge percentage of level 3 assets. Level 3 assets are commonly known as "marked to fantasy" assets. In other words, the value of those assets is significantly if not ridiculously overvalued in comparison to what those assets would fetch on the open market. It is debatable if any of the above firms survive in their present form. Some may not survive in any form. 14. Bernanke openly solicits private equity firms to invest in banks. Is this even close to a remotely normal action for Fed chairman to take? 15. Bear Stearns was taken over by JPMorgan (JPM) days after insuring investors it had plenty of capital. Fears are high that Lehman will suffer the same fate. Worse yet, the Fed had to guarantee the shotgun marriage between Bear Stearns and JP Morgan by providing as much as $30 billion in capital. JPMorgan is responsible for only the first 1/2 billion. Taxpayers are on the hook for all the rest. Was this a legal action for the Fed to take? Does the Fed care? 16. Citigroup needed a cash injection from Abu Dhabi and a second one elsewhere. Then after announcing it would not need more capital is raising still more. The latest news is Citigroup will sell $500 billion in assets. To who? At what price? 17. Merrill Lynch raised $6.6 billion in capital from Kuwait Mizuho, announced it did not need to raise more capital, then raised more capital a few week later. 18. Morgan Stanley sold a 9.9% equity stake to China International Corp. CEO John Mack compensated by not taking his bonus. How generous. Morgan Stanley fell from $72 to $37. Did CEO John Mack deserve a paycheck at all? 19. Bank of America (BAC) agreed to take over Countywide Financial (CFC) and twice announced Countrywide will add profits to B of A. Inquiring minds were asking "How the hell can Countrywide add to Bank of America earnings?" Here's how. Bank of America just announced it will not guarantee $38.1 billion in Countrywide debt. Questions over "Fraudulent Conveyance" are now surfacing. 20. Washington Mutual agreed to a death spiral cash infusion of $7 billion accepting an offer at $8.75 when the stock was over $13 at the time. Washington Mutual has since fallen in waterfall fashion from $40 and is now trading near $5.00 after a huge rally. 21. Shares of Ambac (ABK) fell from $90 to $2.50. Shares of MBIA (MBI) fell from $70 to $5. Sadly, the top three rating agencies kept their rating on the pair at AAA nearly all the way down. No one can believe anything the government sponsored rating agencies say. 22. In a panic set of moves, the Fed slashed interest rates from 5.25% to 2%. This was the fastest, steepest drop on record. Ironically, the Fed chairman spoke of inflation concerns the entire drop down. Bernanke clearly cannot tell the truth. He does not have to. Actions speak louder than words. 23. FDIC Chairman Sheila Bair said the FDIC is looking for ways to shore up its depleted deposit fund, including charging higher premiums on riskier brokered deposits. 24. There is roughly $6.84 Trillion in bank deposits. $2.60 Trillion of that is uninsured. There is only $53 billion in FDIC insurance to cover $6.84 Trillion in bank deposits. Indymac will eat up roughly $8 billion of that. 25. Of the $6.84 Trillion in bank deposits, the total cash on hand at banks is a mere $273.7 Billion. Where is the rest of the loot? The answer is in off balance sheet SIVs, imploding commercial real estate deals, Alt-A liar loans, Fannie Mae and Freddie Mac bonds, toggle bonds where debt is amazingly paid back with more debt, and all sorts of other silly (and arguably fraudulent) financial wizardry schemes that have bank and brokerage firms leveraged at 30-1 or more. Those loans cannot be paid back. What cannot be paid back will be defaulted on. If you did not know it before, you do now. The entire US banking system is insolvent. I have my garden, well stocked pantry sheld, outdoor stove, fire wood and propone burners. This will get worse...much much worse........good luck to all!!....be prepared more

Resolved Question: Recession : With War or Without it ? Isrel vrs Iran// War - and US??

Recession: With War or Without It? by Gary North by Gary North DIGG THIS The world's economy has been in growth mode at least since 1991. China has been in growth mode since 1979. The American economy had a sharp recession in 1991. Asia had a financial crisis in 1998. America had a very brief, very shallow recession in 2001. The Federal Reserve System pumped in money at an accelerating rate after mid-2000 through 2004, and did not go to tight money until the month Bernanke took over: February 2006. Inflation overcame the recession of 2001, and it overcame the crisis of 9/11, but it created the housing bubble and the commodity bubble. The housing bubble has popped. This is going to take the price of housing in the United States lower than it is today. I think 20% lower is a conservative figure. We are nowhere near the end of this popped bubble. The commodity bubble is still in full force. It is a worldwide bubble. The price of energy and the price of rice and other food commodities have received most of the attention. Federal Reserve policy since early 2006 has been one of relatively stable money. There is a lot of chatter to the contrary, but if we look at the two most significant monetary indicators, the adjusted monetary base and M1, we see that there has been very little growth in either. This is why the United States is now either in a recession or is facing one in the next few months. When a period of monetary inflation ends, economies go into recession. The American economy is slowing down, and it will continue to slow down. Both China and India have expanded their money supplies dramatically for a decade. Both countries are now facing a crisis of rising prices. Price inflation is a major threat to the continued prosperity of both countries. China's government has begun to impose selective price controls. This is creating shortages and production bottlenecks. India's government is considering doing the same thing. What both governments need to do is to tell their central banks to cease buying all government debt and all assets of any kind. The central banks need to stop inflating the money supply. But if the banks do this, both countries will experience major recessions. The governments do not want to have major recessions, but they also do not want to experience the effects of monetary inflation: price inflation. So, both of them are tempted to go back to the traditional policy of imposing price controls. This always creates shortages, and it always reduces the rate of growth of the economy. China and India are trapped. AN INTERNATIONAL TRAP The United States is in the same trap. The headlines scream of the skyrocketing costs of energy and food, but the broader consumer price indexes indicate slow increases: maybe 3% a year. This is because families are readjusting their budgets. As the prices of gasoline and food rise, families are forced to cut back expenditures in other areas. So, the general price indexes are not rising dramatically, but families are struggling with their budgets. This struggle will get much worse this winter, when the price of heating oil rises. This will exacerbate the existing economic slowdown. Furthermore, the rising price of oil means a rising balance of payments deficit for the United States. Oil-exporting countries are the main beneficiaries of the rising price of oil. This means that foreign sellers of oil will get the lion's share of the increase of the price of oil. American producers will pay for the prosperity of the oil exporting countries. They will pay in the form of reduced demand for their products. The world is facing simultaneous recession. Meanwhile, the American financial system has absorbed hundreds of billions of dollars of IOUs from home buyers who cannot possibly pay off their debts. They are in the process of defaulting to the lenders. This has created a crisis for America's largest banks, and for several major European banks. We all know the story by now, but psychologically, most Americans have not adjusted to the new economic reality. Most investors have not adjusted. Yes, the American stock market is down by 20% since last October. But still they think a recovery is just around the corner. The media keep saying this. American investors still have faith that the economy is essentially healthy, that there will not be a continuing fall in the stock market, and that the economy will not go into recession and stay in the recession for two or more years. So far, I am giving you the good news. The good news is there is going to be an international recession, rising corporate bankruptcies, bank failures, and retrenchment by consumers because they can no longer pay the rising cost of energy. Why is this good news? Because this recession is going to put a cap on the rising cost of energy. Commodity prices will fall during the recession; this includes the price of oil. NO MORE FISCAL WIGGLE ROOM Americans have steadily stopped saving over the last 28 years. In 1981, they saved over 11% of their discretionary income. Today, they save nothing. They are now in full spending mode. They have borrowed money against their future income, against their home equity, and on simple promises to pay (signature loans: credit cards). They have stretched themselves thin with respect to debt. If oil goes to $400 a barrel, or $500 a barrel, and stays there for a year, American consumers will be in panic mode. They will have to cut their budgets, and they have forgotten how to cut their budgets. They have forgotten how to save. The strategy of the optimists is to tell us that the worst is over economically. This is the government's official position. Chairman Ben Bernanke does not say this. He keeps hinting of more trouble to come. He keeps telling us that the Federal Reserve System is monitoring events. He keeps implying that there is some sort of rabbit still remaining in the Federal Reserve System's hat which they can pull out if the banking system moves into paralysis mode. But he doesn't tell us what these rabbits are, or under what conditions the FED will pull them out of its hat. The good news regarding the economy in general is not backed up by anything specific. The government tells us that the worst is over, but there are almost no indications that the worst is over. The housing market is still in decline. Foreclosures are still rising rapidly. The lenders are not selling foreclosed properties at market prices. Instead, they keep buying back the properties. There is a growing inventory of unsold properties on the books of the lenders. Meanwhile the two major sources of liquidity for the housing market, Fannie Mae and Freddie Mac, are verging on bankruptcy. On Wednesday, July 9, the stock price of Freddie Mac dropped by 23%. Yet its stock price was down over 50% since January. These two stocks have continued to fall. Everywhere we look on the horizon of the domestic economy, there is bad news. There is no sector of the economy that is improving, unless it is heavily funded by the Federal government. Health care has not slumped, because health care as funded by Medicare and other state and local government programs. This means that the Federal deficit is going to get worse in any recession. Medicare and Social Security are non-discretionary spending items. The revenues will fall. So, the supposed strength sectors of the economy are in fact guarantees of a government fiscal crisis. If the general economy slumps, the Federal deficit is likely to go over $500 billion a year. When the recession hits, commodity prices will fall. If the recession does not hit, commodity prices will continue to rise. But rising commodity prices will force bankruptcies in those firms that are not in a position to pass on increased costs to their consumers. This means industries associated with discretionary spending. If your company is dependent upon discretionary spending by the public, your job is at risk. If the recession hits, your company will suffer. If the recession doesn't hit, rising commodity prices will squeeze your company. Consumers will spend their money for gasoline and heating oil, not on the products or services your company produces. The boom economy has not been based primarily on non-discretionary income. The boom has come at the margin: those areas of the economy in which consumers do have the option of spending their money rather than saving it. So far, I have been giving you the good news. The good news is there is going to be an international recession, rising corporate bankruptcies, bank failures, and retrenchment by consumers because they can no longer pay the rising cost of energy. THE BAD NEWS The bad news is that the State of Israel is increasingly likely to launch an air strike on suspected Iranian nuclear weapons production facilities. I have discussed this before. If this happens, the price of oil will skyrocket. This will force massive readjustments of family budgets in every country on a permanent basis. This is going to force producers to fire people out of fear of bankruptcy. Consumers are going to stop buying much in the area of discretionary income. That is, those items that can be cut back will be cut back. This could mean you. If the State of Israel launches an attack on Iran, the economic news will get really bad really fast all over the world. So, the most important question today is whether or not the Israeli Air Force will attack Iran. From an economic standpoint, this is the crucial question. Here, too, the mainstream media have generally promoted optimism. They suggest that the Israelis will not attack Iran. The problem is, they can't point to anything specific that officials in the State of Israel have said that indicates that there will not be an attack. On the contrary, officials there keep saying "no comment." Something else is really ominous. The political leaders in the countries over which Israeli bombers will have to fly are deadly silent. They are not telling Israel in full public view that if Israel sends planes over their airspace, they will go to war with Israel. They are not saying that they are preparing right now to shoot down every Israeli plane that flies over their airspace. They are saying nothing. Why? I think the main reason is that they will not back up their words with deeds. They will not shoot down Israeli planes. They say nothing in public because they will do nothing if the overflights take place. If they go public with bellicose threats today, their own people will turn on them if they fail to back up their words with deeds if the flights take place. "You said you would do something. You did nothing. Get out!" This could start internal revolutions in the overflown countries. Silence is golden. It's yellow, but it's golden. This tells me that the overflight countries' leaders think the attack may take place. They would prefer to be accused of having been caught flat-footed by the Israeli Air Force than unwilling to back up a threat. American officials are offering the bipartisan line: "We must settle this through diplomacy." (To which Israeli government officials can respond, Tonto-like: "Who you mean we, paleface?") They are not saying anything about what sanctions against the State of Israel that America will impose as soon as Israeli jets bomb Iran. That is because there will be no such sanctions. Admiral Mullen supposedly sent Israel a statement in early July saying that the United States has not issued a green light for an Israeli attack on Iran. This supposedly means something important in itself. It means nothing in itself. What it means is the United States has not issued a red light against an Israeli attack on Iran. This means that there is no stop sign. There is no red light, so the absence of a green light means nothing. Of course no one has said that the United States will help Israel in such an attack. So what? Israeli officials are not asking for a public offer of American help. If the United States and those governments over which the Israeli Air Force must fly are not issuing public statements at this time warning that there will be significant negative sanctions imposed on the State of Israel as soon as the attack is launched, then this is an implied green light. Do we imagine that senior decision-makers in the Israeli government care a whit about the lack of an official American green light to their attack on Iran? They are as unconcerned about the lack of a green light as Iran is unconcerned about President Bush's threat of sanctions if Iran does not comply with all requirements announced by the Bush administration. Iran knows what Israel knows: the Bush administration is terminal. It will end on January 20, 2009. It has no teeth. Lame ducks don't bite. They merely squawk. Why should we think that either Iran or Israel gives a fig about the red light/green light debate? American pundits may think this debate is important, but why should anyone with common sense think it's important? TIMETABLES Iraq has announced that the United States must pull out its troops. It is demanding dates for this withdrawal. The Bush administration is pooh-poohing all this, and will not under any circumstances announce such a timetable, but so what? There is a timetable for the Bush administration's withdrawal: January 20, 2009. This means that the United States is going to be pressured by Iraq's government to leave Iraq from now on. Most of the troops will be forced to leave Iraq unless things change dramatically. Then what will be done with the 14 major military bases that have been built? As the pressure increases to force us to leave Iraq, and as the pressure from the Taliban increases in Afghanistan, and as the pressure from voters increases to get our troops out of both countries, and as the likelihood of the election of Obama increases, decision-makers in the State of Israel are caught between the proverbial rock and a hard place. If the United States pulls out of the region, the State of Israel will be left high and dry. But there is another possible scenario. If Iran's surrogate Shia forces in the region take on the United States troops in reaction to an Israeli attack on Iran, American public opinion will swing in favor of keeping the troops there, no matter what. "Who do those Iranians think they are? We issued no green light to the Israelis. It's not our fault." If Iran begins to supply weapons to Shia forces in Iraq and Afghanistan, and the American death rate goes up, then American voters will switch back to a pro-war position. At least, this is a possibility. Americans do not like to be pushed around. Any escalation of war in the region will create havoc for the supply of oil. The world economy is moving into recession already; it may go into a true depression if oil goes to $500 and stays there. So, the stakes are enormous. The outcome is no longer in the hands of the United States, Europe, Asia, or any of the other outsiders to the Middle East. The outcome, or at least the trigger, is completely in the hands of the decision-makers in the State of Israel. They hold the gun. Unless the United States and Western Europe tell the decision-makers in the State of Israel that Europe and the United States will impose significant negative sanctions after an attack on Iran, then decision-makers there are going to make a decision based on the self-interest of the ruling party, not the self-interest of American or European voters. They are going to take care of their perceived problem, exactly as we would expect any other national political leaders would take care of their problem. That's why all talk about war being a threat to the self-interest of the whole makes sense only if the Israelis conclude that the economic crisis will be so severe that it will take them down in the whirlpool of economic collapse. They are not afraid of military retaliation from Iran. They are also not afraid of the United States, Europe, Asia, or any other coalition that does not have the backbone to say in advance that there will be major sanctions placed on the State of Israel if there is an attack on Iran. This is why I am concerned about the threat of an Israeli attack on Iran. I am in no way calmed by statements attributed to Admiral Mullen. When Admiral Mullen holds a press conference and says publicly that there is no green light for an attack by the Israeli Air Force on Iran, and that any flyover of Iraq by Israeli planes will lead to shoot downs of Israeli planes by American planes, then I will stop worrying about the threat of an attack on Iran by the Israeli Air Force. How likely do you think such a press conference is? We must face reality: the decision to go to war with Iran is 100% in the hands of Israeli decision-makers. It is not in the hands of the United States, Europe, or Asia. In other words, the economic fate of the West over the next decade is now in the hands of decision-makers who are concerned about the long-term survival of their own country. They are concerned because they do not want to have Iran in the possession of nuclear weapons. Both candidates for President have said the same thing. We have seen saber-rattling by the Iranians with the film-doctored test of the missiles this week. These missiles are militarily useless as weapons against the Israelis. They are as irrelevant militarily as Germany's V-2 missiles were in 1945. They cannot inflict enough damage to make a difference, unless they are used against Saudi Arabian oil fields. But, if they had a nuclear warhead, that would make all the difference. The Israelis know this. So, they are going to make their decision in terms of this long-term threat. The main inhibition against an attack is the possible collapse of the Western economy, which buys Israeli-produced goods. This threat may be sufficient to keep them from attacking. I dearly hope that it is. But it is naïve to believe that they are going to make their decision because of worries about whether Admiral Mullen has issued a green light or not. CONCLUSION When you invest your money, do not ignore the worst-case scenario. Set aside some of your money on the assumption that the worst-case will come true. This is what any military strategist does. He makes his decisions in terms of what the enemy can do, not what it would be convenient for the enemy to do. I suggest that you be aware of this threat. I suggest that you sit down with the family budget and outline what your response would be if the price of gasoline were $10 a gallon or $15 a gallon or $20 a gallon. What would you do? I know what you would do. You would drive less. Ignore the happy-face assessments of the geopolitical strategists. Ignore the happy-face assessment of the Secretary of the Treasury, Henry "Goldman Sachs" Paulson. These assessments are being issued to keep panic from spreading. I am doing my best to encourage people to take rational steps with some of their liquid assets: to hedge themselves against the possibility that there will be an attack on Iran before January 20, 2009. This doesn't mean that I think such an attack is a sure thing. Decision-makers in the State of Israel are going to have to live with $400 oil, just like all the rest of us. They may decide that this risk is too great. They may decide to put up with the threat of a future nuclear-armed Iran. I won't bet all of my money on this. I don't think you should either. July 12, 2008 Gary North [send him mail] is the author of Mises on Money. Visit http://www.garynorth.com. more

Resolved Question: Closing all credit card accounts..good or bad for credit?

i recently got a job with a bank and they are offering me a good interest rate to take out a debt consolidation loan. I have balances on 5 cards I am consolidating. I have had these cards for years since college. I really do want to close out all these accounts after its paid off with the loan but will that hurt my credit? I dont use these cards anymore either, they have been sitting in my basement for a very long time! Also, is taking that loan a good idea? I am doing this because it saves me like $100 or more in interest a month and make it into one bill instead of 5 bills everymonth. As for the loan I plan to pay the whole thing off in a year if I can even though the term is for 4 yrs. Is it worth doing what I'm doing if I'm able to pay my entire debt in a year? I owe 10K and its pretty much maxed out my cc's.. My credit score is not bad but not great either and i intend to buy a house when all this is done. thank you for your time in reading and responding to this. I appreciate your advice. I'm trying to fix my financial mistakes and now I can offord to and really want to do it. more

Resolved Question: Many questions here about buying a first house. Advice?

1) What is the process of buying a home? Get an agent>>Find the home>>get it checked out by a pro>>prequalified>>Agree to financing terms>> Move in? 2) What exactly does an agent do? Do I really need an agent if I can tell the seller the price I am willing to pay? 3) I am looking to get my 3% down payment gifted to me by an organization. Who generally gets this gift? 4) What are some programs that gift down payments? 5) When negotiating mortgage fees, what dollar amount should I aim for? What is reasonable and what is excessive? 6)How do I shop PMI? 7) What is escrow? 8)How do I lock in a Good Faith Estimate, what is the cost, and how long is it locked? 9)What is an upfront lender? 10) We have good credit (713 and 752) and make $83.000 a year. Is a FHA loan something we need or is that for those with less income or bad credit? 11) How long does it take to sign the document to buy the house and then move in? 12) Good idea to buy a foreclosure? What should I look out for? 13) My rental lease ends in December. When should I buy a house? more

Resolved Question: Where To Get A Long-Term Bad Credit Personal Loan?

I'm trying to rent a house/apartment but only have $1000.00 saved and will need some more for security, things I need for the house, etc... so I'm trying to get a $1500.00 loan but I don't have the greatest credit because I'm 19, it's not that I'm deeply in debt or anything it's just that my history is limited, I only owe about $250.00 on credit cards. I've tried banks like Citi and others and they denied me, I also tried prosper.com and they said my score is too low. I want to take the loan out for like 2 or 3 years if I could. Where can I go, preferably online and apply? more

Resolved Question: What do you think?

Here is an accounting article I found in The New York Times. What do you think about it? Share your thoughts and opinions with me please..and any insight you may have on the subject. Should we blame the accountants? Surprises multiplied as the subprime problem of 2007 grew into the credit disruption of 2008. It is one thing to have a bank report losses because some of the loans on its balance sheet went bad. That is part of the business of banking. It is something else, however, for a bank to report a multibillion-dollar loss from taking some risk that had never been mentioned in its financial statements. Haven’t we seen this movie before, involving a company called Enron? Didn’t Congress pass a law requiring that the problem of off-balance-sheet mysteries be solved? “After Enron, with Sarbanes-Oxley, we tried legislatively to make it clear that there has to be some transparency with regard to off-balance-sheet entities,” Senator Jack Reed, Democrat of Rhode Island and chairman of the Senate securities subcommittee, said this week. “We thought that was already corrected and the rules were clear and we would not be discovering new things every day.” Senator Reed has sent letters to the Securities and Exchange Commission, as well as to the Financial Accounting Standards Board, which sets United States accounting rules, and the International Accounting Standards Board, which does the same for most of the rest of the world, asking detailed questions about what went wrong and how it should be fixed. Getting together answers to his questions could provide the S.E.C. with a road map to determine where the rules failed, as well as where companies failed to apply the rules properly. One rule that needs scrutiny now — called 46-R — was passed after Enron. Essentially, it says companies can keep “variable special purpose entities” off their balance sheets if they conclude that the bulk of the rewards, and risks, lie with others. But companies are supposed to evaluate those estimates regularly, and change the accounting if the conclusions change. A risk that seemed remote last year can seem all too real now, and that explains a lot of the surprising write-offs. Suddenly, losses are booked. Investors learn that a company has taken a risk only after the risk has gone bad. That should not happen. The rules require that companies make some disclosures about off-balance-sheet vehicles even if they do not put them on their financial statements. They should discuss factors like the nature of the risk they face and the maximum loss that is possible. But those disclosures have often not been made, or have been made in such a general way as to be meaningless. The S.E.C., and perhaps the Congress, should ask some companies to explain their earlier lack of disclosures. They will hear that companies thought the amounts involved were unimportant — “not material” in the jargon of accounting. They may find out that some managements did not understand all the risks that were being taken. And they may find that some companies failed to disclose risks that they should have disclosed. The 2007 annual report of the State Street Corporation, a Boston bank, is a model of what disclosures should be, in laying out the risks of some special purpose entities it set up to hold assets. Those entities, known as conduits, borrowed money to pay for the assets, with State Street promising to come up with the cash if the conduits could not find other lenders. In the report, State Street explains why it has not taken any write-off on those conduits, which contain $28.8 billion in what the bank believes to be high-quality assets. It can avoid consolidation because other investors would suffer the first $32 million of losses — about one-tenth of 1 percent of the assets. After that, State Street would be on the hook. But State Street says its model indicates defaults on the underlying assets will not cost that much. So long as the conduits stay off its balance sheet, State Street does not have to adjust them to reflect the market value of the assets in the conduits. But if State Street ever concludes that defaults are likely to be a little higher — say $100 million, only three-tenths of a percent of assets — it will have to put the assets on its balance sheet. And if it does that, it will have to write them down to market value. At the end of last year, State Street estimates that market value was about $850 million below face value. Had it been forced to consolidate the conduits, that loss would have been posted, leaving a write-down of about $530 million after taxes. About 40 percent of the bank’s 2007 profits would have vanished. As those assets eventually came due, State Street might have been able to recoup some or all of those losses if there were few defaults. But that could happen years later. The basic strategy with these conduits was to borrow at lower short-term commercial paper rates and lend at higher long-term rates. That has long been one way banks make money, and sometimes lose it if credit markets move in the wrong direction. This accounting rule let those risks vanish from the balance sheet because somebody else would suffer the first one-tenth of 1 percent of losses if any of the securities went bad. A rule that allows that to happen needs revision. At least State Street investors now know about those risks, and have an explanation of why State Street thinks the market value of those assets is unreasonably low. Investors in many other banks, including some that have taken big write-offs, know much less about the risks those banks face. There are many other issues in bank accounting, some stemming from the nature of market value estimates. JPMorgan Chase pointed out this week that it has taken reserves of 4.9 percent against the value of the leveraged loans on its books — twice that of some of its competitors. Maybe that means JPMorgan’s loans are not as good, but maybe it means that other banks are simply using more optimistic estimates. In a market where there are observable market values, the S.E.C. might want to ask how such disparities come to exist. There are no perfect accounting rules, and forcing banks to consolidate everything might be unreasonable. But banks should have done more to let investors know the nature of the risks that were being taken. If the accountants had forced better disclosures, it is at least possible that managements would have spent more time evaluating the risks they were taking, and then made wiser business decisions. more

Resolved Question: Is there any long term (2 year) loans for about $5000 dollars for people with bad credit?

Top Long Term Loans For Bad Credit Links

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