Will loan modifications save the housing market?

Some big banks and major lenders are pledging to modify loans to make them more affordable for struggling homeowners. Citigroup, Countrywide, JPMorgan, Fannie Mae, and Freddie Mac have all agreed to put forth the effort to prevent foreclosures.

Unfortunately,… Read the rest

The Death of Credit

What the banks giveth, they clearly taketh away. 

Home mortgages? Nearly impossible to get one.  Car loans or leases?  Very, very difficult.  Credit cards? Yes, but at very high interest rates and miscellaneous charges with lower credit limits… Read the rest