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) Mortgage company says allegations are unfair and wrong
OMAHA — An Omaha-based mortgage company plans to fight state allegations of misconduct and will try to keep its state mortgage banking license.Bob Goldberg, president of Advantage Mortgage Service Inc., said the company conducts its business "in an exemplary fashion."On its Web site, Advantage Mortgage says it offers loans "for home purchases, refinancing, home equity allocation, debt consolidation and much more." . More>> - (
) Debt Consolidation Advertising Traffic Jumps 600%
Adknowledge traffic in the debt consolidation services category climbed more than 600 percent in September 2007 compared to a year ago, the largest advertising category increase so far this year. Bad credit loans and loan refinancing are other categories to jump over 500 percent.. More>>
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) Nigeria: Why Banks Shun Real Sector Fund Seekers
While some stakeholders, especially those in the manufacturing industry, point their accusing fingers at banks as being responsible for the dearth of real sector financing, banks said that it was their duty to protect the interest of shareholders from bad debt as the money does not belong to the board and management of the institution. The inability of the real sector to access funds from banks has been associated with the high lending rates which stood between 18 per cent and 20 per cent. Although, some operators in the manufacturing industry were excited that consolidation in the banking sector would usher in an opportunity for them to get credit facilities from banks at lower rate to increase their capacity utilisation, but they were disappointed with the rate to be contended with. More>> - (
) Online Mortgage Portal Receives Spike in Refinance Applications after the Fed Cut Rates
LendingGateway.com receives hundreds of online enquires to get into a fixed rate despite the interest rate drop.San Diego, CA (PRWEB) September 28, 2007 -- Over the last week, after the Federal Reserve cut interest rates by 0.5 percentage points, LendingGateway.com received an increase in online enquires and phone calls about how this will affect the home loan market. Despite the Federal Reserve's intentions of alleviating the "sub-prime" home loan chaos through the rate cut mortgage rates continued to increase.
"The most common thing we see is people that have adjustable rate mortgages worried about their interest rate increasing and affecting their ability to meet their monthly loan payment," explains Scott Olson, COO at LendingGateway.com, "the best advice our loan consultants give is to look into re-financing their existing home loan from an ARM to a safer fixed rate."
In addition to an increase in online mortgage applications, LendingGateway.com, also saw a jump in several debt consolidation enquiries on their online form at https://apply.lendinggateway.com/forms/debt.php
"Although we advise consumers to get into a safer fixed rate not everyone qualifies," says Alexander Capio, Owner and CEO of LendingGateway.com. More>>
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) New Site Empowers User with Unique Debt Consolidation Tool
LionSaves.com is a startup unlike any other mortgage site.Centennial, CO (PRWEB) October 18, 2007 -- A new web site has launched that provides users with a one of a kind savings tool. LionSaves.com (http://www.LionSaves.com) has taken over a year to build and is specifically designed for debt consolidation.
Over two million adjustable rate mortgages will be adjusting upward in coming months. This increase in payments, combined with consumer debt at an all time high of $2.39 trillion, will put additional financial pressure on many homeowners.
Debt consolidation is one answer for homeowners who have some debt and some equity in their home. It's done by refinancing the first or second mortgage and paying off consumer debt.
Debt consolidation provides multiple benefits for homeowners in this situation. More>>
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) Banks expand loan business
One of New Zealand's biggest consumer credit lenders says banks have been making aggressive moves into areas once dominated by finance companies.The comments, from GE Money's New Zealand managing director, come as one of its rivals, Geneva Finance, said last week it was pulling back from lending money through some of the smaller car dealers.
GE Money's Greg White says neither the global credit squeeze, nor the collapse of locally based finance companies, is changing the way it does business. The big banks are, however, now aggressively moving into the same space through its offering of personal loans.
"Fundamentally, not a lot has changed for us," says White.
"Our partners - the likes of Noel Leeming, Harvey Norman, Freedom Furniture - are extremely important to us. More>>
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) Think the credit crunch is over? Think again
Careful optimism about the U.S. economy and financial system has given way to a resurgence of unease in the last couple of days, prompted by an announcement Monday of an extraordinary plan to pump liquidity into an important part of the debt markets and less-than-upbeat speeches from Federal Reserve chairman Ben Bernanke and Treasury Secretary Henry Paulson.Suddenly, the credit crunch is being talked about as a serious phenomenon again. But, as is always the case on Wall Street, it won't be long before a gaggle of self-interested players make their way to center stage to tell us that recovery is just around the corner, seizing on any halfway optimistic shred of data to bolster their case.
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